- Rare investment opportunity in the heart of Widnes.
- Large ground floor retail unit with existing tenant and potential for owner to agree a lease back on sale.
- Prominent corner position
- Significant rental growth potential
- Additional income is received from letting out offices on the first floor.
- Potential for upper floor conversion to 2 X 2 bed flats (subject to planning).
- Large car park to rear with potential for redevelopment (subject to planning).
HIGH YIELDING COMMERCIAL INVESTMENT FOR SALE- GROUND RETAIL WITH OFFICES ABOVE & LAND TO REAR. POTENTIAL FOR RESIDENTIAL DEVELOPMENT STP
Description & Specification
The property comprises a two storey commercial building with the ground floor occupied by the vendor, Widnes Bathroom and Kitchens and The Property Shop. The Property shop pay a rent of £433 per calendar month ( £5196 per annum.) We estimate the true rental value to be in the region of £750 per calendar month (£9,000 per annum)
Widnes Bathroom and Kitchens will consider a initial leaseback arrangement for terms to be discussed at a rent of £1250 per calendar month (£15,000 per annum).
The upper storey is accessed via a separate entrance opening into a stair well leading up to a variety of rooms which re let as offices and a snooker club on a informal arrangement. It is not fully let, currently producing £400 per calendar month with an estimated rental value of c£600 per calendar month (£7,200 per annum)
Therefore in current guise the total income is say £25,000 with potential future growth in the region of £31,200pa.
The upper floors have further potential to be converted into residential use STP. Assuming 2 X 2 bed flats at an estimated £500 per calendar month each (£12,000 pa) which would produce an estimated future rental value in the region of £36,000pa overall after development.
There is a large car park to the rear that could potentially offer a development plot STP.
Approximate area of 4,322 sq. ft over 2 floors.
All costs quoted are for indicative purposes only and all all interested parties should rely on their own enquiries with the local authority.
All prices, outgoings and rentals quoted are exclusive of VAT, but may be liable at prevailing rate. Further information on request.
Unless otherwise stated all parties to bear their own legal costs.
Energy performance certificate is available on request.