£550,000
(£233.35/sq. ft)
Retail premises for sale1 Frindsbury Road, Strood, Rochester, Kent ME2
2,357 sq. ft
EPC Rating: E
Just added
Freehold
About this property
Total income £30,400 per annum
Guide Price : £550,000.
EPC ratings: Shop C, flat E. Shop rateable value £21,250.
VAT applicable on the commercial element.
Flat let on a residential tenancy at £950 pcm.
A freehold mixed-use investment at 1 Frindsbury Road, Strood, Rochester, comprising a ground-floor shop with a self-contained two-bedroom flat above, both let and income-producing. The building, known as the Red Lion, occupies a corner position on Frindsbury Road and Cliffe Road within the Medway area.
The ground-floor shop (1A Frindsbury Road) extends to approximately 1,421 sq ft (132 sq m) according to its EPC, with a voa-recorded area of 1,274 sq ft. It is let on a 20-year lease from 1 December 2011, expiring 30 November 2031, at £19,550 per annum exclusive following the December 2025 rent review. The lease provides for upward-only rent reviews every two years, with the next review on 1 December 2027, and the tenant has indicated interest in extending the lease. The shop has a rateable value of £21,250 and an EPC rating of C.
The first-floor flat extends to approximately 936 sq ft (87 sq m) and is let on a residential tenancy at £950 pcm. It has an EPC rating of E.
Total income is £30,400 per annum. VAT is applicable on the commercial element.
The ground-floor shop (1A Frindsbury Road) extends to approximately 1,421 sq ft (132 sq m) according to its EPC, with a voa-recorded area of 1,274 sq ft. It is let on a 20-year lease from 1 December 2011, expiring 30 November 2031, at £19,550 per annum exclusive following the December 2025 rent review. The lease provides for upward-only rent reviews every two years, with the next review on 1 December 2027, and the tenant has indicated interest in extending the lease. The shop has a rateable value of £21,250 and an EPC rating of C.
The first-floor flat extends to approximately 936 sq ft (87 sq m) and is let on a residential tenancy at £950 pcm. It has an EPC rating of E.
Total income is £30,400 per annum. VAT is applicable on the commercial element.
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