>
Studio apartment for sale
68a Bridge Street, Worksop, Nottinghamshire, S80 1JA
£365,000
68a Bridge Street, Worksop, Nottinghamshire, S80 1JA
£365,000
Our Summary
- FOR SALE - MIXED USE INVESTMENT OPPORTUNITY COMPRISING 5 FLATS AND A SHOP - FULLY LETINVESTMENT SUMMARY Mixed use premises comprising a ground floor retail unit let on a long lease with 5 individual one bed flats on the upper floors, fully let generating £37,404 per annum
- - Lots of potential for rental growth- Average monthly rent per flat of £415 with considerable scope for rental growth to £600 pcm per flat - Potential total rent of £47,000 per annum exclusive - Ground floor let to a local barber on FRI basis at £11,004 pax for a term of 7-years & a rent review at year 3
- - Spacious, good quality and well-maintained investment opportunity- Access to off street parking to the rear - Asking price is £365,000 reflecting an initial yield of 10
- This provides an excellent opportunity for an investor to benefit from a high yielding return with potential for further rental growth
- FOR SALE - MIXED USE INVESTMENT OPPORTUNITY (5 FLATS & 1 SHOP)
- POTENTIAL TOTAL RENT OF £47,000 PER ANNUM EXCLUSIVE
- SPACIOUS, GOOD QUALITY AND WELL-MAINTAINED INVESTMENT OPPORTUNITY
Description
This mixed-use investment opportunity in Worksop, Nottinghamshire, comprises a ground floor retail unit and five one-bedroom flats on the upper floors. The property is fully let, generating £37,404 per annum, with the retail unit let to a barber on a 7-year lease and the flats let on 12-month Assured Shorthold Tenancy agreements. The average monthly rent per flat is £415, with significant scope for rental growth to £600 pcm per flat, potentially increasing the total rent to £47,000 per annum. The property is well-maintained and has off-street parking to the rear. With a guide price of £365,000, the property offers an initial yield of 10.25% and a reversionary yield of 12.89%. The location is prime, with nearby occupiers including Superdrug, Halifax, and Greggs, and the town is benefitting from a £17.9m investment as part of the Levelling Up fund.