Studio flat for sale

The property comprises of ground, basement, first and second floor of a three storey terraced building with brick facia beneath a pitched roof. Ground and basement floor provides a bar area and restaurant area with seating on loose tables and chairs for 80 customers. Ancillary areas include a trade kitchen and customer WCs. Basement includes a separate function room and bar.Uppers comprise of two 1 bedroom flats and a two bedroom flat all sold off on long leases with ground rents at 100 for the one beds and 200 for the two bedroom flat.TenureThe property is held freehold. TenancyThe ground and basement floors are let to Yak & Yeti Limited on a new 15 year lease from 01 Aug 2023 at a current rent of 34,000 per annum which is subject to five yearly open market rent reviews. PlanningThe property is not listed or situated within a conservation area.TermsWe are instructed to invite offers at 550,000 (6.18% NIY) assuming the usual purchasers costs.Additional info:Each of the upper residential leases have approx 65 years remaining