Opis:

The premises comprise a pair of extended middle and end of terrace properties built of painted rendered elevations under a pitched tiled covered roof comprising a double lock up shop on the ground floor with eight residential flats on the two upper floors of the front building and in a two storey extension to the rear.

The retail unit is let on a lease for a term of three years from 1 November 2013 to Messrs Abdul and Najeeb. Under the lease the initial rent is £10,500 per annum exclusive, which rises to £11,500 in year 2 and £12,500 in year 3. Rent is paid on a monthly basis. A rent deposit of £1,500 is held. The lease is constructed on an internal repairing and shop front repairing lease. Whilst there is no service charge provision, the tenant contributes a proportionate share of insurance premiums. The lease contains a tenant's break option at 30 April 2015, which is operable by the tenant on giving the landlord a minimum of six months' prior written notice.

Our client has granted a 999 year lease for an advertising hoarding on the south-east gable wall of the premises, under which a peppercorn rent is reserved.

Each of the eight residential units have been sold on a lease for 125 years expiring 31 December 2135. Under each lease a ground rent of £100 per year is payable, together with a proportionate share of insurance premiums and service charge.

Residential, Retail, Other Property Types & Opportunities