•Available Subject To Auction Terms & Conditions
•Guide Price: £140,000+
•Substantial Former Public House
•Vacant: Opportunity to Add Value
A substantial former public house adjoining two storey terraced housing. Ideal for any investor looking for a property requiring refurbishment or conversion (STP).
The property offers spacious and versatile accommodation arranged over three floors, totaling approximately 3,930 Sq.Ft. Each floor having separate access.
Given the right programme of renovation/ conversion and subject to the necessary planning permissions, we estimate the property could provide space for six flats arranged over the ground, first and second floors.
Alternatively the property could be renovated and re-instated as a public house/hotel.
Externally the property enjoys a generously proportioned garden to the rear, and further benefits from ample car parking to the front and side.
Total – 3,930 Sq. Ft (365 Sq. M)
Approximate gross internal floor area taken from commercial EPC.
Please note an inspection has not been undertaken.
We understand the property to have mains electricity, water and drainage.
The property is rated in Council Tax Band A. Council Tax payable (2017/18) is approximately £1,070.
The property has a current rateable value of £4,400. We advise all interested parties to make their own enquiries.
Subject to the necessary planning permissions we estimate the property could be converted into 4 x two bedroom flats and 2 x one bedroom flats.
If converted into flats, the property has the potential to generate an income in the region of £25,200 - £32,400 per annum, providing a gross yield of between 18% and 23.14% based on the guide price, before taking into account purchase costs or conversion costs.
2% (min. £3,600) inc. VAT
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