Floorplans

Property details

  • Commercial Freehold Investment
  • Let and Producing £36,500 Per Annum
  • Potential PD Development on Upper Floors
  • High Yielding 8.1% Return
  • City Centre Location
  • Extremely Rare Opportunity
  • Standard Buyers Fee Applicable
FOR SALE BY PUBLIC AUCTION ON 29TH SEPTEMBER 2021

Extremely rare opportunity to purchase this exceptional freehold commercial investment let and producing £36,500 per annum, comprising as follows.

Ground Floor
Let to St Wilfreds Hospice on a FRI lease for a period of 10 years from 6th June 2014 expiring on the 5th June 2024 at a passing rent of £25,000 per annum. Under the terms of the lease, the tenants are liable for two thirds of the cost towards any repair and all insurance contributions. We are advised this lease has been granted outside of the 1954 Landlord & Tenant Act.

First & Second Floor
Let to Miss Thuy La on a IRI lease for a period of 10 years from 31st November 2003 expiring on 31st December 2013 and has been holding over for the past 8 years at a passing rent of £11,500 per annum. Under the terms of the lease, the tenant is responsible for one third of the cost of all insurance contributions.

Total passing rent £36,500 per annum

It is considered that Permitted Development Rights are able to be implemented in respect of the the first and second floors into residential however all interested buyers are advised to make their own enquiries with the local authority.

Property location

We know just the place...

Lextons Estate Agents