Retail Property (out of town)
4
On Behalf of the Joint LPA Receivers
An end terraced and mid terraced property, situated in a small parade of shops. To the ground floor is a double fronted retail unit with two apartments above. The property has also been extended with a single storey extension to the side and rear.
Commercial Investment
A Freehold Commercial Investment Property with Two Apartments above
Current Gross Income: £20,400 pa. with scope for improvement
The ground floor of 29 and 29a is let on a Lease for 16 years commencing on 20th December 2011, at an initial rental of £15,000 per annum with upward only rent reviews on the 2nd anniversary from the date of the Lease and then every 5 years, the rent being reviewed on an open market basis.
Flat 1 is vacant - in need of repair and refurbishment.
Flat 2 is let on an Assured Shorthold Tenancy from 1st February 2014 for a period of 12 months, at a rental of £450 per calendar month - £5,400 per annum.
We understand that the property is Freehold and is being sold subject to the existing tenancies.
By courtesy of the Tenants in occupation.
