Mixed use investment property - 16.56% gross yield

A mixed use, freehold investment property occupying a prominent position in this sought after market town on the fringe of the Lake District National Park. The property comprises a ground floor shop unit which is let at £14,400 per annum and a self-contained first floor flat let on an Assured Shorthold Tenancy at £525 per month giving a total income of £20,700 per annum which equates to a gross yield of 16.56% at the guide price.

Tenure

See Legal Pack

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Ground Floor Shop

Main Shop area 22'9 wide x 20' deep Rear Store 7'9 x 7' Rear Office area 9'6 x 5'6 inc WC

First Floor Flat

Hall Living Room 14'6 x 14' Kitchen 13' x 10' Bedroom 14'9 x 10'6 Bedroom 14'9 x 12'6 Bathroom 8' x 5'9 Boxroom

Tenancies

The shop is let at £14,400 per annum and the flat on an Assured Shorthold Tenancy at £525 per month giving a total income of £20,700 per annum which equates to a gross yield of 16.56% at the guide price.

VAT

VAT will be applicable on 45% of the purchase price. See legal pack for full details. Interested parties are advised to consult their own solicitor and accountant for advice on this matter.

Energy Efficiency Rating (EPC)

Current Rating CC

Services

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

Local Authority

Cumberland Council

Solicitors

BPK Solicitors, Clifford Court, Ref: Duncan Carter, Tel: 01228 888999

Additional Fees

Administration Charge - 1.2% inc VAT of the purchase price, subject to a minimum of £1500 inc 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.