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INVESTMENT PROPERTY – SUBSTANTIAL BUILDING CONTAINING A CONVENIENCE STORE, 2 SELF CONTAINED FLATS AND A GARAGE/WORKSHOP LOCATED WITHIN THE SPLOTT AREA OF CARDIFF

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  • Substantial building on a corner plot within the residential area of Splott, close to the City Centre.
  • Convenience Store located on the main road generates £5,400 per annum in rent from a tenant that has occupied the premises for 2.5 years.
  • Excellent 2 Bedroom Apartment achieving a rent of £7,800 per annum and a further 1 Bedroom Flat offering an income of £6,600 pa.
  • Large Double Garage that is rented as a motor conversion workshop for £4,800 pa.
  • We are informed the property is generating a total income of £24,600 per annum with the potential to increase that figure as the rental figures have continued to rise in this popular area.
AN EXCELLENT OPPORTUNITY TO ACQUIRE A SUBSTANTIAL INVESTMENT PROPERTY WITHIN A SOUGHT AFTER AREA OF CARDIFF
ASKING PRICE £250,000 FREEHOLD

Location

This 19th Century brick built property is sat on a substantial corner plot on Walker Road, Splott, Cardiff.

Splott is a district and thriving community in the south of Cardiff, close to the city centre and offers a good range of amenities.

The area was built in the late 19th Century on the land of two farms and was characterized by its once vast steelworks and rows of tightly knit terraced houses.

The population of the area is approx. 12,000 residents.

THE PROPERTY

This prominent corner plot building is of brick construction, under a pitched, tiled roof, occupying an excellent corner position on Walker Rd, Splott, Cardiff.

COVENIENCE STORE

The Convenience & Sweet Store is located to the front of building and benefits from a main road frontage.

The current tenants have been at the premises for 2.5 years and have created a busy little corner shop.

The shop is creating a rental income of £450 per month.

GARAGE/WORKSHOP

The Garage/Workshop is located to the rear of the building and is currently being utilised as a business for converting motor vehicles into motorhomes.

The tenant has been trading from the premises for 3 years and is keen to purchase this part of the building for £50,000 if the new owners are interested in selling.

The garage/workshop is achieving a rental income of £400 per month.

Similar properties in the area have been converted into flats/apartments and the spacious building would have the potential for 3 x 2 Bed Flats.

ACCOMMODATION

The accommodation is located on the Ground and 1st Floors.

The Two Bedroom Apartment is located on the first floor and consists of Two Double Bedrooms, Large Lounge, Fully Fitted Kitchen-Diner and Bathroom. This apartment is achieving a rental income of £650 per month.

The One Bedroom Apartment is located on the ground floor and offers a Double Bedroom, Kitchen-Diner, Lounge, Utility, Porch Entrance and a Car Port along with a Patio Area. This apartment was achieving a figure of £550 per month, although our vendor is currently living at the premises until the sale is completed.

The apartment rents have not been increased for 6 years and could potentially attract a higher figure in the area.

EXTERNAL

The property has a large car port with storage areas along with a Patio Terrace Area.

GENERAL REMARKS

The business and property is being offered for sale freehold (although we have not seen sight of the title deeds).

We are advised that the inn benefits from mains services (no services seen or tested). Business rates are advised as currently being circa £0 per annum.

THE INVESTMENT PROPERTY

The property has been in the same family for 40 years and is being offered in excellent condition throughout.

Our vendors are looking to retire and offer the property to the market as an excellent investment opportunity achieving 10% return on the investment.

We are advised that the current rent being achieved is £24,600 per annum although a local letting agent has suggested that this could be increased due to the high demand in this popular area.

This business was viewed by Marc Blackford who would be delighted to discuss further details and can be contacted on 07812 753014.

Viewing appointments must be made by contacting Guy Simmonds on 01332-865112.

ADDITIONAL IMAGES

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