Kingswood is delighted to bring to the market this spacious retail and residential investment opportunity.
Fully-let to tenants on long leases, this freehold property is in a superb location and offers a real hands-off investment which is income producing from day one.
Ideally situated on the outskirts of Preston City Centre, this property benefits from ample on-street parking as well as being within walking distance of UCLAN and public transport links.
The immediate area surrounding the property is made up of terraced residential housing and other local businesses.
The property comprises of a traditional end-terrace unit converted to offer ground floor retail and first floor residential accommodation.
The ground floor retail shop comprises itself of a unit converted to a gentleman's hairdressing salon to the front, with associated rooms to the rear including two receptions, a kitchen and bathroom.
The first floor residential flat is accessed via the side street with stairs over the shop. The flat comprises of two bedrooms, a spacious reception room, kitchen and bathroom - all decorated to a good standard.
The Rateable Value (RV) of the property is £1,085 (according www.voa.gov.uk). The uniform rate is 46.2p in the pound.
Enquiries should be made of Preston City Council to confirm the above.
The unit should qualify for Small Business Rate Relief although enquiries should be made of Preston City Council to confirm.
Ground Floor - Let to an individual paying £365 per month with approximately 12 months remaining.
First Floor - Let to a family paying £300 per month with approximately 6 months remaining.
The total income is £665 per month.
Ground Floor - Retail Zone A - 25.7 sq.m
Ground Floor - Retail Zone B - 20.3 sq.m
Ground Floor - Kitchen - 3.5 sq.m
Basement - Internal Storage - 18.7 sq.m
All mains services are assumed to be connected to the property.
EPC / Recommendation Report
An EPC/RR is available from your local Kingswood office.
Viewing is highly recommended and strictly via Kingswood only.
Please contact Kingswood on:
Preston City Centre Office - Unit 8, Fishergate, Preston, PR1 2NJ - 01772 886 555
Fulwood Head Office - 77 Watling Street Road, Preston, PR2 8EA - 01772 71 71 81
Under the Property Misdescription Act 1991 we endeavour to make our sales details accurate and reliable but they should not be relied upon as statements or representations of fact and they do not constitute any part of an offer of contract. The seller does not make any representations to give any warranty in relation to the property and we have no authority to do so on behalf of the seller. Services, fittings and equipment referred to in the sales details have not been tested (unless otherwise stated) and no warranty can be given as to their condition. We strongly recommend that all the information which we provide about the property is verified by yourself or your advisers. Under the Estate Agency Act 1991 you will be required to give us financial information in order to verify you financial position before we can recommend any offer to the vendor.