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Studio flat for sale
Freehold Retail Investment, 213 High Street, Clapham, Bedford, MK41 6AJ
£850,000
Freehold Retail Investment, 213 High Street, Clapham, Bedford, MK41 6AJ
£850,000
Our Summary
- The population is approximately 4,500, with planning permission agreed for 500 new houses and a school (no shop) half a mile north of the shop
- There is an opportunity to potentially build a further two flats above the remaining one-storey flat roof of the commercial unit, STPP
- Additionally, the two vacant flats could be consolidated into 2 X 3 bedroom HMOs to offer a greater return on investment, STPP
- 67% with potential to rise to 7
- Potential to build further flats STPP
Description
This freehold mixed-use investment property in Clapham, Bedfordshire, offers a unique opportunity to acquire a commercial convenience store, storerooms, and two high-specification two-bedroom flats above. The commercial unit is leased to an established retail business operator under the Budgens franchise, with a current rent of £31,394 per annum. The two flats are vacant and have been recently redecorated, with potential to generate an additional £30,000 per annum in gross combined rent. The property also has potential for further development, including the possibility of building two more flats above the remaining one-storey flat roof of the commercial unit, subject to planning permission. The property is being sold on a freehold basis for £850,000, reflecting an initial yield of 3.67% with potential to rise to 7.22% when the two flats are relet.