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The property comprises a high yielding, mixed-use, investment opportunity situated in an affluent and popular location.
Arranged as a ground floor retail unit with 2 x flats to the rear and upper parts, the property is fully let to three separate tenants.
The ground floor retail unit is let to a tenant trading as a massage parlour on a one year lease expiring 27/09/2024 and paying £5,520 per annum.
Flat 9A comprises a two bedroom, split-level, flat and is let to a private individual on an Assured Shorthold Tenancy (AST) expiring 05/06/2019 and paying £11,400 per annum.
Flat 9B comprises a one bedroom studio and is let to a private individual on an AST paying £10,800 per annum.
The total rent reserved is therefore £27,720 per annum. We consider that the property has evident asset management potential due to the fact the tenants are holding over on their current tenancies, with opportunities to increase both income certainty and improve rents.
The property forms part of a popular local retail parade and benefits from a prominent frontage to Station Road, which runs parallel to Church Street, the principal retail amenity in Ashford. The street also serves as the main pedestrian thoroughfare to the train station and therefore benefits from high footfall.
Tenure
Freehold
Tenancy
Please see the tenancy schedule and legal pack for more information.
Rent