A great opportunity to purchase this freehold property, comprising of 2 self-contained flats with additional lock up shop. The property would generate approximately 13.5% gross yield per annum and may suit as part of a pension portfolio.

Freehold Investment Opportunity in the Heart of Ilfracombe (business unaffected).

A chance to acquire this well-located mixed-use freehold property, situated in the centre of Ilfracombe. The building comprises a ground floor lock-up retail unit and two self-contained residential flats above.

Access to the flats is via a separate entrance leading to a communal hallway. The first floor offers a self contained one-bedroom flat, currently tenanted. The upper two floors feature a spacious three-bedroom maisonette, which requires refurbishment before being re-let.

Current & Projected Income
Retail Unit (Ground Floor) – Let at £350 pcm / £4,200 pa

1-Bed Flat (First Floor) – Let at £485 pcm / £5,820 pa

3-Bed Maisonette (Top Floors) – Estimated rental income £750 pcm / £9,000 pa once renovated

Projected Total Rental Income: £19,000 per annum. Estimated Gross Yield: Approximately 13.5% per annum

Additional Information
Council Tax Band: ‘A’ for both flats
EPCs: Available for both flats (Shop EPC pending)
Tenure: Freehold

Business Rates (Retail Unit)
Rateable Value: £4,400 (as of April 2023)
UBR: 49.9p in the May qualify for 100% Small Business Rate Relief (RV under £12,000) applicants should verify with the Valuation Office Agency