Kemar House, Earl Road, Mold CH7 1AX

Size - 500 - 1,300 Sq Ft

For Sale - £220,000

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Details

Kemar House, Earl Road

Quick Overview

  • Freehold investment including vacant ground floor shop.
  • Situated in town centre.

Location

Situated in the centre of Mold which is not only the administrative centre for the County of Flintshire but is also a prosperous market town covering high street and livestock markets four days of the week. It is close to the town’s main post office, the Daniel Owen Square entrance into the market and shopping precinct and opposite such specialist traders as Smith Opticians and Absolute Footcare. Immediately to the rear is the Meadow Place public car park.

Description

The premises are arranged on ground and two upper floors comprising a shop at ground floor and two flats above separately accessed from the rear. The shop is fully fitted and has been trading as a beauty nail salon comprising a partitioned front trading area of 450 sq ft (41.82 sq m) and to the rear a kitchen of 190 sq ft (17.66 sqm) plus a WC. The first floor flat provides two bedrooms, a kitchen, a bathroom with WC along with a living room whilst the second floor also provides 2 bedrooms, but with a kitchen cum dining room, WC and shower and a living room. Both flats have gas fired central heating and it is understood that the whole building is fully fire alarmed.

Parking

The building also has the benefit of 3 car parking spaces to the rear.

Tenure

We are advised that the property is held freehold.

Tenancies

The ground floor shop is shortly to become vacant. Both flats are held on Assured Shorthold Tenancies with the first floor generating £525 per month and the second floor generating £450 per month.

Rental Income

The rental income from the apartments equates to £11,700 per annum and the rent up until recently obtained from the shop was £8,640 per annum.

Price

£220,000 exclusive.

VAT

It is understood that the premises are not currently VAT registered.

Business Rates

The Valuation Office Agency Website (www.gov.uk/correct-your-business-rates) has a current Rateable Value assessment  on the shop of  £4,250 creating an estimated rates payable of (2019—2020) of £2,235.50.

As the Rateable Value is below £6,000 any tenant of the shop may be eligible for 100% Small Business Rates Relief meaning no Business Rates are payable.

Please contact the Business Rates Department directly for confirmation.

Legal Costs

Each party is to be responsible for their own legal costs incurred in the transaction.

Anti-Money Laundering

Under Money Laundering Regulations we are obliged to verify the identity of a proposed purchaser once a sale has been agreed and prior to instructing solicitors. This is to help combat fraud and money laundering and the requirements are contained in statute. A letter will be sent to the proposed purchaser once the terms have been agreed.

Further Information / Viewings

Please contact Richard Bolton of Bolton Birch:
Tel: 01244 311681
Email: richard@boltonbirch.com

20.11.19

Freehold investment including vacant ground floor shop. Situated in town centre.

Kemar House, Earl Road, Mold CH7 1AX

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