Retail Unit With Residential Investment

Key Features

• Attractive three storey building
• Close to town centre car parks
• Vacant retail unit arranged on ground floor
• Three bedroom self-contained flat located on the first and second floors
• One bedroom self-contained ground and first floor flat located at the back of the building

Description

The property comprises a mid-terraced mixed use property which is arranged over the ground, first and second floor levels. The commercial element on the ground floor is a single shop unit and there is residential accommodation to the rear on the ground floor aswell as on the first and second floors. The ground floor shop comprises three rooms, a WC and kitchenette.

The residential accommodation to the rear of the property is accessed via a gated pathway and is a self-contained one bedroom flat arranged over two floors with a lounge, kitchen and bathroom.

To the side of the shop is a staircase which leads to the first and second floor residential accommodation. Located on the first and second floor is a three bedroom flat with a large living room, bathroom and kitchen.

Available area

The accommodation comprises the following areas:

Location

The property is located on St Michaels Road which is off Commercial Road in close proximity to The Triangle, in the centre of Bournemouth. The Triangle which is a popular and thriving area located to the west of Bournemouth Town Centre. The area is characterised by its mix of local independent retailers, restaurants, cafes, bars and financial/professional service providers.

The property enjoys the benefit of frontage to St Michaels Road. Parking is available on street and in the West Hill Road surface level car park opposite providing pay and display car-parking. Nearby occupiers include The Brewhouse and Kitchen, Kane Hairdressing, Betfred, Ladbrokes, Smoking Aces and Regus Offices.

Tenure

The property is for sale freehold subject to existing leases of the residential accommodation:

Flat 1 - Ground floor and First Floor (to back of property) initially fixed term AST, now periodic - £990 per calendar month

Flat 2 - First and Second Floors – initially fixed term AST, now periodic
- £1,210 per calendar month

Total - £2,200 per calendar month (£26,400 per annum exclusive)

Price

Offers are invited in the region of £400,000 exclusive.

Business Rates

We understand the property has the following rateable value:
Ground floor retail - £4,900

The Rates Payable will be determined by the Uniform Business Rate Multiplier which is set by the Government annually. Interested parties are therefore encouraged to contact the Local Rating Authority directly.

Legal Costs

Each party to bear their own legal costs incurred in the transaction.