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4 Station Road, Faringdon – Investment

£485,000
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Available

FOR SALE – COMMERCIAL AND RESIDENTIAL INVESTMENT

•           Ground Floor Retail Unit (Let)

•           2 Flats to the Rear (one subdivided)

•           Rear Enclosed Garden

•           Garden Building

A flexible mixed use investment with possible vacant possession available on a first floor flat to the rear.

At present the property is laid out with a retail area to the front of the ground floor and a one bedroom flat to the rear.

On the first floor there are 2 flats created from one large dwelling on a temporary basis (no planning consent exists for the sub-division).

To the rear is a good sized mature garden with paving and shrubs with a garden room currently occupied by a family member as a bed sit although no planning consent exists for this use.

TENURE

Retail Shop.  Let under Commercial lease.

Ground Floor Flat.  Let under an Assured Shorthold Tenancy (Periodic)

First Floor flat. Part vacant possession available and part let under an Assured Shorthold Tenancy.

SERVICES

Mains water electricity and drainage with mains gas connected to the retail unit.

COMMERCIAL PROPERTY

The majority of the ground floor is let to a hairdresser and beautician under a commercial lease dated 20/11/2011.

Terms:

•           12 Years – terminating 19/11/2023

•           Rent £8,400 p.a. – payable monthly

•           User Clause – Hairdresser or A1 use

•           Internal Repairing and Insuring

•           Not Contracted Out

•           Service Charge for shared areas

•           Rent Deposit held

The unit extends in all to about 83.12 m2 (893ft2) and is well presented and laid out.

RESIDENTIAL PROPERTY

To the rear of the property approached via a pedestrian access is an attractive garden area leading to a ground floor one bedroom flat with good sized open plan kitchen and living area together with bathroom.

The flat is let on an Assured Shorthold Tenancy at £6,000 per annum with shared bills in addition. The lease is currently in its Periodical phase.

An external stairway leads to a terrace area with doors to the first floor sub-divided flats. The larger flat consists of a kitchen, sitting/dining area, 2 first floor bedrooms and a further attic room on the second floor with store area.

The property is currently occupied by the vendors and vacant possession will be available on completion.

The other first floor flat, which in planning terms forms part of the adjoining flat, is let on an Assured Shorthold Lease for £700 per month inclusive of bills.

Within the garden is a previous store building which is currently being used as a one bedroom temporary building but is not consented. Vacant Possession will be available.

ENERGY PERFORMANCE CERTIFICATES

Retail Unit – B38

Ground Floor Flat – C72

First Floor Flat (large) – E53

First Floor Flat (small) – E47

DIRECTIONS

From A420 enter Faringdon along Park Road. Continue towards the Town Centre and the building is on the left hand side just after the Fire Station and before the roundabout.

VIEWINGS

In order to assist with Covid-19 restrictions viewings are purely by appointment and we would request viewers wear masks and try to avoid touching surfaces were possible.

No floorplans available.

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Our Marriotts office in Faringdon is now back open and we are able to carry out valuations, viewings and site meetings by appointment, following strict government guidelines for the safety and protection of all parties.  Interest in properties has remained high throughout the shutdown, and we now find there is even more interest in both residential and commercial sales and lettings.

 

If we can be of any assistance, please call our office in the first instance, on 01367 242422, or alternatively you can call Andrew Brown on 07971 410312 or Juliet Souter on 07770 640080