TYPERetail, Mixed use, Flat, General Retail, Retail - High Street, Other Property Types & Opportunities, Residential
TENUREInvestment Opportunity, For Sale Freehold
POSTED ON27th July 2020
• An opportunity to acquire a high yielding mixed use investment opportunity to acquire a property arranged across ground, first and second floor, comprising a retail unit (Use Class A1/D1) and a 1 bedroom flat on the ground floor, along with a 3 bedroom HMO arranged across the upper floors.
• The ground floor retail unit extends to approximately 390sqft NIA and is let for a term of 5 years from the 28th April 2017 at a rental income of £13,000 per annum. The lease is excluded from sections 24-28 of the Landlord and Tenant Act 1954.
• The 1 bedroom apartment to the rear of the ground floor extends to approximately 533sqft NSA and is currently producing a rental income of £13,800 per annum. The flat has its own private entrance from the rear of the building.
• The 3 x self-contained studio HMO arranged across the upper floors extends to a total area of approximately 572sqft NSA. We have been advised it produces a rental income of £32,058 per annum (LHA rates). The HMO provides a large communal kitchen on the 1st floor.
• The property is currently producing a combined rental income of approximately £58,858 per annuum.