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    Luton High Street, Chatham, Chatham, ME5 7LP

    £299,950Freehold

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    Mortgage

    Estimated Monthly Mortgage Payment:
    £1,500 /mo.25 Years, 4.5% Interest
    Loan
    £269,955
    Total Repay
    £450,149

    Stamp Duty

    You’ll have to pay the stamp duty of:
    £4,998
    0% up to £125,000
    2% from £125,000 to £250,000
    5% from £250,000 to £299,950
    Your effective stamp duty rate is 1.67%

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    Luton High Street, Chatham, Chatham, ME5 7LP

    £299,950

    Key Information

    Tenure:Freehold
    Council tax band:Not available
    Broadband:up to 1800Mbps
    Mobile signal:*Based on indoor data coverage
    EEO2ThreeVodafone

    Key Features

    Ground floor commercial unit with first floor flat
    yard/parking area to side and rear
    planning permission to redevelop to create 4 dwellings
    Suitable for investment income, development or business owner
    generating £18,900 when both units most recently let (6.3% yield at asking price)

    Description

    Ground floor commercial unit with yard/parking and first floor one bedroom flat with lounge/kitchen, bathroom and bedroom. Based on the current flat rental and the most recent shop rent this would be a 6.3% rental yield at asking price. Planning permission for redevelopment to create 4 dwellings.

    Ground floor commercial unit with yard with parking and first floor one bedroom flat with independent entrance from the rear, lounge/kitchen, bathroom with corner bath with shower over and bedroom. The flat is let at £750 per calendar month and the shop had been let until recently at £825 monthly so the property was generating £18,900 per annum (6.3% rental yield at asking price).

    The commercial unit has just become vacant and it is anticipated that a higher rent may be able to achieved.

    Planning permission has been obtained to create a total of 4 residential dwellings by converting the existing shop into residential and create 2 additional dwellings on the site. The reference for the planning application is MC/23/0782.

    The illustrative image shown is a CGI of the proposed development. Please note that the images of the first floor flat date from before the start of the current tenancy (it is now occupied) and the ground floor photos date from the end of the tenancy of the last commercial tenant.

    Ground Floor Commercial Unit EPC rating E 117

    First Floor Flat EPC rating E

    Luton Primary School
    (0.22 miles)
    Good
    Number of pupils: 629
    Age Range: 4 - 11
    Chatham Grammar
    (0.3 miles)
    Good
    Number of pupils: 871
    Age Range: 11 - 18
    Byron Primary School
    (0.58 miles)
    Requires improvement
    Number of pupils: 510
    Age Range: 4 - 11
    The Victory Academy
    (0.65 miles)
    Good
    Number of pupils: 1097
    Age Range: 11 - 18
    Kingfisher Community Primary School
    (0.77 miles)
    Good
    Number of pupils: 219
    Age Range: 3 - 11
    All Saints Church of England Primary School
    (0.81 miles)
    Good
    Number of pupils: 358
    Age Range: 2 - 11
    The Robert Napier School
    (0.82 miles)
    Good
    Number of pupils: 1031
    Age Range: 11 - 18
    Phoenix Primary School
    (0.88 miles)
    Good
    Number of pupils: 267
    Age Range: 5 - 11
    Greenvale Primary School
    (0.88 miles)
    Good
    Number of pupils: 175
    Age Range: 3 - 11
    Napier Community Primary and Nursery Academy
    (0.9 miles)
    Good
    Number of pupils: 589
    Age Range: 3 - 11

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