Studio flat for sale

▪ SUBSTANTIAL MIXED USE INVESTMENT▪ POTENTIAL INCOME C £27,000 PA▪ FREEHOLD▪ NO VAT▪ CAR PARKING AT REAR▪ RETAIL UNIT + 1 & 4 BEDROOM FLATSTHE PROPERTYThe property is located in an established retail and residential area close to Kidderminster Town Centre.ACCOMMODATIONThe building comprises a brick built property over three floors with a self contained retail unit with front and rear access, a self contained single bed flat to the rear at ground floor and a 4 bed duplex flat on the first and second floors with self contained access from the rear. Private car parking is available at the rear of the building along with external amenity space.Ground Floor Retail 617 sq ft (57.3 sq m)Ground floor - one bedroom flatFirst and second floors - 4 bedroom flatRENTALSCurrent rentals passing :Shop £725 pcmI bed flat £640 pcm2 bed flat £750 pcmCurrent Rental £25,380 pa grossPotential Rental c £27,000 per annumBUSINESS RATES & COUNCIL TAXCurrent rateable value for the shop is £7,200 (April 2023) Both Flats are Council Tax Band A.LEASES AND TENANCIESThe shop is Let on a new 6 year lease. The flats are let on standard AST’sPRICEOffers are sought in excess of £295,000 NO VATLEGALSEach party to pay all own costs in respect of this transaction.VATWe understand VAT will not be charged on the sale of this property.VIEWINGPlease contact the Agents.GENERAL TERMSReferences The successful tenant / purchaser will need to provide either a satisfactory bank reference and / or two trade references for approval.Money Laundering The successful tenant will be required to submit proof of identity, in accordance with money laundering regulations.Fixtures & Fittings Any fixtures and fittings not expressly mentioned within these particulars are excluded from the transaction.Areas & Dimensions All areas and dimensions are deemed to be approximate only.© Walton and Hipkiss