"Midas Lounge", 49-50 Church Street, Rugby OIEO £400,000

A freehold development site with planning permission to create five upper floor apartments and two ground floor retail units. There is also another retail unit which is currently tenanted at £6,000 PA. The current owner will sell the freehold in it's entirety or the upper floors (for residential conversion) on a long lease with a ground rent of £500 PA. Sold with no chain.

  • Freehold Site at £400,000. Upper Floors Could Be Sold On A Long Lease (125 years, ground rent £500PA)
  • Existing Retail Unit Brings In £6,000 PA
  • No Chain
  • Upper Floors Could Be Sold On A Long Lease (125 years, ground rent £500PA)
  • Predicted Values/GDV £590,000 For Upper Floor Flats
  • Retail Units ERV of circa £25K.
  • Planning References R21/0115 & R21/0088