2 bedroom flat for sale

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2 bedroom flat for sale

Norton Street, Grantham, Lincolnshire, NG31
£185,000

Our Summary

  • COMMERCIAL FOR SALE BY PRIVATE TREATY 21B Wharf Road and 1 Norton Street, Grantham, Lincolnshire Incredible opportunity to buy this substantial, combined retail and residential investment unit with a potential rental income in excess of £14,000 per annum and potential yield in excess of 8%
  • For sale separately is the STORE at the rear which has planning to convert to two, one bed flats - please ask for more details

Description

This is an incredible opportunity to purchase a substantial combined retail and residential investment unit in the middle of Grantham's town centre, with a potential rental income in excess of £14,000 per annum and potential yield in excess of 8%. The unit is vacant and could suit an investor or owner occupier who would like the additional income from the flats above, which are currently let and have historically rented out easily. The property includes a retail shop with two flats above, with the shop at 21B Wharf Road currently vacant and the flats above addressed as 1 Norton Street being let on Assured Shorthold Tenancies. The combined rental for the flats is £9,880 per annum, with a possible rental price of £5,000 per annum for the commercial unit, making a potential yield of above 8%. Additionally, the store at the rear has planning permission to convert to two one-bed flats. The property is situated on a busy road, close to major national retail outlets, the bus station, and train station, with excellent road and rail connections to nearby cities.
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