Map2 bedroom flat for sale
Key information
Features and description
- 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
The Location:
The sought after market town of Kingsbridge is located at the head of the estuary in the beautiful South Hams, an 'Area of Outstanding Natural Beauty'. There is a fantastic range of local and independent shops, restaurants, pubs, two supermarkets, a cinema, a leisure centre with swimming pool, medical centre and community hospital.
The Property:
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)
Property information from this agent
About this agent
