Investment Consideration:
Gross Initial Yield: 5.48%
Rental Income: £10,140 p.a.
VAT is NOT applicable to this property
Comprises retail shop at ground floor and self-contained vacant ancillary at first, second and third floor
Upper floors benefit from separate access, from the rear providing residential development potential STTP
Situated on one of the town's main retail thoroughfares close to the junction with Leg Street, opposite British Red Cross and amongst retail occupiers such as Coral, Sports Direct, Poundland and many more.
Property Description:
Comprises retail shop at ground floor and self-contained vacant ancillary at first, second and third floor. The upper parts benefit from separate access from the rear, providing residential development potential, subject to obtaining planning. The property provides the following accommodation and dimensions:
Ground Floor: Retail Shop - 90 sq m (969 sq ft)
First Floor: 2 Rooms - 44 sq m (474 sq ft)
Second Floor: 3 Rooms - 41 sq m (445 sq ft)
Third Floor: 3 Rooms - 34 sq m (365 sq ft)
Total GIA: 209 sq m (2,253 sq ft)
Tenancy:
The ground floor shop is at present let to an Individual for a term of 5 Years from 1st November 2024 at a current rent of £10,140 p.a. and the lease contains full repairing and insuring covenants. Rent review in the 3rd year linked to RPI. Tenant option to determine in the 3rd year with minimum 6 months notice. Deposit held of £1,700. Lease within Landlord & Tenant Act 1954.
Location:
Oswestry is an established market town located approx. 35 miles west of Stoke-on-Trent and approx. 15 miles north-west of Shrewsbury benefitting from good road links via the A5/M54. The property is located on one of the town's main retail thoroughfares close to the junction with Leg Street opposite British Red Cross and amongst such multiples as Barnardo's, Coral, Sports Direct, Poundland, Hays Travel and many more.
