Property Description:
Location: High Street and New Street
This attractive mixed-use property is ideally situated on High Street, combining commercial and residential spaces within a single building.
Commercial Space:
The ground floor comprises a spacious, open-plan area currently utilised as a barbershop. This versatile space is suitable for various retail or service businesses, benefiting from ample natural light and excellent accessibility. At the rear, the property features convenient storage rooms and a well-appointed WC, ensuring functionality for both staff and customers. Importantly, plans are in place to install a new staircase within the commercial unit, enhancing access to the upper residential apartment.
Residential Accommodation:
The first and second floors contain a self-contained apartment, presently accessed via the rear of the building. Following the planned renovations, access to the rear will be removed, and a new staircase will provide internal access from the commercial unit. The apartment is set to be converted into a 4-way House in Multiple Occupation (HMO), with a projected income of £500 per room, plus bills. The accommodation will include:
A well-equipped kitchen
An inner hallway providing access to various rooms
A versatile study/store room, ideal for use as a home office
A comfortable living area offering a welcoming atmosphere
The first/second floor will feature four bedrooms, with a family bathroom designed for convenience.
This property presents an excellent opportunity for investors or business owners seeking a prime location with residential accommodations. It embodies a perfect blend of commercial viability and residential comfort in one desirable setting, with strong rental income potential following the HMO conversion.
Current Income:
Commercial lease – £6,000 on a six year lease ending in 2028
Residential – Potential £24,000 per year
Rental Yield Potential – 10.91%
FREEHOLD