Property Description

This freehold development located in Stafford comprises of a retail unit which is let out to a Pharmacy with 3 1/2 years remaining of a 5 year tenancy agreement, returning £17,000 per annum increasing to £17,500 on 1st December 2021 and a further £500 on each 1st December. On the first floor are two x self contained 2 bedroomed flats, both let and producing £5,940 per annum making a total return of circa £29,000, giving an attractive yield of over 11% at the current guide price. Excellent mixed use investment opportunity. The auctioneers have not inspected the property but believe it to comprise:

Ground Floor:

Shop with associated stores, consulting room, kitchenette and staff toilet. The current shop tenant has been in situ since 2004 and has renewed on a five yearly basis. The shop is approx. 2,167 sq. ft.

First Floor

Two x Two bedroom self-contained flats let at £495 pcm each. Both flats are accessed via their own private door to the front of the building. Both flats comprise of an entrance hallway, two double bedrooms, living room, kitchen and shower room. Both have full gas central heating and double glazing and we are informed they have had brand new combi boilers fitted, one in 2018 and one in 2019.

Basement:

Large basement area (not included in any lease) which could provide a useful storage facility to the purchsaer.

Outside:

Garage and parking space for one vehicle to the rear, forming part of the lease to the chemist.

Occupancy:

Subject to tenancies.

Tenure

Freehold

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