Two-bedroom flat and shop investment

Freehold investment comprising a shop and two-bedroom flat with a gross yield of 8.7 percent. Located within an established local parade which includes a Co-op Food and William Hill serving the surrounding residential area, approximately 1.5 miles from Horsham Town Centre. Horsham is an attractive commercial centre located on the main A24 midway between Guildford and Brighton, approximately 7 miles south-west of Crawley, with excellent road links via the A264 to the M23 at Junction 11. The property is a mid-terraced building comprising a ground floor shop with separate rear access to a self-contained flat on the first floor. In addition, there is front layby parking for customers, a loading area, and a communal car park at the rear. The ground floor shop features a gross frontage of 17'6", an internal width of 16'6" max, a shop depth of 49'0", and a WC. The first floor flat comprises two bedrooms, a living room, a kitchen, and a bathroom/WC. The entire property is let on a full repairing and insuring lease to D. Patel as a newsagent/post office for a term of 15 years from 15th June 2020 at a current rent of 24,000 pounds per annum exclusive, rising to 24,500 pounds per annum in June 2027 and 25,000 pounds per annum in June 2028, with a rent review in 2030. A 9,500 pounds rent deposit is held. VAT is not applicable to this lot.