Property description
We are delighted to offer for sale this valuable property that comprises of three shops with frontage to the west side of Regent Road (at the east end) and 4 permanent flats as let on assured short hold tenancies.
Two of the three shops are let for 2015.
Commercial
Shop One - comprising 77.59 square metres and with a 4.74 metre frontage to Regent Road this shop is available to let. The estimated rental value is £11,500 per annum.Shop Two - comprising 38.79 square metres and with a 2.37 metre frontage to Regent Road this shop is let to a photographer now trading in his second year and paying a rent of £6,500 per annum.Shop Three - comprising 57.63 square metres and with a 4.011 metre frontage to Regent Road this shop is let to a tattooist who has been trading for many years and will be in occupation in 2015. The rent being paid is £11,500 per annum.All the shops share a WC to the rear of Shop Three. Access is via a passage way.
Residential
The four flats vary in size from one to three bedrooms. The one bedroom flat should be vacant shortly but will be re let. The other three have had the same tenant for a while. Each flat is let on an assured short hold basis.The flats are accessed from a courtyard that is approached from Albion Road. Details of the rents are as follows:Flat One - £95 Per weekFlat Two - £395 Per calendar monthFlat three - £415 Per calendar monthFlat Four - £99 Per week
Services
Mains services are connected. The shop electricity is paid for by the freeholder out of the rents. The residential guys pay their own electricity.
Rates
The shop rents exclude business rates.2010 rateable value of:-No. 83 - 9,700. No. 84 - £7,000. No. 84A - £7,800.The rate in the £ for 2015 - 2016 is 48pThe flat dwellers pay the council tax band 'A'
Repairs
The freeholder is responsible for all repairs to the building.
Property Features :
- Mixed Commercial and Residential Investment Property
- Mostly let and producing up to £45,000 per annum gross (from which expenses are met)
- 3 retail shops - 2 currently let
- 4 flats
- Located in popular Regent Road for seasonal holiday trade