Property description

*360° walkthrough available* We are delighted to offer for sale this rarely available Town Centre, mixed commercial and residential investment opportunity. Comprising three commercial units and three self contained 1 and 2 bedroom flats. All three commercial units are all occupied and will be on new 10 year leases with an initial 1 year break clause and 3 yearly thereafter. The three self contained flats are also occupied on assured short hold tenancy agreements. The total annual income for the 6 units equates to some £33,000 (£2,750.00 per month) (a 7.17% return on investment at £460,000) (scope for a higher rental return on the flats, which are all let at very realistic rental figures) A fantastic investment opportunity - do not miss out!

Situation / Location

Rushden is the largest town within the East Northants District Council area with a population of around 30,000 and being a long established town has a traditional High Street for shopping with car parks around the town centre helping accessibility and ease of shopping.

The premises are located in Newton Road, opposite the Public Library, in a high profile retailing position, at one end of Rushden High Street.

Description

The property comprises three lock up shops of similar sizes with three self contained flats over. The building is brick built under pitched and slated roofs.

Tenancies

Tenancies – shops

The three shops are all currently let to local retailers; the rent for each unit is £500.00 per calendar month

tenancies – flats

Flat 15A is a 2 bed flat and occupied on an assured shorthold tenancy agreement at a monthly rent of £450 per calendar month (the tenant has been in residence since 2020).

Flat 17A is a 1 bed flat and occupied on an assured shorthold tenancy agreement at a monthly rent of £350 per calendar month (the tenant has been in residence since 1/2/2013).

Flat 19A is a 1 bed flat and is occupied on an assured shorthold tenancy agreement at monthly rent of £450 per calendar month (the tenant has been in residence since early 2021).

Additional Information

The premises potential annual income is £33,0000 per annum, equalling £2,750.00 per calendar month.

A 7.17% return on investment at £460,000.

Proposal

Offers are invited for the freehold of the property, subject to the occupational leases mentioned above at offers in the region of £460,000 (freehold).

15 Newton Road - Shop

Shop (4.74m x 4.09m (15'6" x 13'5"))

Maximum measurement.

Office / Shop (2.32m x 4.74m (7'7" x 15'6"))

Maximum measurement.

Rear Hall (1.06m x 1.92m (3'6" x 6'4"))

Inner Hall

Wc

15A Newton Road - Flat

Ground Floor

Kitchen (3.53m x 2.89m (11'7" x 9'6"))

Maximum measurement.

Inner Hall

First Floor

Landing

Lounge (3.49m x 3.91m (11'5" x 12'10"))

Bedroom 1 (4.06m x 2.60m (13'4" x 8'6"))

Minimum measurement, plus door recess.

Bedroom 2 (3.00m x 2.13m (9'10" x 7'0"))

Bathroom / Wc (3.49m x 2.86m (11'5" x 9'4"))

Maximum measurement.

17 Newton Road - Shop

Office / Shop (3.59m x 4.71m (11'9" x 15'5"))

Maximum measurement.

Office / Shop (2.42m x 4.71m (7'11" x 15'5"))

Minimum measurement, plus recess.

Inner Hall

Wc

17A Newton Road - Flat

Ground Floor

Breakfast Room / Utility Room (3.60m x 2.88m (11'10" x 9'5"))

Maximum measurement.

Inner Hall

First Floor

Landing

Living Room And Kitchen (4.06m x 5.27m (13'4" x 17'3"))

Maximum measurement including Kitchen Area.

Bedroom 1 (3.47m x 4.37m (11'5" x 14'4"))

Bathroom / Wc (3.47m x 2.88m (11'5" x 9'5"))

Maximum measurement.

19 Newton Road - Shop

Shop (5.43m x 4.75m (17'9" x 15'7"))

Maximum measurement.

Room 1 (3.09m x 1.96m (10'1" x 6'5"))

Maximum measurement.

Room 2 (1.90m x 1.67m (6'2" x 5'5"))

Kitchenette

Inner Hall

Wc

19A Newton Road - Flat

Ground Floor

Hall

Bathroom / Wc

Inner Hall

First Floor

Landing

Wc

Bedroom 2 (2.85m x 2.59m (9'4" x 8'5"))

Maximum measurement.

Bedroom 1 (3.50m x 4.30m (11'6" x 14'1"))

Living Room And Kitchen (4.04m x 5.21m (13'3" x 17'1"))

Maximum measurement including Kitchen Area.

Outside

To the rear of each of the properties there is a shared/communal yard/garden area. Side gates access to one end.

Agents Note

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We are required to obtain proof of identity and proof of address, as well as evidence of funds and source of deposit, on or before the date that a proposed purchaser’s offer is accepted by the vendor (seller).

Floorplans

Floor plans are for identification purposes only and not to scale. All measurements are approximate. Wall thickness, door and window sizes are approximate. Prospective purchasers are strongly advised to check all measurements prior to purchase.

Disclaimer

Mike Neville Estate Agents for themselves and the Vendors/Lessors of this property, give notice that (a) these particulars are produced in good faith as a general guide only and do not constitute or form part of a contract (b) no person in the employment of Mike Neville has authority to give or make any representation or warranty whatsoever in relation to the property. Any appliances mentioned have not been tested by ourselves.
Amenities

Town centre location

Three separate shops

Three Self Contained Flats

All Occupied - With Long Commercial Leases

Annual Income £33,000

Shared Communal Garden

Fantastic Investment Opportunity

Rarely Available

Viewing Advised

Valid EPC's For All Residential Flats (Commercial Units Exempt)