From
£260,000
Property for saleNewland Street, Witham CM8
Auction
About this property
Fully Let Investment
Currently producing £24,600 p.a.
Prime Location
Guide Price Reflects a Gross Yield of 9.5%
Strapline
Auction Sale - 10/10/2023
High Yielding Retail Investment High Street Retail Property Producing £24,600 per annum
Description
An attractive Grade II listed mixed use building fully let comprising a ground floor retail unit with a cellar, and two self contained one bedroom flats accessed via a separate rear entrance.
Tenancy
We understand from our client that the rental income is:
Ground floor Let on a new 5 year lease from 31st July 2023 at £7,675 p.a.
First Floor - Flat 83A - Let at £750 pcm
Second Floor - Flat 83B - Let at £660 pcm
Accommodation
Please note the approximate areas have been provided by a third party and the property has not been inspected by Savills. The property is believed to comprise of the following:
Ground Floor Inc Cellar - 307 sq ft (28.5 sq m)
First Floor - Flat 83A - Bedroom, Living room, kitchen, bathroom - 464 sq ft (43.1 sq m)
Second Floor - Flat 83B - Bedroom, Living room, kitchen, bathroom - 356 sq ft (33.1 sq m)
Total Floor Area - 1,127 sq ft (104.7 sq m)
Auction Sale - 10/10/2023
High Yielding Retail Investment High Street Retail Property Producing £24,600 per annum
Description
An attractive Grade II listed mixed use building fully let comprising a ground floor retail unit with a cellar, and two self contained one bedroom flats accessed via a separate rear entrance.
Tenancy
We understand from our client that the rental income is:
Ground floor Let on a new 5 year lease from 31st July 2023 at £7,675 p.a.
First Floor - Flat 83A - Let at £750 pcm
Second Floor - Flat 83B - Let at £660 pcm
Accommodation
Please note the approximate areas have been provided by a third party and the property has not been inspected by Savills. The property is believed to comprise of the following:
Ground Floor Inc Cellar - 307 sq ft (28.5 sq m)
First Floor - Flat 83A - Bedroom, Living room, kitchen, bathroom - 464 sq ft (43.1 sq m)
Second Floor - Flat 83B - Bedroom, Living room, kitchen, bathroom - 356 sq ft (33.1 sq m)
Total Floor Area - 1,127 sq ft (104.7 sq m)
Mortgage calculator
Monthly repayment
£1,300 per month
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