Commercial & Residential Investment Producing £44,004 pa - with Consent to Convert Upper Floors to 3 no. Flats

Substantial two storey semi-detached property briefly comprising two ground floor commercial units, no. 249 occupied as Bunga Raya Malaysian Restaurant, no. 251 Huffys Bar (coffee shop/bar) together with first floor tenanted two bed flat to the rear. In addition the first and second floor former offices which now benefit from consent to reconfigure/renovate to convert to 3 no flats (1 x one bed on second floor and 2 x two beds on the first floor at the front). The property is currently let as follows: No. 249 - Bunga Raya Malaysian Restaurant - £10,320 pa - new 10 year lease from November 2017 (understood to have been in occupation since 2008). No. 251 - Huffys Bar - £26,784 pa - 12 year lease from 2007 (the tenant’s have expressed an interest to renew at lease expiry). First Floor - Rear two bed flat - let to a private individual at £575 pcm (£6,900 pa) - understood to have been in occupation for approximately 4 years Hoarding currently vacant - previously let at £230 pcm (£2,760 pa). The current rental income is therefore £44,004 pa. A maintenance charge totalling £1,828 pa is also received from the tenants. Upon completion of the upper floor conversion and when fully let, the estimated rent would increase to over £70,000 pa. The property is situated in the centre of Hazel Grove with nearby occupiers including McDonalds, American Golf and Poundstretcher.

Tenure

To Be Confirmed In Legal Pack

Viewing

Please contact Auction House North West Commercial on 0161 830 7477

Energy Efficiency Rating (EPC)

Current Rating D

Local Authority

Stockport Metropolitan Borough Council

Additional Fees

Buyer's Premium - £900 including VAT payable in addition to the Administration Charge

Administration Charge - 0.9% including VAT subject to a minimum of £900.00 including VAT

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