£290,000
(£149.64/sq. ft)
Retail premises for saleMountfields, Cross In Hand, Heathfield TN21
1,938 sq. ft
Just added
Freehold
About this property
Rare Freehold Interest opportunity
Mixed use (retail with residential) building
Of interest to investors or owner occupiers
Double fronted corner retail presence
Spacious self-contained maisonette
Current income of £25,400 pa
Description
The property comprises a three-storey end of terrace building arranged as a ground floor double fronted retail shop with ancillary space and a self-contained maisonette over the first and second floors. The ground floor retail unit is predominantly open plan and currently operates as a women's dress shop. The residential accommodation is well proportioned and includes two bedrooms, kitchen, dining room, lounge, bathroom and additional second floor storage.
Externally the property benefits from a private rear garden and parking which are
demised to the residential accommodation.
The Freehold Interest is being offered, subject to a commercial lease and a periodic tenancy. The commercial lease is granted to Any Occasion Boutique Ltd on a 5 year Fri lease from 6 December 2021 with a passing rent of £12,500 per annum exclusive. The residential tenancy agreement has expired and therefore deemed a periodic tenancy with a passing rent of £1,075 pcm (£12,900 pa). Copies of the legal documents are available upon request.
The quoting price of £290,000 is considered low and represents a gross initial yield of 8.75% and is also considered to be reversionary. This could also be considered for an owner occupier; more information upon application.
Location
The property is situated within the High Street retail area of Cross-In-Hand, serving the surrounding residential population and nearby villages. The location provides a range of local shops, services and amenities and benefits from regular passing traffic.
Residential
EPC Rating - D
Council Tax - A
Aml
In line with the relevant legislation, Anti-Money Laundering checks will need to be carried out on all relevant parties. We charge £30 +VAT for this service.
The property comprises a three-storey end of terrace building arranged as a ground floor double fronted retail shop with ancillary space and a self-contained maisonette over the first and second floors. The ground floor retail unit is predominantly open plan and currently operates as a women's dress shop. The residential accommodation is well proportioned and includes two bedrooms, kitchen, dining room, lounge, bathroom and additional second floor storage.
Externally the property benefits from a private rear garden and parking which are
demised to the residential accommodation.
The Freehold Interest is being offered, subject to a commercial lease and a periodic tenancy. The commercial lease is granted to Any Occasion Boutique Ltd on a 5 year Fri lease from 6 December 2021 with a passing rent of £12,500 per annum exclusive. The residential tenancy agreement has expired and therefore deemed a periodic tenancy with a passing rent of £1,075 pcm (£12,900 pa). Copies of the legal documents are available upon request.
The quoting price of £290,000 is considered low and represents a gross initial yield of 8.75% and is also considered to be reversionary. This could also be considered for an owner occupier; more information upon application.
Location
The property is situated within the High Street retail area of Cross-In-Hand, serving the surrounding residential population and nearby villages. The location provides a range of local shops, services and amenities and benefits from regular passing traffic.
Residential
EPC Rating - D
Council Tax - A
Aml
In line with the relevant legislation, Anti-Money Laundering checks will need to be carried out on all relevant parties. We charge £30 +VAT for this service.
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£1,450 per month
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