Investment Let at £37,960 P.A. (6.90% on Guide Price) (ERV when fully let £42,640 P.A.)
The commercial unit (operating as a café) is let on a 5 year lease from October 2020 producing £12,480 p.a.
7 room HMO occupying the first and second floor is producing £25,480 p.a. One room currently vacant (ERV when full let £30,160 p.a.)
Development potential to add additional floor on the roof as well as add additional space/rooms at the rear of the property (subject to the requisite consents)
The upper floors would benefit from modernisation, which could potential increase the rental income.
Development potential for a seven storey residential/service apartments led scheme (subject to the requisite consents)
Plans have been drawn up for 39 serviced apartments and 1,474 sq ft of Commercial space (Use class E). Subject to the requisite consents.
A pre- application has been submitted to the local authority and the response can be viewed in the legal documents.
The site measures approximately 306 sq m
Pre- Application drawings can be viewed in the legal pack (However these are for illustrative purposes only and each party should rely on their own due diligence)