31 Kings Rd
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31 Kings Rd
3,198 SF Retail Building St Leonards On Sea TN37 6DU £395,000 (£124/SF) 8.77% Net Initial Yield
Investment Highlights
- Central Location Near Train Station
- Multi Let Residential/ Commercial
- Nearby Seafront
Executive Summary
Multi-Let Residential / Commercial Investment – Fully Income Producing in Busy Town Centre Location - Reflecting a Blended Yield of 8.77% after Purchaser Costs at 3.75%
The Premises comprise a mid terraced retail premises trading as a children’s soft play with 3 upper floors offering two self contained flats let on Assured Shorthold Tenancies. The building will be fully let and income producing. The shop is held on Law Society lease with repair liabilities. The flats are accessed direct from Kings Road with communal hallway and stairs leading to flat One comprising a two bedroom flat and flat two offering a 3 bedroom maisonette. Amenities include, gas fired heating, modern kitchens and bathrooms.
Offers are invited in the region of £395,000 for the freehold interest, with the benefit of the income as detailed. This reflects a blended yield of 8.77% after purchaser costs at 3.75% with reversion yield of 9.59%.
Business Rates:
Shop and premises Rateable Value £9,100.
Flat 1 Council Tax Band A
Flat 2 Council Tax Band B
The Premises comprise a mid terraced retail premises trading as a children’s soft play with 3 upper floors offering two self contained flats let on Assured Shorthold Tenancies. The building will be fully let and income producing. The shop is held on Law Society lease with repair liabilities. The flats are accessed direct from Kings Road with communal hallway and stairs leading to flat One comprising a two bedroom flat and flat two offering a 3 bedroom maisonette. Amenities include, gas fired heating, modern kitchens and bathrooms.
Offers are invited in the region of £395,000 for the freehold interest, with the benefit of the income as detailed. This reflects a blended yield of 8.77% after purchaser costs at 3.75% with reversion yield of 9.59%.
Business Rates:
Shop and premises Rateable Value £9,100.
Flat 1 Council Tax Band A
Flat 2 Council Tax Band B
Property Facts
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Storefront Retail/Residential
Building Size
3,198 SF
Building Class
B
Year Built
1900
Price
£395,000
Price Per SF
£124
Net Initial Yield
8.77%
NOI
£34,642
Tenancy
Single
Number of Floors
3
Building FAR
2.90
Lot Size
0.03 AC
Frontage
15 ft on Kings Rd
Amenities
- 24 Hour Access
1 of 1
Nearby Major Retailers
1 of 4
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31 Kings Rd
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