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Commercial in ANNONAY , Ardeche , Rhone Alps

€178,000 €167,000 £145,387**
Ref: 101219JCI07
french property for sale

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Reduction from €178,000 to €167,000
Rare investment opportunity in historic centre of Annonay, 1 hour South of Lyon, consisting of 7 apartments in the same building to be renovated, along with garages, attics and 5 cellars. Rate of return: 7% gross profitability.

Price €167 000
agency fees to be paid by the seller

Reduction from €178,000 to €167,000
Ref 101219JCI07
Town ANNONAY
link to google map MAP
Dept Ardeche
Surface 296 M2* Plot Size 0 M2
Bathroom 7 Bedrooms 9
Location
  • 0-2KM to amenities
  • Town property
Type
  • Commercial
  • Family Home
  • Holiday Home
Features
  • Business potential
  • Character property
  • Double glazing
  • Garage
  • High speed internet
  • Mains Drains
  • Private parking
Condition
  • To be renovated
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Print description
drapeau Français Voir l'annonce en français
Studio of 28m² on ground floor, sold rented out for 300 euros per month. 3 bedroom apartment on 1st floor of 85m², sold rented out for 330 euros a month. 1 bedroom apartment of 41m² and 1 bedroom apartment of 50m² on 2nd floor. 3rd floor consists of 3 x 1 bedroom apartments, 27m² rented out at 255 euros a month, 28m² and 37m². Space for 4-5 cars in large garage, rented out at 120 euros a month. Potential annual rent: 23900 euros. Renovation obligatory (planning permission included in sale). Estimated at 310 000 euros. Subsidy of 163 000 euros available. Co-ownership with 9 units. Monthly building management costs between 67 and 75 euros for all 7 apartments. East facing building, so sunny in the morning. 350m on foot from bus station ( for connections to Lyon, St Etienne, Valence).

Details of renovation work that have been budgeted:
-double glazing
-gas heating with brand new boilers
-wooden floors in bedrooms
-stone tiles on floor in wet/bath rooms
-fitted kitchen
-insulation of walls, ceilings and floors
-optical fibre internet possible
-contact details of workers and an architect available for the renovation work
-renovation of communal areas

More than 20 million euros will be invested in Annonay in the context of a wide scale property renovation operation. Badly damaged buildings will be demolished and completely renovated; green areas will be created.

Some information on Annonay:
-17 000 inhabitants and growing (+4.3% between 2015 and 2017)
-economic capital of the Ardeche area and main source of employment
-3220 companies representing 13 200 salaried workers
-8 kms/20 minutes from Peaugres Safari Park
-13 kms/20 minutes from Pilat natural regional park
-45 kms/50 minutes from Vienne, famous for its Jazz Festival and Roman amphitheatre
-50 kms/1 hour from TGV station in Valence
-75 kms/1 hour 15 from Lyon city centre
-90 kms/1 hour 20 from Lyon Saint Exupery Airport



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