Project Description

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Location
The property is located on Outram Street in Sutton town centre, in an area popular with many retail outlets and next to the Barista coffee shop. Good levels of passing trade benefit the retail unit.

Outram Streeet is off Station Road, close to the A38, and provides direct access to the M1 motorway network.

Locally there are a vast range of amenities including shops, an Asda superstore, Wilko’s and many more high street retailers, restaurants and pubs.

Mansfield is 4 miles to the north east and Sutton Parkway train station is within 1.5 miles, so ideal for tenants needing to commute.

Description
A mixed use semi-detached property, currently arranged as a ground floor retail premises with 2 x 1 bedroom flats over the first and second floors.

The retail unit has its own entrance with an internal porch area onto the shop floor. The shop is spacious and light with a large window frontage onto the busy high street.

The first and second floor flats have a separate entrance to the shop and can be accessed via a communal staircase shared between both flats.

Internally, each flat comprises open plan kitchen/living area, one double bedroom and family bathroom.

Accommodation
Property not measured.

Services
We understand the property has mains gas, electric, water and drainage.

Tenure
Freehold

Investment Analysis
We are advised that one of the flats is currently tenanted at £400 pcm (£4,800 pa) and that the vacant flat and retail unit were both previously let for £400 pcm each (£9,600 pa).

Once fully occupied the property could achieve £1,200 pcm (£14,400 pa), reflecting a gross annual yield of 13.71%.

Council Tax
Each flat is rated in Council Tax Band A. Council Tax payable (2016/17) is £1,146 pa per property.

For business rates we would advise to make enquiries with Ashfield borough council.

*Guide Price
£105,000+

Please note an inspection of the property has not been undertaken. Photos have been provided by a third party and should not be relied upon.

Viewing by Appointment

To view this property, please contact John Pye Property – property@johnpye.co.uk – 0115 970 6060

Please click the following link to access the legal pack documents – http://www.johnpye.auctiondocs.com/

Address

4 Outram Street
Sutton In Ashfield
Nottinghamshire
NG17 4AX

Features

✓ Mixed use investment
✓ Ground floor retail premises with A3 license
✓ 2 x 1 bedroom flats
✓ One flat currently tenanted for £400 pcm
✓ Retail unit and vacant flat previously let for £400 pcm each
✓ Potential gross yield 13.71%
✓ Town centre location
✓ Close to all amenities
✓ Good decorative order

Contact

Hayley Riley
Phone: 0115 970 6060
Email: property@johnpye.co.uk
Our Ref: PR297

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