An attractive mixed use investment comprising a retail premises over the ground floor and basement, two studio apartments, and a rear garage.
The property is situated in a prime location on Gloucester Road, renowned for its vibrant mix of independent shops, cafés, restaurants and everyday amenities.
DESCRIPTION -
An attractive mixed use investment comprising a retail premises over the ground floor and basement, two studio apartments, and a rear garage.
The property is currently producing £22,200 per annum, with one studio flat and the garage vacant. Once fully let, the property is expected to achieve a rental income in the region of £33,000pa.
LOCATION -
The property is situated in a prime location on Gloucester Road, renowned for its vibrant mix of independent shops, cafés, restaurants and everyday amenities, and is within close proximity of Bishop Road.
TENURE -
Understood to be freehold. The first floor flat has previously been sold on a long lease.
LEASE DETAILS -
The shop is let on the remainder of a 10 year lease from 2020 at £12,000pa with no break options or rent reviews outstanding.
The basement studio flat is let on an AST at £850pcm.
The ground floor studio flat is currently vacant but we anticipate a rent of circa £750pcm to be achievable.
The garage is also vacant put would suggest a rental value of £150pcm.
BUSINESS RATES -
The rateable value for the shop with effect from 2026 is £7,300. We therefore would expect those eligible for small business relief to benefit from 100% exemption at this time. However, we advise all interested parties to confirm directly with the local authority.
ENERGY PERFORMANCE CERTIFICATE (EPC) -
EPC ratings:
Shop - E
Ground floor studio - C
Basement studio - C
FLOOR PLAN -
The floor plan is provided for indicative purposes only and should not be relied upon.
VAT -
All figures quoted are exclusive of VAT unless otherwise stated.
VIEWINGS -
By appointment.
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.
