Unbroken freehold comprising of ground floor retail with basement and two self contained studio flats to the upper floors.
However the tenant has, without any consents at all, altered the upper two floors to create 2 x self contained studio flats. It is further understood that the tenant lives in one of the studio flats themselves and lets out the other flat for the purposes of receiving rental income.
Therefore noting a breach of the lease, it might be possible for the lease to be terminated prior to its current end date of 27/3/23 or alternatively, require the tenant to pay a higher rent. All interested parties should seek independent legal advice prior to making a commitment to purchase.
It is the considered opinion of the Auctioneer that if let on the open market via an Assured Shorthold Tenancy Agreement, the rental income of each studio could be in the region of £600 per month, thereby potentially producing an additional rental income £14,400 per annum.
Ground Floor (Retail)
Lower Ground Floor (as part of retail)
Top Floor Studio
4.45m x 4.1m (14’7″ x 13’5″)
First Floor Studio
We believe the First Floor Studio to be of a similar dimension to the Top Floor Studio.