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For Sale£250,000.00

Fully let freehold investment

General Retail, Restaurant/Cafes, Mixed Use, Flat, Retail, Other Property Types & Opportunities, Residential , 2357 Sq Ft
Property type: General Retail, Restaurant/Cafes, Mixed Use, Flat, Retail, Other Property Types & Opportunities, Residential
Tenure: Investment Opportunity, For Sale Freehold
Size: 2357 Sq Ft
Price: £250,000.00
Location: 2-4 Market Avenue, OL6 6AR
Situated in the heart of this cosmopolitan town, the property is a short distance from the Ladysmith Shopping Centre, the mainline railway station and local amenities.  Market Avenue is pedestrianised and provides a convenient link from Stamford Street Central to Wood Street.  Other occupiers in the vicinity include Ashton Furnishing/Ashton Bathrooms, Jo Ferns Hair & Beauty and Ming’s Palace Restaurant.

The premises comprise a character building, with a restaurant/coffee shop on the ground floor and basement, above which there are 5 flats.  The flats are each let on 125 year leases from 10 September 2004 and so have approximately 112 years unexpired at a fixed ground rent of £25 per flat.

The restaurant is held on a lease expiring on 15 June 2019.  The present rent is £22,687.50 which applies until the expiry of the lease with no further reviews.

VOA records indicate an area of 219 sq m (2,357 sq ft) for the commercial section of the building (not verified by us).       

The current total rent received is £22,812.50 pa, reflecting a gross yield of 9.125% before costs.
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