Property Brief
Mixed-use investment opportunity consisting of a ground-floor commercial unit being operated as a takeaway and a first-floor, one-bed apartment. Both units are on individual freehold titles.

The tenant of the apartment has been served a section 8 & 21. Notice has been served due to non-compliance with regard to accessing the property - they have no issues with rental payments.

The vendor is open to selling the property for £85,000 with the apartment's tenant in situ or £90,000 or order to continue with the eviction.

Property sizes:
Commercial - 63sqm
Residential - 53 sqm

Condition Report
The property as a whole appears to be in good condition with no major visible defects. The takeaway is in a reasonable condition. At the time of taking pictures, the property was also in a reasonable condition. The rear yard is untidy.

Rental Information
Commercial
Current rent: £400 pcm  
Market rent: £400 pcm
Tenancy agreement: Business property lease (5-year lease starting on July 2021)

Residential
Current rent: £480 pcm  
Market rent: £480 pcm
Tenancy agreement: Assured shorthold tenancy (starting in January 2017)

Compliance
Electrical Test Date EICR 27-04-2021
Gas Certificate Test Date 08-08-2024
EPC Grade E (51) potential C (72)

Figures
Estimated upfront costs below:

Deposit = £21,250
Stamp duty = £4,250
Broker fee (Est.) = £495
Solicitor fee (Est.) = £1,200
Ultralets fee = £1,800

Total = £28,995

Current yield is 12.4%.

Buyer Disclaimer - https://bit.ly/3CzncNu

To speak to our in-house Mortgage Advisor, call the office on 01482 562562 and ask to speak to Jack Newton.