Studio flat for sale

A prominently located two storey mixed use premises offered to the market as an income producing investment with the current tenant, Hightown Mini Market (lease in private individuals name) occupying the ground floor by way of an IRI Lease. The ground floor comprises a sales
area that extends to 280 sq ft to the rear of which is a walkthrough store providing a further 100 sq ft leading to a lobby area adjacent to the back door, beyond which is the ground floor bathroom. Above the shop and with its own separate entrance from the rear is a spacious 1 bedroom flat. The flat is let on a Shorthold Tenancy Agreement for 12 months until 28th September 2025 at £695 pcm (£8,340 pa) and comprises a lounge, kitchen, bedroom, study room and shower room with electric heating and some fitted furniture included. Internally the retail unit benefits from a suspended ceiling with single glazed aluminium frontage and door plus CCTV. The property is being sold with both tenants in situ and is not available with vacant possession.

The property is located on Hightown, a short walk from the town centre and surrounded by a mix of commercial and residential property. A free public car park is located a 30 second walk away.

Mains water, drainage and electricity are connected. No services have been tested by the agents.

The purchase price is not subject to VAT.

Available freehold, subject to contract and with the benefit of the existing IRI lease and STA agreement.

Rateable Value: £4,550
The tenant is responsible for payment of any business rates liability where applicable.

26a Hightown - Band A
The tenant is responsible for paying the council tax.

The ground floor is let to a private individual at £7,800pa on an IRI lease from 30th September 2022 for 10 years. Copy of the lease available upon request. The first floor is let to a private individual at £8,340pa on an AST agreement from 29th September 2024 for 12 months. Copy of the lease available upon request.

In accordance with the anti-money laundering regulations, two forms of identification will be required (e.g. photographic driving license, passport, utility bill) from the applicant and a credit check may also be required, the cost of which will be the responsibility of the applicant. Where appropriate we will also need to see proof of funds.