Summary - 38, TITCHFIELD STREET KA1 1PH
1 bed 1 bath Commercial Property
Secure immediate income from a refurbished salon in a busy retail strip.
1,000 sqft freehold commercial unit in prime town-centre trading position
This large, 1,000 sqft freehold commercial unit sits on a busy retail street and is currently fully let as a salon, producing £9,000 per annum. The premises were comprehensively renovated four years ago, including rewiring and gas central heating works, and present well with open-plan salon space, two therapy rooms, staff kitchen, W/C and a secure rear courtyard.
The property is offered at auction and presents a clear yield opportunity for a cash buyer or experienced investor. It benefits from excellent footfall, town-centre transport links and fast broadband and mobile reception. On-street parking serves visiting customers.
Important drawback: the existing full repairing and insuring (FRI) lease only has three years remaining to 2028. That short lease term is likely to deter mortgage lenders and will limit mainstream financing options. The unit is in a very deprived area, which may affect long-term capital growth and tenant turnover.
This is a straightforward, income-producing freehold for a buyer who can manage lease renewal or re-let after expiry, and who is comfortable with auction purchase terms and potential financing constraints.
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