High yielding mixed use investment producing nearly £29,000 pa Let shop and four let flats

This Grade II listed mid terrace property comprises of five self contained units spread over two storeys and an attic. It is arranged as one ground floor let shop, two flats on the first floor and two flats on the second floor. Currently all are let producing £28,950 pa. The property is located in the town centre close to the beach and pier and near to a range of services and amenities. This is an ideal opportunity for an investor looking for a high yielding investment.

Tenure

Freehold

Description:

Ground Floor: Communal entrance hall and bike store. Flat 1 (481 sq/ft) First floor: Entrance hall, kitchen, lounge, bedroom, bathroom One bedroom flat let on an Assured Shorthold Tenancy dated 10th August 2018 at £400 pcm (£4,800 pa)

Flat 2

Flat Two (660 sq/ft) First floor: Entrance hall, kitchen, lounge, study, bedroom, store room One bedroom flat let on an Assured Shorthold Tenancy dated 23rd December 2019 at £450 pcm (£5,400 pa)

Flat 3

Flat Three (610 sq/ft) Second floor: Entrance hall, lounge, bedroom, kitchen, bathroom One bedroom flat let on an Assured Shorthold Tenancy dated 11th February 2019 at £400 pcm (£4,800 pa)

Flat 4

Flat Four (766 sq/ft) Second floor: Entrance hall, two bedrooms, shower room with wc, lounge, kitchen Two bedroom flat let on an Assured Shorthold Tenancy dated 28th February 2020 at £475 pcm (£5,700 pa)

Tea Room

The ground floor tea room trades as Buttercups and is let at £8,250 pa on a 12 year lease from December 2015 (6 years remaining). According to the valuation office website it has an area of 70.4 sq/m and a rateable value of £6,800 wef 1st April 2017. Ground floor: Two dining rooms accommodating 34 covers, kitchen, rear storage / office room

Viewings

Individual appointments can be arranged - the next are on Thursday 29 April - BOOKING ESSENTIAL - Please call the Norwich office on 01603 505100 to book the next available slot

Energy Efficiency Rating (EPC)

Current Rating E

Services

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

Local Authority

North Norfolk District Council. Tel: 01263 513811

Solicitors

Spire Solicitors LLP, Holland Court, The Close, Norwich, NR1 4DY, Ref: Tom Henderson, Tel: 01603 886236

Additional Fees

Administration Charge - 0.3% inc VAT of the purchase price, subject to a minimum of £1140 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.