The building is a mid-terrace building comprising basement, ground, first and second floors. The property is of mixed-use comprising ground floor retail premises, currently trading as a restaurant, with an opening into the neighbouring property, service yard to the rear and two 2xbedroom residential flats on the upper floors. To the rear (Lower Bannister Street) is a service yard with rear access to the flats via a steel external staircase.
The ground floor property is let to a private individual trading as Sakura for a term of 20 years commencing 27th July 2016 at a passing rent of £13,500 per annum exclusive. The lease is drawn on standard full repairing and insuring terms and subject to a rent review on an upward only basis every third year. The lease provides a desirable 15 years to expiry. To be sold with vacant possession of the flats which have a total estimated rental value of £16,800 per annum.
Investment to Buy Investment - Retail High Street
• Opportunity to add value - Two flats & Restaurant
• Guide price £400,000
• Good trading location
• Commercial income £13,500 per annum
with long lease in place
• Two vacant flats