The Parade, Caterways, Horsham

INVESTMENT BUY TO LET OPPORTUNITY; retail premises and apartment, both fully let. Attractive mixed use commercial rate of stamp duty to any prospective landlords, potentially saving circa £18,000 of stamp duty when compared to a residential buy to let, making an excellent return of £28,500 p.a, an 8.1 to 8.8% return, with scope to rent the garage out to further increase the yield. This is an excellent opportunity to maximise your investment return.

Offers between £325,000 to £350,000.

- Retail unit, class E - currently let
- Residential unit - currently let
- Garage
- COMMERCIAL RATE OF STAMP DUTY - EXCELLENT RETURNS

Retail unit: Let on a 10 year full repairing lease, with a 5 year break and rent review provision, from 2023 of £12,000 p.a. to a popular beauty saloon in a parade of shops serving the affluent Merryfield Drive, Horsham, market. Customer parking is provided.

Residential property: Fully updated 2 bedroom, with loft room, maisonette and let on a £16,500 p.a. rent to a financially and professionally qualified tenant. The maisonette comprises of kitchen, living room, bathroom and loft room and is accessed via communal balcony. The retail unit owns the lease for the maisonette and whilst there are 57 years on the lease, the owner would be able to grant themselves a lease extension of their choosing.

Garage: Single garage which could be used privately or further let to maximise yield.

LOCATION: The Caterways shops are located on Merryfield Drive, just a stones throw away from Horsham town centre, a thriving historic market town with an excellent selection of national and independent retailers including a large John Lewis and Waitrose store. There are twice weekly award winning local markets in the Carfax in the centre of Horsham featuring local produce, or head to East Street, or `Eat Street` as it is known locally, where there is a wide choice of restaurants ranging from large chains such as Nando`s & Wagamama to the small independents such as La Piazzetta.

There is ample choice when it comes to activities, and in particular The Pavilions In The Park offers a comprehensive leisure centre with its gym and swimming pools set in Horsham Park. Enjoy a variety of entertainment at The Capitol Arts Centre and Everyman Cinema.

There are some beautiful walks and cycle rides in the immediate countryside just a few minutes walk, despite its central location. Further afield, the stunning South Downs and coast are within easy reach. For those needing to commute, Horsham Station is a short stroll away, with a direct line to Gatwick (17 minutes) and London Victoria (52 minutes) and there is easy access to the A 24 and M23 leading to the M25.

DISCLAIMER: The internal staircase leading to the loft room has been approved by building regulations; however, it is particularly steep. Prospective tenants should be aware that it may not be suitable for young children.

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Notice
Agents note: We are pleased to offer our customers a range of additional services to help them with moving home. None of these services are obligatory and you are free to use service providers of your choice. Current regulations require all estate agents to inform their customers of the fees they earn for recommending third party services. If you choose to use a service provider recommended by At Home Estate and Lettings Agency, details of all referral fees will be provided by ourselves and the provider. If you decide to use any of our services, please be assured that this will not increase the fees you pay to our service providers, which remain as quoted directly to you.

Please note we have not tested any apparatus, fixtures, fittings, or services. Interested parties must undertake their own investigation into the working order of these items. All measurements are approximate and photographs provided for guidance only.

All information is provided in good faith and is intended as a general guide only. We will inform buyers of any planning, building regulation matters, tenure details, service charges, management fees, restrictions, covenants or easements that have been disclosed to us. Buyers are advised to carry out their own due diligence and obtain independent legal and professional advice. The agent cannot be held responsible for any information that has not been provided to us or for any errors or omissions.