Block of flats for sale in Newerne Street, Lydney GL15

** commercial/residential investment building ** toombs & toombs properties are pleased to offer for sale this three storey semi detached property comprising two leasehold ground floor retail units & four one bedroom flats (all with ast's) with A potential for A rooftop apartment subject to planning consent and potential for further improvement of the building to increase the rent roll. Circa 5.5% gross return

Description

Three storey Semi Detached comprising Two leasehold retail units and Four One Bedroom Flats (all with ast's). Further potential for a rooftop apartment subject to planning consent and potential for further improvement of the building to increase the rent roll (current gross return in the region of 8.5%)

Schedule Of Floor Area

All measurements are approximate:

Retail 1 – 31m2/333sft
Retail 2 - 50m2/538sft
1st Floor – 2 Flats - 71m2/764sft
2nd Floor – 2 Flats - 71m2/764sft

Total Net Internal - 223m2/2400sft
Gross External Floor Area - 253m2/2722sft

Shop Unit One

Reception Area (33' 5'' x 13' 8'' (10.18m x 4.16m))

Glazed door and window to front, storage area, door to rear hallway with window and door to side, doors to Kitchen and Cloakroom with WC and wash hand basin.

Kitchen (12' 5'' x 7' 5'' (3.78m x 2.26m))

Built-in cupboards, sink unit.

Shop Unit Two

Retail Area (33' 5'' x 12' 3'' (10.18m x 3.73m))

Window and door to front, window to side, door to rear, access to Cloakroom with WC and wash hand basin.

Flat One

Entrance Hall

Fitted cupboard.

Lounge (15' 3'' x 8' 10'' (4.64m x 2.69m))

Windows to front and rear, open plan to

Kitchen (7' 7'' x 7' 1'' (2.31m x 2.16m))

Window to front, sink unit, cooker point.

Bedroom (11' 3'' x 9' 0'' (3.43m x 2.74m))

Window to front.

Bathroom

Three piece suite, window to side.

Flat Two

Entrance Hall

Built-in cupboard.

Lounge (14' 11'' x 13' 1'' (4.54m x 3.98m))

Windows to front and rear, open plan to

Kitchen (9' 7'' x 6' 7'' (2.92m x 2.01m))

Windows to side and rear, sink unit.

Bedroom (11' 1'' x 9' 0'' (3.38m x 2.74m))

Window to rear.

Bathroom

Three piece suite, window to side.

Flat Three

Entrance Hall

Built-in cupboard.

Lounge (14' 11'' x 13' 1'' (4.54m x 3.98m))

Windows to front and rear, open plan to

Kitchen (9' 7'' x 6' 6'' (2.92m x 1.98m))

Windows to side and rear, sink unit.

Bedroom (11' 1'' x 9' 0'' (3.38m x 2.74m))

Window to rear.

Bathroom

Three piece suite, window to side.

Flat Four

Entrance Hall

Built-in cupboard.

Lounge (15' 3'' x 8' 10'' (4.64m x 2.69m))

Windows to front and rear, open plan to

Kitchen (7' 7'' x 7' 1'' (2.31m x 2.16m))

Window to front, sink unit, cooker point.

Bedroom (11' 3'' x 9' 0'' (3.43m x 2.74m))

Window to front.

Bathroom

Three piece suite, window to side.

Services

Mains are understood to be available. All interested parties will make their own enquiries.

Tenure

Offered Freehold - Retail units 1 and 2 Leasehold.

Rent Roll

Retail - £14,000 pax
Residential - £23,000 pax
Total Rent Roll - £38,000 pax
(Potential to increase Rent Roll subject to revised roof top flat - subject to consent or improvements to existing apartments)

Agents Note

Plans drawn for a proposed luxury roof top flat, consent not applied for or achieved - contact the agent for further details. The Partners of Toombs & Toombs Properties have a financial interest in this property.