Mailbox Estates present a rare opportunity to acquire a Freehold commercial property.
Fantastic investment opportunity for a property investor for guaranteed rental income.
Substantial two storey building which briefly comprises of a single front high street presence. This involves a retail shop area, large stock room to the rear. The first floor includes a two bedroom residential premises with a Gable roof terrace.
The Opportunity: * Rental income Of £775 per calendar month for retail store and is due to increase in July 2024 to £950.00 * The accommodation rental income is £700 per calendar month * Rare opportunity to acquire a freehold * Town Centre location * Future Investment
Price * £300,000 OIRO
Tenure * The Freehold property is offered for sale. * A copy of the lease will be made available to seriously interested parties.
Rent: * The rent for the retail store is currently £775 per calendar month and is due to increase in July 2024 to £950.00
* The rental income for the accommodation is £700 per calendar month and has been occupied by the same tenants for more than 18 months.
* The TOTAL rental income per annum is £17,700 with a rent review every third anniversary for the rental store and 12 monthly for the accommodation.
Accommodation * 2 bedroom flat with an ensuite and kitchen which is offered in excellent condition. * The accommodation is leased to the tenant with 3 years remaining on the lease. The tenant has just been assigned the current lease and the lease will be renewed at the end of the term.
Reason For Sale: * Genuine sale due to bigger investment opportunity coming the owners way.
Location: * Traditional old school property in a high street location * The store sits alongside other complimentary retail businesses including, a pharmacy and a large supermarket and benefits from a large footfall
Size * The store occupies 721 sq. foot trading space with an open plan sales area and is fitted and equipped to a high corporate standard.
Internal: * The property is well presented and maintained. The property is offered in good conditions with no leaks or roofing issues.
Legal costs * Each party to be responsible for their own legal costs in connection with the sale. * Landlord's legal fees are the buyers and sellers responsibility and are to be shared equally.
Viewing arrangements: * Mailbox Estates highly advise early viewing to avoid disappointment. * Discreet customer visits are encouraged but ON NO ACCOUNT SHOULD ANY DIRECT APPROACH BE MADE TO THE VENDOR OR ANY OF IT'S STAFF.
DEPOSIT * Once an Offer has been accepted the successful buyer/s are required to pay a deposit to secure the sale, and is held in protected client account.