Mixed use investment opportunity comprising a let cafe and maisonette producing £18,940 pa

This town centre Grade II listed mid terrace property comprises a let ground floor cafe and self contained one bedroom maisonette above producing £18,940 pa. The cafe trades as Taylors Cafe and is let at £13,000 pa on a five year lease dated 3rd May 2024. The one bedroom maisonette is in good decorative order and is let on a one year assured shorthold tenancy dated 28th May 2019 at £495 pcm (£5,940 pa) to a long established tenant who has been in occupation for over five years. This is an ideal mixed use investment opportunity.

Tenure

Freehold

Cafe

Lower ground floor: lounge, snug, corner area, two toilets, rear seating area Ground floor: main seating area, servery, kitchen

Maisonette

First floor: entrance hall, kitchen / breakfast room, bathroom, sitting room Second floor: bedroom in two parts

Outside

Pedestrian access from Oak Street, at the side of No.7 serves the covered terrace for Taylor's and staircase access to the maisonette.

Rateable Value

According to the valuation office website the restaurant and premises has an area of 102.3 sqm and a rateable value of £8,400 with effect from 1st April 2023.

Energy Efficiency Rating (EPC)

Current Rating Shop: C Flat: E

Services

Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services.

Local Authority

North Norfolk District Council

Solicitors

Hayes and Storr (Sheringham), Ref: Jeremy Elliott, Tel: 01263 223044

Additional Fees

Buyer's Premium - £900 inc VAT payable on exchange of contracts.

Administration Charge - 0.3% inc VAT of the purchase price, subject to a minimum of £1200 inc VAT, payable on exchange of contracts.

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.