Summary
| Property Type | Investment |
| Tenure | For Sale |
| Size | 3,100 sq ft |
| Price | £415,000 Subject to Contract |
| Rates Payable | £2.50 per sq ft |
- Fully let investment premises on a long lease
- Commercial retail plus 2 x residential flats
- Lease provides for a 15 year Lease from 2020
- Rent reviews in years 5 (2025) and 10 (2030)
- 2,222 Sq.ft commercial retail and storage
- Studio flat: 343 Sq.ft / 1 bed flat: 535 Sq.ft
- Commercial Rateable Value: £15,500
- £28,000 pax rental income - 6.8% yield
About
The property provides a three storey former Natwest bank premises of traditional construction with brickwork elevations under a part pitched tiled roof and part flat roof with external forecourt and secure rear garden/yard area for parking, bin storage and loading.
The commercial element provides 2,222 Sq.ft of accommodation over ground, first, second and basement floors comprising 1,625 Sq.ft ground floor commercial retail accommodation, 255 Sq.ft first floor storage, kitchen and toilet facilities, 120 Sq.ft second floor storage and 222 Sq.ft basement storage.
First floor 1 bedroom flat: 535 Sq.ft comprising bedroom, living room, kitchen, shower/toilet facilities.
First floor 1 bedroom studio flat: 343 Sq.ft comprising bedroom, kitchen, shower/toilet facilities.
The Tenant has the benefit of the rental income from the two flats which we understand provides an income of £600pcm/£7,200 pa for the 1 bedroom flat and £500pcm/£6,000 pa for the studio flat.
Location
The property is located in the heart of Romiley village between Central Drive and Sandy Lane opposite Sainsbury’s Local and Romiley Forum Theatre. Romiley train station and Aldi supermarket are both a short walk away.
- Stockport: 4 miles.
- M60 motorway: 2.5 miles.
Mainline Stations
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Romiley5 mins
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Woodley22 mins
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Rose Hill Marple25 mins
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Bredbury25 mins
Underground Station
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Chesham2574 mins
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Amersham2613 mins
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Chalfont and Latimer2637 mins
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Chorleywood2670 mins
Further Information
-
Rateable Value
Rateable value: £15,500.
Small Business Rates Multiplier 2023/24: 49.9p.
Interested parties are advised to make their own enquiries with SMBC - 0161 474 5188. -
Tenure
We understand that the property is Freehold.
Title Number: GM808233. -
Price/VAT
£415,000 SUBJECT TO CONTRACT.
We understand VAT is not payable on the sale. -
EPC
Energy performance rating: C.
A copy of the EPC is available from Agents MBRE. -
Utilities
Mains services are available including gas, electricity, water and drainage.
-
Lease Terms
The property benefits from a commercial Lease commencing October 2020 for a term of 15 years with a Tenant option to break on the 3 year anniversary of the commencement of the term (lapsed).
The Lease benefits from rent reviews at years 5 and 10 and subject to a passing rent of £28,000 per annum exclusive.
A copy of the Lease is available from Agents MBRE. -
Planning
The Tenant secured planning for the proposed change of use to provide a 1 bedroom flat and studio flat at first floor level.
Prior approval was not required and planning was therefore granted 21st April 2022 under planning application reference number DC/084605. -
Legal Costs/Conditions
Each party to pay their own legal costs.
Subject to Contract.
Gallery
