This freehold mixed-use property presents a noteworthy investment opportunity in the heart of Minehead. Comprising a fully refurbished restaurant and five flats that offer significant renovation potential, this development stands out for its capacity to generate income while allowing for value enhancement through improvements.
The restaurant, already modernized, features two distinct indoor seating areas, a servery/bar, customer restrooms, and two commercial kitchen spaces. Additionally, it boasts a walled garden perfect for outdoor dining. A long-term tenant is in place, ensuring immediate rental income from this established business.
On the residential side, the building includes five flats across three floors. The first floor houses a 2-bedroom flat and a studio flat, while the second floor contains two 1-bedroom flats. The third floor features a more spacious 3-bedroom flat. While these units require renovation to maximize their market appeal and rental income potential, they present an excellent opportunity for investors to enhance value in a sought-after location.
The property benefits from substantial roof renovations completed over the past decade, with the final phase scheduled for completion by June 2024. This ongoing maintenance enhances the long-term viability of the investment.
Located centrally, this property enjoys convenient access to local amenities and transport links, further adding to its attractiveness as an investment. With both immediate income from the restaurant and considerable room for improvement in the residential units, this asset offers diverse avenues for return on investment. For comprehensive details regarding this opportunity, please reach out to our agents.
