Belvoir Commercial have been instructed to sell another substantial residential & commercial mix property on the High Street here in Andover. The property is in the closing stages of the upper floors being converted into 4 residential flats.
The freehold sale of the property consists of as follows:
2 x 2 Bedroom Flats
2 x 1 Bedroom Flats
1085 sq ft Commercial Retail unit
The location of the property sits in what is considered the 'sweet spot' of the high street and is presently let to the premium greetings card retailer 'House of Cards' on a 15 year lease. The property shares its location with big brands such as hsbc, Lloyds, tsb, Santander, Boots, Dorothy Perkins, Costa & Burton etc.
The entrance to the flats on the first and second floor are accessed via a communal residential side access from the side of the building.
As previously mentioned, the flats are presently being finished so will be presented 'as new' when completed and are ideal for letting on a assured shorthold tenancy agreement which this office can assist with.
Rental Valuation:
Commercial: Presently paying £28,500k pa + vat
1 beds: £625pcm x 2
2 beds: £695pcm x 2
Total annual residential lettings income: £31680
Total Annual Income: £60180pa
Yield: Approx 6.69%
Added Value: 1 Years free lettings management of the property post purchase
If you would be interested in this property, please contact this office for more information
