Studio Flat For Sale £550,000
A commercial investment opportunity with ground floor commercial unit (750ft2) including, additional storage/workshop to the rear and two well presented first and second floor one-bedroom flats.
Description
An opportunity to purchase a mixed-use investment property within the heart of Monmouth high street.The property is marketed subject to existing leases on the residential aspects to the upper floors while the commercial space is currently vacant.
Situation
The property is well positioned within the heart of the historic town of Monmouth with frontage onto the main thoroughfare of Monnow Street. Monmouth is an expanding town of over 10,000 population but serving a much larger area and benefits from excellent transport links to both the Midlands, South Wales and West County. The town also benefits from an excellent choice of well-known schools both in the state and independent sector, as well as a good balance of local and national retailers situated in the main street including, Waitrose, Marks and Spencer Simply Food and White Stuff etc.
Accommodation
The ground floor commercial area extends to approximately 510 sq ft comprising open plan space with a large window space directly onto the main High Street of Monmouth town. To the rear of the ground floor is additional space with kitchenette and storage. The property has been kept to a high standard and provides light accommodation throughout. Within the ground floor accommodation, rustic floorboards, old beams and exposed brickwork can be seen within the commercial space. To the rear of the property is a private courtyard with a further self-contained building. The building currently provides toilet facilities and storage for the commercial space however may provide additional accommodation subject to the granting of the necessary planning permission.There are two residential flats to the property and accommodation is listed briefly below.First Floor (72a)A well presented one bedroom first floor flat providing open plan kitchen and living area, sitting room, double bedroom and shower room.Top Floor Flat (72b)A spacious one bedroom second floor flat providing open plan kitchen/diner, sitting room, double bedroom and shower room.
Rental Income
The ground floor commercial is currently vacant however is marketed at £1500 pcm with discussions ongoing with interested parties.Combined rent passing on the two flats is currently £1450pcm.
Business Rates & Council Tax
GF - Rateable Value from April 2023 - £12,50072a - council tax Band B72b - council tax Band C
Planning
The ground floor unit benefits from A2 use with potential for permitted change to A1 Retail use.
Tenure
Freehold subject to existing leases.
Services
We understand that the property benefits from mains water, drainage and electric.
Viewing
Strictly by appointment with David James [use Contact Agent Button]
Local Authority
Monmouthshire County Council -[use Contact Agent Button]
Tenure: Freehold
