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Our Summary
- Freehold Mixed-Use Investment Opportunity
- Vacant Ground Floor and Mezzanine Restaurant with Conversion Potential (STP)
- Vacant Ground Floor & Mezzanine Restaurant with Conversion Potential (STP)
- The commercial element offers strong potential to be let at an estimated rent of £10,000 per annum
- There is also potential to convert part of this commercial space into a fourth residential unit, subject to obtaining necessary planning consent
- This opportunity will appeal to owner-occupiers seeking prominent commercial space, investors seeking strong yield rental returns, or developers exploring further conversion potential
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Description
The property is a mid-terrace, three-storey freehold building on Union Street in Torre. The ground floor and mezzanine level are currently vacant and used as a former restaurant, with conversion potential. The space measures approximately 24' 11'' x 14' 3'' (commercial area), 28' 10'' x 21' 7'' (mezzanine floor), and has a kitchen, WC, and seating area.
Above the ground floor, there are three self-contained residential flats with a communal hallway: two one-bedroom flats (31m² and 33m² in size) and one two-bedroom flat (53m² in size). Each flat has its own utility supply and is fully let on Assured Shorthold Tenancies.