Merrywalks, Stroud, Stroud

£1,250,000 - For Sale

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Telephone: 0117 973 4940

Email: admin@maggsandallen.co.uk

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Property Details

A substantial freehold investment comprising 8 well-presented apartments with an additional two storey restaurant of circa 4,000sqft. 7 of the 8 flats are currently let and the restaurant will be sold subject to a new lease at £45,000pa. Potential gross annual income of approximately £92,280pa. Situated on the A46, next door to 'McDonalds' and within easy access of Stroud town centre. Early enquiries recommended.

DESCRIPTION -

Well-presented mixed freehold investment comprising 8 self-contained one bedroom apartment's with a two storey restaurant of approximately 4,000sqft below, and car park to the front.

Our client has recently reopened the restaurant and intends to take a new commercial tenancy at approximately £45,000pa.
7 of the 8 flats are currently let.

LOCATION -

Situated on the A46 next to 'McDonalds' within close proximity of Stroud town centre.

TENURE -

Offered for sale Freehold subject to the occupational leases.

TENANCY DETAILS -

Although we are yet to receive a copy of the tenancy agreements, we are informed the property is let on the following basis:

Flat 1 - Currently Vacant
Flat 2 - Let at £475pcm on an Assured Shorthold Tenancy
Flat 3 - Let at £495pcm on an Assured Shorthold Tenancy
Flat 4 - Let at £495pcm on an Assured Shorthold Tenancy
Flat 5 - Let at £495pcm on an Assured Shorthold Tenancy
Flat 6 - Let at £495pcm on an Assured Shorthold Tenancy
Flat 7 - Let at £495pcm on an Assured Shorthold Tenancy
Flat 8 - Let at £495pcm on an Assured Shorthold Tenancy

Restaurant - Our client has recently relaunched the restaurant and intends to sell the freehold subject to a leaseback at £45,000pa. Full terms to be agreed. I.e a potential gross rental income of £92,280pa once Flat 1 is tenanted.

VIEWINGS -

Strictly by appointment with Maggs & Allen.

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ENERGY PERFORMANCE CERTIFICATE -

Rating:
Flat 1 - F
Flat 2 - F
Flat 3 - F
Flat 4 - F
Flat 5 - C
Flat 6 - C
Flat 7 - E
Flat 8 - E

Restaurant - C

VAT -

All figures quoted are exclusive of VAT unless otherwise stated.

CONTROL OF ASBESTOS REGULATIONS -

As per the Control of Asbestos Regulations 2012, the owner or tenant of the property, or anyone else who has control over it and/or responsibility for maintaining it, must comply with the regulations which may include the detection of and/or management of any asbestos or asbestos related compounds contained at the property. Maggs & Allen has not tested or inspected for Asbestos and therefore recommend all interested parties to make their own enquiries.

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Maggs & Allen use all reasonable endeavors to supply accurate property information in line with the Consumer Protection from Unfair Trading Regulations 2008. These property details do not constitute any part of the offer or contract and all measurements are approximate.
It should not be assumed that this property has all the necessary Planning, Building Regulation or other consents. Any services, appliances and heating system(s) listed have not been checked or tested. Please note that in some instances the photographs may have been taken using a wide angle lens.
Any site and floor plans provided are for indicative purposes only and should not be relied upon.