Within a short walk of the town square by the Museum and close to all High Street shops and Rock Park, this property is ideally placed for access to all amenities. Litchdon Street is a historic street which has old alms houses and many character buildings and this property is directly opposite the rear of the Imperial Hotel.
THE PROPERTY
Two Grade II Listed commercial mid-terraced premises arranged as two shops, a central store room and two residential letting units behind and over the main shops. There is a central communal yard and to the rear is a small end terraced cottage.
The potential rental income is as follows:
8 Litchdon Street - £560 pcm (commercial, currently vacant)
9 Litchdon Street - £850 pcm (residential, tenanted)
9a Litchdon Street - £900 pcm (residential, tenanted)
10 Litchdon Street - £210 pcm (commercial, tenanted)
10a Litchdon Street – 800 pcm (residential, tenanted)
Store Room - £100 pcm (commercial, used by the owners)
Potential annual gross income of £41,040 when fully let.
The owners of the property are actively looking to have the whole property occupied.
BUSINESS RATES
£3,500 (Shop at 8 Litchdon St) £2,425 (Shop at 10 Litchdon St) UBR, as of April 2023, 47.9p in the £. Our Rateable Value figure has been obtained from the Business Valuation website at the time of the property detail going to print, however, we would advise all applicants make their own enquiries via the Valuation Office or website regarding this figure. Small Business Rate relief (100%) may apply as the Rateable Value is below £12,000.
VAT
We understand that our client has not opted to charge VAT. All interested parties should make their own enquiries of HMRC.
LEGAL ADVICE
We strongly recommend that a buyer takes independent legal advice and instructs solicitors to act on their behalf. Each party bears their own legal costs unless otherwise stated.
PLANNING
It is the responsibility of the proposed buyer to satisfy for themselves independently that their intended use complies with existing planning permission by contacting the local council planning department. The cost of any change of planning use is the buyers responsibility.
