Investment For Sale , 202 & 204 Whitchurch Road, Shrewsbury, Shropshire, SY1 4EL
Property Type: Retail Investment
Tenure: For Sale
Space: 1,048 Sq Ft (97.36 Sq M)
For Sale: £160,000
Property Features
INVESTMENT FOR SALE
INVESTMENT OPPORTUNITY (EXISTING BUSINESS UNAFFECTED)
2 SHOPS, 6 FLATS
RETAIL/RESIDENTIAL INCOME PRODUCING INVESTMENT
9.81% NIY (PRICE - £160,000)
The property comprises of two lock up shop units on the ground floor that are currently arranged as one lock shop unit with 6 residential flats above that have all been sold off on long leases and a service delivery area. The residential flats are sold off on long leasehold tenures and each flat is liable to pay a ground rent of £75 per annum currently. The property comprises of an opportunity to acquire a commercial retail investment with additional income generated from the ground rents from the flats that are sold off on long leases.
The ground floor lock up shop unit provides two shop units, Unit 202 Whitchurch Road provides a Total Net Internal Floor Area of approximately 524 ft sq (48.68 m sq) with a toilet and Unit 202 Whitchurch Road provides a Total Net Internal Floor Area of approximately 524 ft sq (48.68 m sq) with a toilet .
The shop unit has a glazed return glazed frontage. The property is three storey and of concrete framework with brick infill panels under a flat roof cover.
Offers in the region of £160,000 (exclusive) showing a Net Initial Yield of 9.81% (after allowing for normal purchasers costs.
Location
The property is prominently located fronting onto Whitchurch Road on the edge of the sought after town of Shrewsbury. The property forms part of a neighbourhood shopping parade that is located approximately 1.5 miles north east of Shrewsbury town centre. The property is located within proximity of all local amenities. The surrounding occupiers include Wickes, Carma Salon and Paperwrite.
Whitchurch Road serves as the main arterial road into Shrewsbury town centre from the east and the north. Shrewsbury is the county town of Shropshire with a population of approximately 77,000 at the 2011 Census and is an administrative and tourist centre and located
approximately 48 miles west of Birmingham, 42 miles south of Chester and 16 miles west of Telford.