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16 bed flat
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Price History
Our Summary
- Pair of Adjoining Shop with residential upper parts offering immediate income (£139k pa), reflecting a 10% yield and tangible scope to increase value through asset management
- - Pair of Adjoining Shop with residential upper parts offering immediate income (£139k pa), reflecting a 10% yield and tangible scope to increase value through asset management - 29 & 29a (recent development, completed 3-4 years ago): Ground floor shop let to Crystals UK Ltd on a 6-year lease from Sept 2022 at £12,000 pa (tenant break passed) - The residential comprises a 10-bed (7 bath) HMO with roof terrace and patio, fully let to students from Sept 202 £75,000 pa (single lease) with parental guarantors
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Description
The property consists of four adjoining units: 29 and 29a, and 31 and 31a. The ground floor shops are each let on a 6-year lease, with 29 let to Crystals UK Ltd at £12,000 per annum and 31 let to a barbers shop at £12,000 per annum, with an expectation of increasing to £15,000 per annum on renewal. The residential upper parts are a 10-bedroom HMO at 29 (producing £75,000 per annum) and a 6-bedroom HMO at 31 (producing £40,000 per annum), both fully let to students.
Additional income-generating opportunities exist, including the potential to add two shower rooms at 31a without reducing bedroom numbers. The property is freehold, with a combined total income of £139,000 per annum.