- Residential & Retail Investment Opportunity
- 28 apartments and shop fully let
- Opportunity for additional 10 apartments
- Producing £90,000 per annum with scope for growth
The property comprises a substantial and imposing listed building being a former chapel of ornate and attractive design constructed in stone under a slate covered roof.
Much of the property was extensively converted approximately 5 years ago to provide a retail unit at ground floor level and 28 bedsit apartments over ground and first floors.
To the second floor the accommodation has the potential to provide a further 10 bedsit apartments or may be suitable for alternative use (subject to planning).
The ground floor shop is currently let for a term expiring 1st December 2018 at a rent of £12,000per annum
The 28 apartments are currently let to a single tenant by way of a lease expiring 31st October 2019 at a rent of £78,000per annum.
Copies of leases are available upon request.
The property therefore generates a current rental of £90,000 per annum with scope for increases in this by converting the second floor space and/or asset management of the existing leases as they expire.