Investment Property with HMO in West Midlands For Sale

Occupying a corner position, excellent main road trading position, residential, office and commercial area, WEST MIDLANDS

Price £60,000

Features

Leasehold Investment Premises with Hmo

PREMISES in the region of 1,875 ft²

TOTAL RENTAL INCOME £67,600

The substantial RESTAURANT premises are currently let at a rental of £25,000 until 2023 when the lease expires. In addition there are 2 flats.

THE SELF CONTAINED ACCOMMODATION Flat with Gas Fired Central Heating, Double-glazed windows, at present let on a HMO LICENCE providing a rental income of £2,700 per month

6 en suite bedrooms each rented for £450 per week
Lounge.
Kitchen.

THE SELF CONTAINED ACCOMMODATION with Gas Fired Central Heating, Double-glazed windows, at present let on a shorthold tenancy providing a rental income of £850 per month

3 Bedrooms (2 double, 1 Single).
Lounge.
Kitchen.
Bathroom with bath, w.c. and wash hand basin.

Tenure

WE HAVE BEEN INFORMED BY THE VENDOR that the premises are held on a SECURE RENEWABLE lease from a private landlord, granted for 50 years in 2015 with reviews every 5 years (next review 2025) at a current rent of £31,600 p.a. plus VAT. As will be appreciated with the current rental income of £67,600, there is a profit rental of £36,000 p.a.

THE BUSINESS HAS BEEN IN THE SAME HANDS SINCE 1991AND IS SOLELY OFFERED FOR SALE DUE TO THE VENDORS OTHER BUSINESS INTERESTS.

Price

TO INCLUDE THE SECURE RENEWABLE LEASE £60,000 subject to contract.
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.

Finance

Subject to status, you maybe able to borrow up to £ 30,000 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote