For Sale - Ground floor retail unit and self contained 2 bedroom flat - fully income producing - The property comprises a three storey mid terraced building of brick elevations beneath a pitched roof. The ground floor provides a prominent retail unit incorporating a glazed retail frontage. The premises are occupied by Luke Horton Art, who uses the spacious open plan sales area to display local artwork, as well as a back room for staff which includes a WC and Kitchenette.
The upper floors comprise a 2 bedroom, self contained apartment accessed to the rear of the property via an external stairwell. The property is set over two storeys, at first floor the property includes a kitchen dining room, shower and w/c room, and a good sized lounge. At second floor two good sized double bedrooms are present.
The property is fully occupied with two separate occupiers, producing a combined £20,640 per annum exclusive. The rental income is derived from a retail occupier and a residential occupier.
The ground floor retail premises were let to Luke Horton Art from 17th March 2022 on a new 5 year effective full repairing and insuring lease at an annual rent of £13,500 per annum exclusive.
The first floor residential accommodation is let on an Assured Shorthold Tenancy at a rent of £595 per month (£7,140 per annum), due to expire on June 9th 2023.