Mixed use

FOR SALE BY AUCTION - -Lot 41 - Two Tenanted Commercial Properties and Three Vacant Flats
ONLINE AUCTION from 8th NOVEMBER-10th NOVEMBER

A three storey, mixed use development located in the town of Porth.

The ground floor is comprised of two commercial units, these being a caf and barber shop. Both of the tenants have been residing at the property for approximately 10 years and are paying a monthly rental of £300 each. Based on our guide price, this provides a 6% yield.

There are three two bedroom flats located above the retail units, the current vendor has started renovation work however further work is required. The flats are accessed via a separate entrance on Porth Street. It is anticipated that these flats will each achieve £500 per month rental income once fully refurbished.

Once the property has been refurbished it is anticipated that the property will achieve £2,100 per month rental income, therefore providing a 21% yield based on our guide price.

Accommodation
FloorDescriptionRentGround FloorCafe£300 pcmGround FloorBarber£300 pcmFirst Floor - Flat 1Kitchen/living room, 2 bedrooms, bathroom£500 pcm (predicted)First Floor - Flat 2Kitchen, living room, bathroom, 2 bedrooms£500 pcm (predicted)Second Floor - Flat 3Kitchen/living room, 2 bedrooms, bathroom£500 pcm (predicted)Total£25,200 pa (predicted)

Tenure:
Advised Freehold - to be verified by solicitor

Tenancies:
Commercial Unit 1: Barber shop, tenanted on a gentleman's agreement, £300 pcm, occupancy
Commercial Unit 2: Caf, tenanted on a gentleman's agreement, £300 pcm, occupancy
Flat 1: Vacant
Flat 2: Vacant
Flat 3: Vacant