It’s a retail unit on the ground floor comprising of A1 retail space, a private kitchen, storage room & wc, ideally located close to all the main shops & car park. It has electric shutters for security.
The property has undergone a £100,000 refurb and is practically a completely new building, windows have been boarded up with UPVC and between exchange and completion of the property purchase, all new double glazing throughout will be put in for the new owner, which has already been paid for.
There is the potential to add value with parking round the back by knocking the rear fence down as there is vehicular access. Each room is estimated to bring in around £85-£90 per week (potential for a lot more if you included furnishings & other amenities). As it is currently just a 3 bed flat its rentable value is around £6,000 per annum – making it worth applying for an HMO license for extra income.
With separate access to the rear, there is the entrance to the 3 bed flat. It is laid out as a 3 bed HMO (not currently licenced), which comprises of 3 good sized double bedrooms, a kitchen/diner & 2 shower rooms. There is also a balcony out the back as well.
Agent reports from last year state the value is around £225,000, but the vendor is open to negotiation around 20% bmv for a swift sale.
Property is fully tenanted producing £14,040 PA. Gross Yield 7.8%