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Agent's details

13 Castle Gates, SY1

For sale: £375,000.00|3,794 Sq Ft|Other, Mixed Use, Residential, Other Property Types & Opportunities

Property details

FOR SALE£375,000.00
SIZE3,794 Sq Ft
ADDRESS13 Castle Gates, Shrewsbury, SY1 2AB
TYPEOther, Mixed Use, Residential, Other Property Types & Opportunities
TENUREInvestment Opportunity, Under Offer, For Sale Freehold
POSTED ON8th April 2024

Description

Key Points

  • Mixed commercial and residential investment
  • Existing businesses unaffected
  • Comprises two shops and four flats
  • Mixed use investment
  • Potential Initial Yield of 9% after allowing for normal purchasers costs
  • Comprises 3 two bedroomed residential flats and 1 one bedroom flat
  • Summary

    Mixed commercial and residential investment (existing businesses unaffected) offering a Potential Initial Yield of 9%

    Description

    The property comprises of a prominently located part four, part three and part single storey end of terraced property that is arranged as two lock up shop units and four residential flats.

    The property is income producing on the ground floor currently trading as Iron and Fire Coffee (coffee shop) and Tap and Can (licenced premises). The existing businesses are unaffected by the sale.

    The remainder of the property is arranged to provide 4 residential flats that are accessed via a self contained ground floor entrance over the upper floors of the property. The flats are vacant and can be let out to generate further income. The flats provide 3 two bedroomed residential flats and 1 one bedroom flat.

    The property is understood to be a Grade 2 listed building. The property is of traditional brick construction with a slate roof and rendering to the upper parts of the property.

    Unit 1, 13 Castle Gates trading as Tap and Can is arranged to provide a ground floor lock up shop unit that has a seating area and welfare facilities with a Total Net Internal Floor Area of approximately 1,067 ft sq (99.11 m sq). Unit 2, 13 Castle Gates trading as Iron and Fire Coffee is arranged to provide a ground floor lock up shop unit that is arranged to provide sales, preparation area and a toilet with a Net Internal Floor Area of approximately 334 sq ft (31.03 m sq).

    Potential Initial Yield 9% after allowing for normal purchasers costs.

    The potential of the property can only be fully appreciated by undertaking an internal inspection.

    Location

    The property is located fronting onto Castle Gates within the town centre of the sought after town of Shrewsbury. Castle Gates serves as a main arterial route within the town centre of Shrewsbury.

    The property is located in area of mixed development with the surrounding occupiers include The Bulls Head, the Bingo Hall and Piccolino Pizzas. The property is situated directly opposite Shrewsbury station and in close proximity to Shrewsbury Castle.

    Shrewsbury is the County Town of Shropshire and has a significant catchment population as well as acting as an administrative and tourist centre. The town is sat on the River Severn and had a population of 76,782 at the 2021 census.

    The town is located approximately 48 miles west of the City of Birmingham and approximately 40 miles south of the City of Chester. There is access to the national road network via the A5 (M54 link road).

    Location

    marker
    Location: 13 Castle Gates, Shrewsbury, SY1 2AB

    Shrewsbury (0.0 miles)

    Yorton (6.8 miles)

    Wellington (Shropshire) (9.8 miles)

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