Freehold shop (currently let) with flat over (sold on long lease)
Rare opportunity
Close to town centre and seafront
Offered for sale subject to the above tenancies showing a return of 8.91% before purchasers costs
Maisonette also for sale via a residential estate agent
Description:
Silchester Road is accessed directly from the main A2102 London Road which then links to the A259 South Coast Road on the fringe of the town centre. Other businesses close by include J S Gedge motorcycle dealer as well as a news agent and glazing company.
The premises comprise a self-contained lock up shop with maisonette over which has been sold on a long leasehold interest. The shop is also let under the terms of a 5 year lease from 2017 at a passing rent of £8,400pa. However we are advised the tenant isnt in occupation currently although has sublet and is in arrears of rent which the landlord is looking to recover.
Middle section – 3.9m (12 foot 9 inches) x 2.67m (8 foot 9 inches) – 10.4 sq m (112 sq ft) , doors to:
Cloakroom fitted with low level wc and wash hand basin.
Shower room – not inspected. wide opening to:
Kitchen – 5.8m (19 foot) x 2.6m (8 foot 6 inches) – 15.1 sq m (162 sq ft) fitted with stainless steel sink unit, base units and worktop. Door to:
Rear section overall 67.3 sq m (726 sq ft) used for storage.
Basement – not inspected.
Total usable area 123.6 sq m (1330 sq ft)
There is a maisonette over let under the terms of a long leasehold interest. We are advised the flat tenant is responsible for 2/3 of the insurance of the premises and pays £64.50 ground rent to the freeholder annually. The lease was extended in December 1996 for a term of 189 years to 24 December 2185.
There is on-street car parking immediately outside.
Offered for sale freehold subject to the above lettings and showing a return currently of 8.91% before purchasers costs.
