East Street, Crewkerne

A Mixed-Use Investment Property Producing an income of £43,260 per annum

The Property - A mixed-use investment property producing an annual rental income of £43,260 from multiple tenancy arrangements, including Assured Shorthold Tenancies on the seven apartments and a commercial tenancy of the ground floor shop, which is currently holding over.

The property is a beautiful Grade II Listed four-storey building of solid painted render elevations beneath a pitched slate roof. It is internally arranged as seven attractive self-contained apartments and a retail unit at ground floor level. The ground floor is a retail unit measures approximately 77.8 m2 (839 ft2) and occupies a commercially viable and prominent town centre position. There is a communal garden to the rear, access to which is shared by the tenants, along with a common entrance off East Street. There are five one-bedroom apartments and a two bedroom apartment arranged over ground floor, first floor and second floor levels.

The building has recently been redecorated and is on good order.
The freehold interest in the property is available for purchase.

Situation - Crewkerne is an attractive and vibrant South Somerset market town on the A30, situated 9 miles south west of Yeovil and 7 miles east of Chard in the South Somerset district, close to the border with Dorset. There is a mainline rail station with regular services to and from London Waterloo. The property is situated near to the town centre on the main road to Yeovil.

Directions - From the A356 (North Street) past the Town Hall at Market Square in Crewkerne’s town centre, turn right into East Street and the property is on your left-hand side, opposite the bicycle shop.

Services - Mains electricity, gas, water and drainage available.

Local Authority - Somerset Council
Apartment 1, 3, 4, 5, 6 & 7 - Council Tax Band A
Apartment 2 – Council Tax Band B
Retail unit - RV £4,950

Finance Act 1989 - Unless otherwise stated, all prices and rents are quoted exclusive of Value Added Tax (V.A.T). Any intending purchasers or lessees should satisfy themselves independently as to VAT in respect of any transaction.

Legal Details - Full details of the terms of the tenancies are available from the Agent.

Rental Income - Rents receivable total £43,260 per annum, with scope for these to be increased in line with Market Rents.
Legal Costs
Each party to be responsible for their own legal costs incurred in the transaction.

Energy Performance Certificates - Retail Unit – Energy Rating D (90)
Apartment 2 – Energy Rating D (68)
Apartment 3 – Energy Rating C (74)
Apartment 4 – Energy Rating C (74)
Apartment 5 – Energy Rating C (71)
Apartment 6 – Energy Rating C (69)
Apartment 7 – Energy Rating E (39)