An opportunity to purchase an extremely well-presented Mixed Use development offering part residential with four apartments to the first floor and part commercial with five units to the ground floor.

The property is centrally located in Fenny Stratford with a prominent high street position, fully let, generating a gross income of £105,600 per annum. The property also presents parking to the rear which is shared between the residential and commercial units with the remaining spaces let to a parking company on a lease where the profits are shared at 50% each. This opportunity offers an 8% yield with guaranteed income for at least 2 years.

Tenure

Freehold

RESIDENTIAL SCHEDULE

Each of the four apartments is fully let on assured shorthold tenancies generating £52,800 per annum.

COMMERCIAL SCHEDULE

Each Commercial unit is fully let on a minimum 5-year term generating £53,100 p.a.

APARTMENTS

There are four newly renovated apartments presented in good order, each apartment has communal access to the front of the building with a secure entry phone system. The ground-floor lobby presents access to the car park and has stairs rising to the first-floor landing where doors lead to each apartment. The apartments comprise entrance hall, an open plan kitchen/lounge/diner with two bedrooms and a bathroom. Each flat has a balcony to the front elevation and has been finished to a good standard with off-road parking for one vehicle to the rear car park.

COMMERICAL UNITS

Five fully-let commercial units have high street window displays and pedestrian access. Each unit has two allocated parking spaces and vehicular access to the rear through the car park. Each Unit Measures: 53a: 436 sq ft ITZA 53b: 439 sq ft ITZA 53c: 417 sq ft ITZA 57a: 439 sq ft ITZA 57b: 407 sq ft ITZA

PARKING

At the rear, there is vehicular access to a 24-space car park which comprises allocated parking for the tenants and pay and display parking for visitors. The parking is controlled by Napier Parking Ltd on a 24-month lease commencing 14th June 2022, the profits are divided between the leasee and the freeholder 50/50 and currently generates roughly £30 pcm.

Local Authority

Milton Keynes Council

Additional Fees

Buyer's Premium - The purchaser will be required to pay a buyers premium charge of £6,000 (£5,000 plus VAT)

Administration Charge - The purchaser will be required to pay an administration charge of £900 (£750 plus VAT).

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