Investment opportunity in Peterborough city centre.
Description
The property comprises a 4 storey building of brick construction, with a restaurant on the ground and first floors and two flats let on AST's on the second and third floors. The restaurant (Embe Soul Food) is currently paying a rent of £20,000 per annum, with the lease due to expire in April 2024, however the tenant is keen to renew for another 5 years (unbroken) - rent to be agreed. The two large flats above each have a combined rental income of £1,400 per calendar month (£16,800 per annum) - again the rent is to be negotiated upon renewal. Subject to planning, there is scope to add further residential units.
Viewings
Strictly by appointment with the sole agents.
Terms
The property is available for a sale freehold. Guide price of £600,000.
Name | sq ft | sq m |
---|---|---|
Ground - Floor restaurant | 1,020 | 94.76 |
Ground - Floor Store | 72 | 6.69 |
1st - Floor restaurant | 728 | 67.63 |
2nd - Floor Flat | 876 | 81.38 |
3rd - Floor Flat | 866 | 80.45 |