INVESTMENT PROPERTY, NEW ROMNEY

Guide Price £350,000

On Market

Reference: CO715


LOCATION

This property is located in the centre of the Cinque Ports town of New Romney within a bustling retail High Street, including Sainsbury’s, Costa Coffee, Lloyds Pharmacy as well as a large selection of local retail shopping.

DESCRIPTION

This property is a detached brick-built property under tiled roof. The ground floor of the property is currently let as a retail office to an estate agency business and the first floor offers independent access to a 2-bedroom flat approximately 729 ft² (67.72 m²). The flat comprises of 1 reception room, kitchen, two bedrooms and a family bathroom.

To the rear of the property there is a rear yard and a derelict brick under flat roofed building and a vehicular garage to the rear. This building was formally a tea rooms which has out of date planning permission for conversion to a two storey property. Planning application number Y12/1074/SH from Shepway District Council. Plans are available from the local authority website www.shepway.gov.uk and show a ground floor shop unit of approximately 350 ft² with ancillary storeroom, kitchen, and toilets with self-contained 2 bed living accommodation over.

The ground floor office of approximately 641 ft² (60.14 m²) has display windows to the high street and to Church Lane with a single storey extension to the rear. There is side door access to the courtyard.

This property is an excellent investment opportunity.

Lease Information-

The ground floor is let on a 6 year lease commencing 18th February 2019 at £9,500 per annum with a rent review on the 18th February 2022.

The first floor flat is an Assured Shorthold Tenancy which is on a Statutory Periodic Tenancy at a rental of £625 per calendar month.

The rear areas of the premises are unoccupied and awaiting refurbishment/redevelopment.

Services: All main services are connected.

EPC: 

55: D (80) 

55A: D (64)

Viewings: All viewings are to be accompanied by Angela Hirst Chartered Surveyors, Sole Agents. 

PLEASE NOTE: All plans are taken from past out of date planning application.

  • Investment Property- Residential, Commercial and Redevelopment opportunity
  • Ground Floor Retail Shop 647 ft² (60.14 m²) with WC and Kitchen
  • Prominent High Street Location
  • 2 bedroom first floor flat with private access
  • Detached Property
  • Rear Courtyard
  • Redevelopment opportunity to the rear with past planning permission
  • All Mains Services Connected
  • Passing Annual Income £17,300.00