Search more Investment Properties for sale in Spalding
Reference M4354

Investment Property in Spalding For Sale

Register to see map and to make an appointment Situated in a parade, country town, LINCOLNSHIRE/NORFOLK BORDERS SPALDING

Price 295,000

Features

Freehold Investment

Ground floor operated as kebabs & pizza takeaway & delivery with a first floor self contained flat comprising:

1 double bedroom
Bathroom with bath, w.c. & wash hand basin
Living room
Kitchen

The ground floor kebab shop with self contained flat is let on a new 25 years lease from April, 2015 & is providing a rental income of 12,000 p.a. exclusive of rates for the first 5 years with rent review at that time and thereafter every 5 years.

In addition on the first floor is a Studio Flat comprising:

Bedroom/living room plus kitchen area
Bathroom with bath, w.c. & wash hand basin

This flat is let on a shorthold tenancy & currently provides a rental income of 100 p.w.

Second Floor 2 Additional Studio Flats each comprising:

Bedroom/Sitting room with kitchen area
Bathroom with bath, w.c. & wash hand basin

Each of the 2 studio flats are let on shorthold tenancies each currently providing a rental income of 120 p.w.

As will be appreciated with the current rental income from the 3 studio flats & the kebab shop the total rental at the present time is 29,680 p.a.

Tenure

EPC Rating: F (126)

RECOMMENDED FOR EARLY INSPECTION

Price

ASKING PRICE FOR THE FREEHOLD INVESTMENT 295,000 subject to contract
SUBSTANTIAL MORTGAGE TO AN APPROVED APPLICANT

Finance

Subject to status, you maybe able to borrow up to 206,500 (long lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote

Search more Investment Properties for sale in Spalding

Buy an Investment Property in Spalding For Sale on NationwideBusinesses.co.uk