MIXED USE INVESTMENT PROPERTY FOR SALE. Prominent location.
In a prominent location, situated on the corner of Ship Street and Market Street, this large mixed used building is just off the town centre and is only a short walk from the town’s main car parks. Brecon is a traditional market town with a population of over 8,000 and a wide catchment area. It is the third largest town in Powys and is popular with tourists being the centre of the Brecon Beacons National Park, an area of outstanding natural beauty. This commercial property has a ground floor shop, one self-contained, small apartment and seven bedsits which are currently producing an income of £35,200pa.
The shop is let to a bicycle company. The tenant has been in occupation since November 2006 although there is no lease in place. It extends to 109 sq.m and the tenant pays £8,160 pa. They look after the internal of the shop and the landlord the external.
The apartment and bedsits are let on occupation contracts and many tenants have been there a long time. They have electric panel heaters and their own electric meters. Flat 1 is self-contained and the accommodation comprises of a kitchen/living room, shower room and bedroom. Their rent is £75 per week.
Bedsits 2 and 3 share a kitchen and shower room. Bedsit 2 is let at £65 per week and bedsit 3 is let at £60 per week.
Bedsit 4 & 5 share a kitchen and shower room. Both rents are £65 per week.
Bedsits 6,7 & 8 are on the second floor and share a kitchen and shower room. Two are let at £65 per week and one at £60 per week.
The showers and kitchens have coin meters which the landlord collects and pays for.
The bedsits generate £27,040pa.
Flat 1 is a council tax band A which the tenant pays. The other bedsits come under the council tax band B’s which the landlord pays. The landlord pays the water bills.