Summary - Flat 2, 3, King Street IP24 2AN
1 bed 1 bath Commercial Property
**Standout Features:**
- Leasehold investment opportunity with a guide price of £175,000 to £205,000.
- Currently part let generating £18,500 PA with potential for higher income.
- Comprising two retail shops and a former bank, plus an office space above.
- Off-street parking available for two vehicles.
- Located in a high-footfall area on King Street and Riverside Walk.
**Potential Downsides:**
- Yearly ground rent is significant at approximately £9,125.
- Certain units are currently vacant, requiring some renovation or re-leasing efforts.
- Crime rate in the area is very high.
This prime commercial property presents a compelling opportunity for investors, combining two retail shops and a formerly operational bank with additional office space. Currently generating £18,500 annually, there’s substantial potential for increased earnings, particularly if the vacant units are leased. With an auction closing on May 8, 2025, you can seize this moment to secure a versatile property positioned in a bustling area. The inclusion of off-street parking enhances its appeal, catering to business needs and customer convenience alike.
The property is ideal for professionals looking to expand a portfolio or first-time investors eager to tap into the rental market. Be mindful of future ground rent obligations, and the opportunity for renovation to increase rental yields. Whether you envision this space as thriving shops or conversion potential, the flexibility within this investment makes it a standout in the market. Don’t miss out on this chance for a strategic property acquisition!
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