Mill Street, Kidderminster, Worcestershire, DY11

SUBSTANTIAL MIXED USE INVESTMENT

POTENTIAL INCOME C £27,000 PA

FREEHOLD

NO VAT

CAR PARKING AT REAR

RETAIL UNIT + 1 & 4 BEDROOM FLATS

THE PROPERTY

The property is located in an established retail and residential area close to Kidderminster Town Centre.

ACCOMMODATION

The building comprises a brick built property over three floors with a self contained retail unit with front and rear access, a self contained single bed flat to the rear at ground floor and a 4 bed duplex flat on the first and second floors with self contained access from the rear. Private car parking is available at the rear of the building along with external amenity space.

Ground Floor Retail 617 sq ft (57.3 sq m)

Ground floor - one bedroom flat

First and second floors - 4 bedroom flat

RENTALS

Current rentals passing :

Shop £725 pcm

I bed flat £640 pcm

2 bed flat £750 pcm

Current Rental £25,380 pa gross

Potential Rental c £27,000 per annum

BUSINESS RATES & COUNCIL TAX

Current rateable value for the shop is £7,200 (April 2023) Both Flats are Council Tax Band A.

LEASES AND TENANCIES

The shop is Let on a new 6 year lease. The flats are let on standard AST’s

PRICE

Offers are sought in excess of £295,000 NO VAT

LEGALS

Each party to pay all own costs in respect of this transaction.

VAT

We understand VAT will not be charged on the sale of this property.

VIEWING

Please contact the Agents.

GENERAL TERMS

References The successful tenant / purchaser will need to provide either a satisfactory bank reference and / or two trade references for approval.

Money Laundering The successful tenant will be required to submit proof of identity, in accordance with money laundering regulations.

Fixtures & Fittings Any fixtures and fittings not expressly mentioned within these particulars are excluded from the transaction.

Areas & Dimensions All areas and dimensions are deemed to be approximate only.

© Walton and Hipkiss