Freehold shop investment

Freehold Town Centre shop currently producing £6,000 per annum. This three storey building is located in the heart of the picturesque market town of Bungay. The property comprises of a ground floor shop currently let to an established tenant and produces £500 pcm (£6,000pa). There are two flats situated above ground level both sold off on long leases. This is an excellent investment opportunity. There is a peppercorn rent received from the two upper flats sold on 999 year leases from February 2006. The shop and two flats are responsible for a third of the split of any service costs. Bungay is well served by a range of shops, schools and other amenities.

Tenure

Freehold

Description

Ground Floor

Retail space, offices, storage extending to approx 50 sqm

First Floor

Split into two self contained flats each with: Entrance hall, sitting room, kitchen, bedroom, shower room

Note

The shop is currently let for £500pcm (£6,000pa) the tenant is currently holding over on current lease however has indicated that he wants to stay and extend the term

Viewing

Open days - dates and times to be confirmed

Energy Efficiency Rating (EPC)

Current Rating G

Services

Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services.

Local Authority

Waveney District Council. Tel: 01502 562111

Solicitors

Notary Express, The Paddocks, Silfield Road, Silfield, Wymondham NR18 9NJ, Ref: Mr Meddick, Tel: 01953 711609

Additional Fees

Administration Charge - 0.3% inc VAT of the purchase price, subject to a minimum of £1,200 (£1,000+ VAT), payable on exchange of contracts.

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.