Property Details
The property which currently trades as a convenience store is a ground floor retail unit offering a large sales area plus storage space and W.C with useful dry basement. Externally the property has fitted double glazed windows and is protected by fitted steel security shutters.
On the 1st floor, the property offers 3 large bedroom apartment consisting of 3 double bedrooms, lounge, bathroom & kitchen.
Basement 722 sq ft (67 sq mtr)
Ground floor 760 sq ft (71 sq mtr)
1st floor 760 sq ft (71 sq mtr)
2nd floor 550 sq ft (51 sq mtr)
TOTAL Approx. GIA 2,792 sq ft (259sq m)
Rental Income
The retail unit is currently let for a term of 6 years from 01/04/2018. on Full repairing & insuring terms (FRI) at a rent of £12,000.00 per annum, payable monthly.
The 1st floor is let to 3 individuals on separate tenancies
Room 1 let a@ £480.00 per month on a periodic tenancy
Room 2 let @ £470.00 per month on a periodic tenancy
Room 3 let @ £450.00 Per month on a fixed term expiring 01/03/2022
The rent for the rooms in the apartment are based on an all inclusive deals which includes all bills.
Total annual gross income £28,800.00
Business Rates
Ratable Value: £ 8700.00
Rates Payable: £ 4454.40 maybe subject to Small Business Rates Relief.
Tenure
Leasehold. 900 Years from 07/11/1923. An annual ground rent is payable for £10.50 per annum payable to Estates & Management.
EPC's
Retail Unit C:67
Apartment D:56
VAT
All prices, rents and outgoing costs are exclusive but may be liable for VAT.
