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Market Street, Wem, Shrewsbury 7 bed house for sale
Market Street, Wem, Shrewsbury
£385,000
Market Street, Wem, Shrewsbury
£385,000
Our Summary
- However, most tenants have been long standing, and the individual rents have scope to be increased to be in line with market value, which is likely to produce a potential yield of circa 7%
Description
This beautifully renovated former chapel in a popular market town has been converted into four thoughtfully designed apartments across two floors, retaining many original features. The apartments are currently let on assured shorthold tenancies, generating a rental income of £24,720 per annum, with a potential yield of circa 6.4%. Each apartment has its own private inner hallway, kitchen, and living/dining area, with some featuring private rear courtyard gardens or open plan living spaces. The property benefits from mains water, electricity, and drainage, as well as electric heating. The current owner has an agreement with the conservative club across the road, allowing each apartment to have its own parking space, which could be transferred to the next buyer. With potential to increase individual rents to match market value, the yield could increase to circa 7%. The property is located in the heart of the town, just a short walk from amenities and the train station, providing easy access to Shrewsbury and Crewe.