A prominent detached building comprising two 2 bedroom flats above a commercial unit with four parking spaces to the rear. Fully let with an income of £40,060 per annum exclusive showing a gross initial yield of 7.1%.
The property is of traditional construction with brick elevations relieved by uPVC double glazed windows under a pitched tile covered roof.
First Floor & Second Floor Self-Contained Flats with Independent Entrance Each Comprising Two Bedrooms, Living Room, Kitchen, Bathroom.
Location
The premises are located in the village of Hindhead which is best known as the location of the Devil’s Punch Bowl, a beauty spot and site of special scientific interest. The village has direct access to the A3, which runs between Portsmouth and London and links with the national motorway network. Haslemere Station is the closest mainline station, less than 3 miles, which is on the Portsmouth to London Waterloo line.
Accommodation
Ground Floor Office/Retail - 84.10 sq m (905 sq ft)
Terms
TENURE: Freehold, subject to the current tenancies.
The Ground floor is let to EDX Education UK Ltd by way of a Lease dated 6 June 2023 for a Term of five years, subject to a Tenant Option to Break at the end of three years, at the Rent of £11,500 per annum exclusive. The Lease is on effective Full Repairing and Insuring Terms, subject to a Schedule of Condition. It is granted outside the security of tenure and compensation provisions of the Landlord and Tenant Act.
The First Floor Flat is let by way of an Assured shorthold Tenancy at the current Rent of £13,200 per annum.
The Second Floor Flat is let by way of an Assured shorthold Tenancy at the current Rent of £15,360 per annum.
PRICE: Offers in the region of £565,000 Freehold.
The property is not elected for VAT
RATES:
Ground Floor Rateable Value £7,400 payable at 49.9p in the £ (2023/2024)
Flat A Council Tax – B
Flat B Council Tax – B
EPC:
Ground Floor: E111
Flat A: D 67
Flat B: C 69
Specification
- Prominent Location
- Mixed Use Investment
- On Site Parking to the Rear for Four Cars