An excellent opportunity to buy an income producing mixed use investment comprising four flats, a detached cottage and two shops, all on one site, in an attractive setting in the conservation area of Calne in Wiltshire. Ref: CML
A rare opportunity to buy an income producing mixed use investment comprising four flats, a detached cottage and two shops, all on one site, in an attractive setting in the conservation area of Calne in Wiltshire.
- Two shops
- Four flats
- A detached three bed cottage
- Mixed Use Investment
- Producing a total rent of £44,700pa approx. when fully let
CURRENT RENTAL INCOME
Flat one (two bed): £525 pcm
Flat two (two bed): £500 pcm
Flat three (two bed): £500 pcm
Flat four (two bed): £500 pcm
Cottage (three bed): £650 pcm
Wong's Chinese take away: £700 pcm
Stationery shop ("Avante Garde"): £350 pcm
Total income stream: £3,725 pcm (£44,700 annualised)
LOCATION The property is located in the within the Heritage Quarter, on a quiet one-way street opposite the West gate to St Mary's Church. The property backs onto the Church Street car park for which vehicular access is directly off the A4 and pedestrian access onto Church Street. Church Street enjoys a wide variety of uses including a number of independent retailers, a supermarket, an estate agents, as well as residential properties.
Calne is an expanding town, situated on the A4 between Chippenham (5 miles due West) and Marlborough (8 miles due East). Devizes lies 6 miles to the South. The M4 lies about six miles to the North and is accessed at Junction 17 (Chippenham) or Junction 16 (West Swindon). The population of the town is 23,196 people (2011 Census).
DESCRIPTION The listed grade II property dates from the early nineteenth century and the main building is constructed over three storeys.A stationery shop and a Chinese takeaway occupy most of the ground floor space with the flats being above and behind. To the rear of the property is the former dairy which the current owners have renovated and extended to form a modern three bed cottage with an attractive courtyard and garden. Pedestrian access to the cottage is via a gated and arched carriage way in the Church Street frontage.
TENANCIES The residential accommodation is all currently let on six monthly Assured Shorthold Tenancies. The Chinese takeaway is let to Lijian Chi on an effectively full repairing lease which commenced 5th September 2017 for term of 20 years with no break options, five yearly up only reviews and inside the renewal provisions of the 1954 Landlord and Tenant Act. The stationery shop is let to two individuals on a Tenancy at Will, which can be brought to an end by either party with one month's notice. Copies of the leases are available from the agents.
PERMITTED USE We understand that the current permitted legal use falls into Use Classes A1, A5 and C3 as defined in the Town and Country Planning (Use Classes) Order 1987.
QUOTING PRICE Offers for the freehold are invited in the region of £800,000.
We understand that VAT is not currently applicable. We recommend that the prospective tenants establish all VAT implications prior
to entering into any agreement.
Each party is to bear its own legal costs in the transaction.
Mains water, drainage and electricity are connected. None of the services or fittings within the building has been tested by the agent.
Since January 2013, listed buildings have been exempt from the need to produce an EPC for marketing purposes.
A copy of the asbestos survey will be available from the agent.
VIEWING ARRANGEMENTS Available strictly through the sole agents, Jones Robinson incorporating Martin Walker by contacting Jonathan Shortt on 01380 721101 (DD) or 07878 397301 (Mobile) or email: email@example.com