2 bedroom flat for sale
Key information
Property description & features
- Tenure: Freehold
- Investment opportunity
- Potential 8-9% yield
- Potential to renovate accomodation into 2 bedroom flat
- Open plan living space
- Retail space with large display window
- Town centre location
- Parking space
Retail space on Fore Street with accommodation above which has been partially renovated requiring completion. Kingsbridge town centre and private parking space.
Description
An interesting opportunity to purchase a small commercial unit on Fore Street Kingsbridge in a Grade II listed building with partly renovated accommodation above. The property comprises of a first floor property and a commercial shop.
First Floor Accommodation:
The property is accessed from the alley and the entrance door enters to the ground floor hallway with access to one room which has potential to be a bedroom or office (all subject to planning) and a further access to a potential shower room.
Stairs lead to first floor with further potential bedroom (subject to planning), WC and open plan living space with beautiful bay window.
The kitchen is fully fitted and brand new and includes oven, hob and extractor.
Planning was previously approved for a 2 bedroom flat but that planning would need to reinstated. The expired plans for this are available so any potential buyer can view.
Ground Floor Premises:
Ground floor retail premises with large main display window and good footfall. Previously used as a Letting Agency, and benefits from small kitchenette area and WC.
Rateable value - £5900 with £0 business rates to pay with business rates relief.
The property also has a private parking space to the rear.
The accommodation requires refurbishment to be completed subject to planning permission and building regulations. Once completed this accommodation could offer a rental potential. The commercial space below was previously achieving £7000 PA.
We are advised by the current owner that the property is freehold, with the second floor property above owned on a leasehold basis.
As such, the freehold has a 3/4 liability for the main structure and 1/4 liability for the roof.
Services & Further Information:
Tenure: Freehold with second floor owned on a leasehold basis.
Services: Mains Water, Sewerage and Electric Heating.
EPC: Shop rating - C
Accommodation Rating - E
Council Tax: TBC
Broadband Speeds: Superfast Available with speeds up to 80Mbps (Openreach)
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Property reference S996052. The information displayed about this property comprises a property advertisement. OnTheMarket.com makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and OnTheMarket.com has no control over the content provided by the agent or developer. This property advertisement does not constitute property particulars. The information is provided and maintained by Kingsbridge Estate Agents - Kingsbridge.
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Broadband availability and predicted speed: obtained from Ofcom on December 21, 2021
Broadband speed is measured in megabits per second, with the number returned showing how fast the connection is. Each reading is based on the highest predicted speed of any major broadband network for services that deliver the download speeds. The following are the different readings that we may display:
Basic: Up to 30 Mbit/s
Super-fast: Between 30 Mbit/s and 300 Mbit/s
Ultra-fast: Over 300 Mbit/s
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Mobile phone signal availability and predicted strength: obtained from Ofcom on December 21, 2021
Mobile signal predictions are provided by the four UK mobile network operators: EE, O2, Three and Vodafone. Predictions can vary significantly from the coverage you may actually experience as a result of local factors (especially terrain). Ofcom has tested the actual coverage provided in various locations around the UK to help ensure that these predictions are reasonable. The values shown against a property can be broken down as follows:
Clear: No bars, no signal predicted
Red: One bar, reliable signal unlikely
Amber: Two bars, may experience problems with connectivity
Green: Three bars, likely to have good coverage and receive a data rate to support basic web services
Enhanced: Full bars, likely to have good coverage indoors and to receive an enhanced data rate to support multimedia services
Energy Performance data and Internal floor area
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