Mixed-use investment producing £15,500pa with planning consent to build a 1 bedroom maisonette on the side

A two storey mixed-use investment comprising a retail unit on the ground floor with 1 bedroom flat on the first floor. Both parts are currently let and producing an income of £15,500pa. Planning consent has been approved under application number BH2020/02560 for the erection of a two storey side extension to create a 1 bedroom maisonette with parking and garden.

Lot Type

Residential for Improvement

situation

The property is situated in the popular Portslade Village, approximately 1 mile from Portslade railway station and Boundary Road. There are a number of popular schools nearby and a handful of shops and cafes in the village. The development of the former Le Carbone factory to provide 48 residential units and 7,000sqft of commercial space will transform the area once complete.

accommodation

Ground floor 254sqft (23.61sqm) Kitchen and WC at rear Door to garden Let on a 5 year lease from February 2020 at £6,500pa First floor 1 bedroom flat (not inspected at time of going to print) Let on an AST at £750pcm (£9,000pa) Please note there will be a 6 week completion period due to the Christmas holidays, or sooner if agreed by both parties.

Additional Fees

Administration Charge - Purchasers will be required to pay an Administration fee of 0.5% (inc VAT) of the sale price, subject to a minimum of £1,500 (£1,250 plus VAT)

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