Investment Property in Spalding For Sale

Situated in a parade, country town, LINCOLNSHIRE/NORFOLK BORDERS SPALDING

Price 295,000

Features

Freehold Investment

Ground floor operated as kebabs & pizza takeaway & delivery with a first floor self contained flat comprising:

1 double bedroom
Bathroom with bath, w.c. & wash hand basin
Living room
Kitchen

The ground floor kebab shop with self contained flat is let on a new 25 years lease from April, 2015 & is providing a rental income of £12,000 p.a. exclusive of rates for the first 5 years with rent review at that time and thereafter every 5 years.

In addition on the first floor is a Studio Flat comprising:

Bedroom/living room plus kitchen area
Bathroom with bath, w.c. & wash hand basin

This flat is let on a shorthold tenancy & currently provides a rental income of £100 p.w.

Second Floor 2 Additional Studio Flats each comprising:

Bedroom/Sitting room with kitchen area
Bathroom with bath, w.c. & wash hand basin

Each of the 2 studio flats are let on shorthold tenancies each currently providing a rental income of £120 p.w.

As will be appreciated with the current rental income from the 3 studio flats & the kebab shop the total rental at the present time is £29,680 p.a.

Tenure

EPC Rating: F (126)

RECOMMENDED FOR EARLY INSPECTION

Price

ASKING PRICE FOR THE FREEHOLD INVESTMENT £295,000 subject to contract
SUBSTANTIAL MORTGAGE TO AN APPROVED APPLICANT

Finance

Subject to status, you maybe able to borrow up to £ 206,500 (long lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote