Property description
INVESTMENT OPPORTUNITY: POTENTIAL 10% GROSS RENTAL YIELD - A Grade II listed town property with accommodation on 4 floors.
Restaurant/Retail premises and a one bedroom maisonette (currently let at £425 pcm).
Situation
Ironbridge is a renowned and historic area nestling in The Severn Gorge which forms one of the most striking and distinctive landscapes in England, with a charming town centre adjoining the River Severn and the slopes of The Gorge combining a delightful mix of imposing, detached period residences mingling with charming cottages up the hillside. This remarkable area was at the heart of the Industrial Revolution and became world famous in 1779 when the world’s first iron bridge was constructed over the River Severn and from which the town derives its name. It is steeped in the industrial heritage of the area with local museums forming part of the World Heritage Site and is now recognised as a premier tourist area. Some five miles to the north is the excellent range of shopping and recreational facilities at Telford town centre, together with the railway station and M54.
No.26 / 26a High Street is a four storey Grade II listed town centre property benefitting from numerous period features. The basement and ground floor were formerly occupied by Da Vinci restaurant and more recently utilised for retail / restaurant purposes.
The basement level incorporates a bar, restaurant and kitchen area.
On the ground floor there is a further restaurant / sales area.
On the first floor there is a landing area leading to an office, ladies and mens wc’s and store room.
The self-contained residential maisonette is accessed separately via a side alleyway and comprises a ground floor entrance with staircase ascending to the first floor where there is a shower room/wc and staircase ascending to the second floor. The second floor comprises a lounge, kitchen/diner and double bedroom.
How to get there – No.26 / 26a High Street is situated almost opposite the Ironbridge office on the other side of the road indicated by a Nick Tart for sale board.
Asking Price: offers in the region of £185,000. Alternatively a rent of £12,000 per annum for the term to be agreed between the parties for the basement, ground floor and part first floor restaurant / retail unit.
Tenure – we are advised the property is Freehold with vacant possession for the restaurant / retail premises. Part of the first floor and residential maisonette is let to a residential tenant on an assured tenancy agreement for £425 pcm.
Services – we are advised all mains services are connected. Gas fired central heating system.
Council Tax – Maisonette = Band B (Buyers should be aware that improvements carried out by the seller may affect the property’s council tax banding following a sale).
Rateable value £1,875 verbal enquiry, rates payable in 2015 – 2016 = £903.75.
VAT: The vendor / landlord reserves the right to charge VAT on the above figures as appropriate.
N.B. The previous ground floor tenant will be removing her fittings to include the wrough iron entrance gate, stained glass, kitchen fittings, fridges, tables, chairs, counters and shelves etc.
A property information questionnaire is available at any time upon request.
Property Info: