Mixed Use Unit with Class 3 Consent at Oriental Chinese Takeaway, Main Street, St Boswells, TD6 0AP
Sale history
£136,500 in October 2023
The property
Offering immediate income to the commercial investor, The Oriental Chinese Takeaway of Eildon View, St Boswells is a well positioned mixed use unit within the heart of the village. Extending over an impressive 147sq.m and comprising of a mix of both commercial and residential, the premise is being offered at £135,000, having been independently valued at £60,000 for the commercial element and £75,000 for the residential element. Also benefiting from off-street parking by way of a garage to the rear, this opportunity would be ideal for those looking to expand their portfolio, or those looking for a conversion project - viewings come highly recommended. Commercial Element: The commercial aspect of the property spawns across the ground floor of the building, comprising of a reception area, working kitchen, two store rooms and an externally accessed WC. Holding a class 3 classification, the property allows for the sale of food or drink for consumption on the premises but the building itself would be suitable for a variety of different business ventures. Resdiential Element: Accessed from within the property is a three bedroom first floor apartment that is well proportioned throughout with an abundance of natural light cascading in. Investors may also consider the option of converting the property as a whole to a substantial residential dwelling, although no plans have been sought or approved at this time. Current rental and investment potential: For those looking to begin, or expand a rental portfolio this commercial premise has a long and successful letting history. With a current monthly income of £950.00 per month (£11,400 P/A) the property offers a gross rental yield of 8.44% per annum. Lease information: The current lease commenced on 15.07.2009 and the end date is set at 14.07.2027 with no break clause option. Although discussions in respect to this are welcome. Rateable Value: The subjects are assessed to a Rateable Value of £2,500 effective from 01-April-2017. There is no change to the Rateable Value proposed from 01-April-2023.Rateable value/council tax information has been obtained from the Scottish Assessors Association website whilst believed to be correct, this information has not been verified.
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