Lot 10: FREEHOLD MIXED INVESTMENT OPPORTUNITY PROVIDING IMMEDIATE INCOME AND PLANNING FOR ADDITIONAL FLATS AND A DETACHED HOUSE

This three storey freehold town centre building offers great scope as a mixed investment opportunity. The ground floor commercial space, which has recently been refurbished, is let along with a studio flat to the rear, providing combined immediate income of £14,000 per annum.

The upper parts have the benefit of planning consent for a two-bedroom flat on the first floor and a one-bedroom flat on the second floor. These works have commenced and require completion.

To the rear is a brick built store which has consent for replacement with a new two-bedroom detached house.

Existing Accommodation

Commercial

Ground Floor

Shop trading as a hair and beauty salon, small staff kitchenette and cloakroom with W.C.

Tenancy

Let under the terms of a 10 year commercial lease at an initial rental of £8,400 per annum.

Residential

Ground Floor

Living room/bedroom/kitchen and shower room with W.C.

Tenancy

Let under the terms of an Assured Shorthold Tenancy at a rent of £466 per calendar month.

Proposed Accommodation

First Floor

Entrance hall, living room, kitchen, two bedrooms and bathroom with W.C.

Second Floor

Entrance hall, living room, kitchen, bedroom and bathroom with W.C.

Proposed House Accommodation

Ground Floor

Entrance hall, cloakroom with W.C. and living room/kitchen.

First Floor

Two bedrooms and bathroom with W.C.

Outside

Courtyard garden.

Planning

Planning Permission has been granted by Gosport Borough Council, under ref: 17/00481/FULL, dated 30th November 2017, for alterations and extension to and conversion of existing ground floor shop (Class A1) with three bedroom maisonette over to form reduced size shop with one two-bedroom flat and one one-bedroom flat over and construction of detached two bedroom dwelling to rear (conservation area), subject to conditions. A copy of the planning consent and proposed plans will be available to download from the Clive Emson website.

Freehold with Part Vacant Possession

Commercial EPC: B

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