High Street, Maldon, Essex, CM9

£950,000

Guide price

LOCATION:

Located in the very active retail area in Maldon High Street, with a good local trading position with high demand for residential rental properties. Maldon High Street is located 11 miles east of Chelmsford and 50 miles to central London using the A13 with a journey time of approx. 1 hour 20 minutes.

DESCRIPTION:

An opportunity to purchase an attractive mixed residential and commercial investment in a busy location in Maldon High Street, providing an income of approx. £64,000 per annum.

Double fronted three storey building comprising of two ground floor retail units and four residential apartments on the upper floors. There is an attractive building to the rear, including three garages and one further apartment on the first floor. The rear building has vehicular access and approached via the side of the property and provides a parking space.

Accommodation The property comprises two commercial units on the ground floor which according to the Valuation Office Agency measurements, unit 132 is approx. 621 sq. ft. (57.7 sq. ms) and unit 134 is approx. 615 sq. ft. (57.2 sq. ms).

The residential upperparts comprises four, two bed apartments over the first and second floor with three of the four currently let on AST's. The building to the rear of the property is a self-contained one bed apartment providing one parking space and located above three garages which are all let.

Tenancy Schedule Tenancy details:

Ground Floor Shop - 132 - Let at £650 pcm

Ground Floor Shop - 134 - Let at £630 pcm

First Floor 2 bed Flat - 132a - Let on an AST at £795 pcm

First Floor 2 bed Flat - 132b - Let on an AST at £825 pcm

Second Floor 2 bed Flat - 134a - Currently available, expected rent £795 pcm

Second Floor 2 bed Flat - 134b - Let on an AST at £795 pcm

Building at Rear:

First Floor 1 bed Flat above garages - Let on an AST £680 pcm

3 Garages currently let at £50 each- £150 pcm

TOTAL INCOME pcm £5320 pa £63,840.00

Price This freehold investment opportunity is available with an asking price of £1.1m. All other terms and conditions by negotiation.

Energy Performance Certificate Available on request

Legal Fees Each party is responsible for their own legal costs

Viewing To be arranged by prior appointment via Dedman Gray on 01702 311111.

Arrange viewing 01702 781134

Dedman Gray

103 The Broadway, Thorpe Bay, Essex

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