Office for sale

The premises comprise a ground floor lock-up retail unit with residential accommodation above. The ground floor accommodation is fitted out as a nail salon and is predominantly open plan, with a WC, kitchen area, and a fire exit to the rear.
The Freehold Interest is being offered, subject to a commercial lease and a long-leasehold interest of the residential. The commercial lease is granted to a private individual trading as JP Nails on a 12 year FRI lease from 1 November 2021 with a passing rent of £9,600 per annum exclusive. The next upward only market rent review is 1st September 2029 and the rent is considered reversionary based on recent transactions. The long-lease is for a term of 999 year lease with no ground rent payable. Copies of the legal documents are available upon request.
The quoting price of £135,000 is considered low and represents a gross initial yield of 7.11%, with a reversionary yield of 10%.