Richmond retail and residential property on market for £180k
The property is located at 4 Frenchgate in Richmond and is being offered as a commercial and residential investment opportunity.
The ground floor of the building houses a shop or office space of 217 square feet, which is currently let out at a monthly rent of £400.
Above the commercial space is a “deceptively spacious” three-bedroom flat which extends to the first and second floors, according to estate agent Norman F. Brown.
This is being rented for £550 per month and, with the inclusion of the shop, the total annual rental income is £11,400.
The residential property was not without utilities and accommodations, featuring a fully fitted kitchen, bathroom, built-in electric oven and a 4-ring gas hob, amongst other things.
The commercial tenant is tied into a lease that will run until May 10, 2024, while the residential tenant has a lease until November 24, 2023.
Council tax banding for the building is A with a rateable value of £3,050.
