Price Offers in the region of £165,000 for the freehold interest & long leasehold interest of the ground floor retail unit with benefit of existing leases.

Rates Payable £3,361.60 per annum based on the 2026 valuation.

EPC Rating This property has been graded as D (86)

Description

The property comprises the freehold interest of this attractive building. 4 flats above & an office building to the rear have been sold off by way of long leasehold interests, whilst our client has retained the freehold interest & a long leasehold interest of the ground floor for a term of 999 years from 2022 which is what we are offering. Under our clients long leasehold interest they have let the ground floor shop for a term of 4 years from 24 June 2026 to a private individual at a rent of £11,250 per annum exclusive. In addition to the shop rent the freeholder also collects a combined ground rent of £950 per annum. thus making the combined income of £12,200 per annum. The long lease interests in the building which the freehold benefits from are as follows: GF Shop Front-£250 pa-999 years from 12 May 2022, Flat 1- £250 pa-125 years from 16 February 2018, Flat 2 No GR- 999 year lease from 2026, Flat 3-£250-pa 125 years from 26 November 2021, Flat 4 £250 pa- 125 years from 29 January 2018, GF rear commercial -£100 pa-999 years from 24 June 2005 FF & SF rear commercial -No GR-999 years from 24 June 2005.

Terms

Offers are invited in the region of £165,000 for the freehold interest along with their long leasehold interest of the ground floor shop unit. A purchase at this level based on the income of £12,200 per annum would show a gross yield of 7.4% & a net yield of 7.25%

Viewings

Strictly to be arranged via vendors agent.