Business for Sale in England: Kent - LEASEHOLD PROPERTY INVESTMENT OPPORTUNITY - Leasehold: £99,500

Key Information

Ref
M33336Z
Type
Commercial Property: Investment Properties
Location
England: Kent
Tenure
Leasehold
Status
For Sale
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This substantial property is located in the centre of Maidstone in Kent. The premises consists of a ground floor commercial property trading as a grill restaurant and a 10-room HMO on the first and second floors comprising 9 bedsits and a 1-bedroom flat.

The vendors currently have over 25 years remaining on a 35-year lease, and already generate a healthy profit by subletting the entire premises. The shop is sublet to commercial tenants on a 20-year lease from November 2010 at a current annual rent of £23,000. The 10 upper floor rooms are sublet to residential tenants on separate rental agreements with rents currently ranging between £295 pcm and £490 pcm.

We understand that there is scope to significantly increase the net income by raising the residential rents and also self-managing the property (the vendors currently use a lettings agency and pay commission accordingly). Clearly, this could be a lucrative opportunity offering an excellent return on investment.

Ref: M33336Z LEASEHOLD: £99,500

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