This mixed-use property offers a compelling opportunity for renovation and investment, featuring a well-structured layout that includes six self-contained residential flats—comprised of both one-bedroom and two-bedroom units—as well as a ground-floor commercial unit currently leased at £1,200 per month. With a total of nine bedrooms across the residential flats, this diverse accommodation is situated in a prominent location just off the high street, enhancing its appeal for tenants.
The property provides off-street parking for 3–4 vehicles, an advantageous feature in this bustling area. Additionally, there are three garages on the premises that come with approved planning permission for conversion into office spaces. This development potential could significantly boost rental income, further solidifying the property’s value.
Currently, the property generates an annual gross income of £78,000 from existing rentals. However, following the planned renovations and possible conversions, projections indicate that the gross income could rise to approximately £99,600 per year. The breakdown of current rental income illustrates strong tenant demand:
- Flat A – £900
- Flat B – £950
- Flat C – £850
- Flat D – £900
- Flat E – £850
- Flat F – £850
- Shop – £1,200
Totaling £6,500 monthly or £78,000 annually reflects solid cash flow at present.
Located within a vibrant community close to shops, schools, and transport links, this property is ideal for investors looking to expand their portfolios or enter the buy-to-let market. The area shows strong demand for rental properties and offers excellent prospects for capital growth.
In summary, this detached mixed-use property not only provides immediate rental returns but also presents substantial future potential through planned developments. It is a unique opportunity to acquire an income-generating asset with possibilities for enhanced yield through thoughtful renovations and conversions.
