TYPERetail, Flat, General Retail, Retail - High Street, Retail - Out of Town, Residential
TENUREInvestment Opportunity, For Sale Freehold
POSTED ON15th June 2020
The property comprises 2 mid terrace three storey buildings which were extended and converted approximately 6 years ago to provide retail accommodation on the ground floor and 4 apartments on the upper floors. Both retail units are self-contained and access to the apartments is provided via a communal entrance off the Bath Road.
The first and second floors comprise 2 No. two bedroom apartments and 2 No. one bedroom apartments. Each benefits from an open plan/dining/living area with shower room. One of the apartments benefits from a balcony which overlooks the Bath Road.
TENANCIES No. 146 Bath Road is let to S. Mannan & A. Rakib for a period of 15 years from 15th January 2015 on a full repairing and insuring basis. There are rent reviews on every 5th anniversary. The current rent is £30,096 per annum and and the outstanding review is being negotiated at present.
No. 148 is to be let by way of a 999 year lease subject to a peppercorn rent.
The apartments are let on Assured Shorthold Tenancies (ASTs) with 3 occupied and the current income is:
Apartment 1 £750 per month. Apartment 2 £995 per month. Apartment 3 £750 per month. Apartment 4 £850 per month. Potential income when fully let £40,140 per annum.
Copies of the tenancy agreements are available upon request.