MIXED USE RETAIL & RESIDENTIAL INVESTMENT
The investment is a Grade 2 listed property which comprises two ground floor shops with two, one-bedroom flats above. The accommodation above the second shop has been sold off on a long leasehold interest. To the rear of the property is a large car parking area with designated spaces for each tenant and adjoining flat holders of other premises also have the right to park on this yard and they contribute towards the upkeep through a communal service charge.
Along the south side of the property is an access strip which is presently leased from Railtrack. It is the subject of an annual licence which has been in existence since 2004 and provides pedestrian access to the rear car park.
Offers invited in excess of £500,000. Based on a rental income of £37,850 per annum, this equates to a net initial yield of 7.1% after allowing for purchaser’s costs of 6.5%.