178 King St

This is an excellent opportunity to secure a commercial/retail freehold investment. The freehold benefits from a commercial tenancy on the ground floor and ground rents from two upper floor flats which have been sold off on long leases (details below). The sale at £600,000 represents a gross yield of 7.33% based upon the current commercial tenancy.
Commercial ground floor details - 756 square feet occupied by Portico Estate Agents (Portico Property Ltd – D&B Rating N2). Commercial Lease terms – 15-year lease from 11 October 2017 with no breaks (lease expires October 2032), with a current annual rent of £44,035 per annum.
Upper floor flats - Two flats sold off on long leasehold basis. Residential Lease terms and ground rents are: 99 years from August 1993 and 99 years from October 1993. Both pay ground rents of £50 each for the first 33 years, £100 for the next 33 years and £150 per year for the remainder of the 99-year lease terms.