13 College St 711 SF Retail Building Burnham On Sea TA8 1AR $333,671 ($469.30/SF)

A mid-terrace mixed-use property arranged over three floors, offering a combination of commercial and residential accommodation. The ground floor is currently let and arranged as a takeaway restaurant, comprising a customer sales area, kitchen, storage space and WC facilities. The upper floors, accessed separately from the rear, provide residential accommodation which has previously been let under an Assured Shorthold Tenancy but will be sold with vacant possession. Asking price is £275,000 for the freehold.
The first floor provides a communal sitting room and kitchen, two double bedrooms and a shower room, while the second floor offers three further bedrooms and an additional shower room. Each bedroom is equipped with its own electric key meter, allowing for individual energy control and billing. The property has previously operated as an HMO; however, any former HMO licence was held by the individual owner rather than being attached to the property itself.
Commercial Accommodation: Sales Area – 501 sq ft Kitchen – 157 sq ft Store – 53 sq ft Total – 711 sq ft Commercial Lease: The ground floor lease is drawn outside the 1954 Landlord and Tenant Act on an internal repairing basis, subject to a schedule of condition with insurance rent payable.
The passing rent is £11,500 per annum, assuming no rent reviews have been implemented. The term commenced 16 October 2020 for 15 years, with a tenant break option at the fifth anniversary and rent reviews every three years. The permitted use is Class E – takeaway/restaurant. The current rent reflects approximately £16.17 per sq ft overall or £25.11 per sq ft ITZA.