Commercial property for sale in Monmouth Street, Lyme Regis, Dorset DT7

Rare freehold opportunity to acquire a charming property situated on Monmouth Street in the heart of Lyme Regis, offering a unique blend of commercial and residential capacity. The maisonette poses potential for renovation to cater for a variety of ventures, currently owner occupied.
The building stands prominently on an elevated position, with a stunning surrounding. The main construction is steel frame with one elevation consisting of Blue Lias.

With its prime location, versatile layout, and potential for diverse commercial projects, 14-15 Monmouth Street presents a lucrative opportunity for entrepreneurs in Lyme Regis. The property offers the perfect canvas for constructing your entrepreneurial dreams and tapping into the vibrant local market.

Premises:
14-15 Monmouth Street is a prominent building constructed in 1931. Main entrance to lobby which allows access to restaurant and passageway to maisonette. Restaurant consists of open plan dining area consisting of a potential 32 covers, large wood stain bar, with shelving and wall unit. Archway from restaurant leading to kitchen kitted with equipment (inventory to be provided on request). The kitchen is divided into two parts, offering a wash up/cutlery section and cooking area fitted with gas. Wooden rear back door in kitchen, which provides access to the entryway of the maisonette. Two separate toilets. External courtyard between the commercial and residential areas. Currently the commercial aspect is not in use, with vacant possession on the unit. Most recently under lease as of March 2024.

Investment:
The ground floor area has been occupied by various restauranteurs since 1971.
In the current market, the commercial space comprises a rental value in the region of £12,000 pa. Previously the commercial unit has been offered on a 5 year fpi lease and was occupied up until March 2024.

In the event that the maisonette were to be let on an Assured Shorthold Tenancy in the current market, a guide price of £1,000 pcm is given.

EPC:
Residential - D.
Commercial - C.