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2 bedroom commercial property for sale

West Street, LEOMINSTER, Leominster, Herefordshire

Offers in Region of £245,000
1,700 sq. ft.

Property Description

Commercial information

  • 1,700 sq ft (157 sq m)

Key features

  • 800 sq ft Shop
  • Two One Bed Flats
  • Prominent corner position
  • 14,200 per annum
  • 6.5% Gross Return
  • Investment Potential

Full description

A freehold mixed premises comprising shop and retail area of approx. 800 sq ft, along with two independently accessed first floor one bedroom flats.

Introduction - The property would make an ideal investment purchase, currently generating around £14,200 per annum; a gross return of around 6% on investment. The popular market town of Leominster boasts a wealth of local shops, a weekly open air market, national supermarkets and a host of recreational facilities. Transport facilities are ample with good road links to larger towns and regular bus and train routes. Hereford City is located approximately 12 miles away and offers extensive entertainment and leisure facilities and a wide range of national and chain stores.

The Premises - The property on West Street is prominently located and comprises: excellent retail space with double window frontage; together with two independently accessed one bedroom flats offering an excellent investment opportunity.

Shop - 86800 sq ft (284777'1" sq ft) - With door and double display window on to West Street / Rainbow Street. The shop has a large retail area which is divided in two by steps, and rear staff area with kitchenette / store and WC. Current rental: £5,000 per annum, leased until June 2016.

Flat One - 438 sq ft (1437'0" sq ft) - Fully refurbished to a high standard with modern finish and brand new kitchen. With internal stair access, door in to lobby, bedroom, bathroom with power shower, open plan living area with newly fitted kitchenette and reception area. Modern electric heating and domestic hot water system. Current rental: £400 per calendar month (£4,800 p/a).

Flat Two - With internal stair access, door in to lobby, bedroom, bathroom, open plan living area with newly fitted kitchenette and reception area. Current rental: £365 per calendar month (£4,380 p/a).

External Features - A small ground floor private lobby services the two flats, and on-street parking is available nearby, with permits also available for nearby car parks.

Services - All mains services are connected to the property.

Investment Potential - The premises when fully let returns around £14,200 per annum, offering an investor around 6.5% gross return on investment.

CONSUMER PROTECTION FROM UNFAIR TRADING REGULATIONS 2008 (CPR) We endeavour to ensure that the details contained in our brochure are correct through making detailed enquiries of the owner but they are not guaranteed. The agents have not tested any appliance, equipment, fixture, fitting or service and have not seen the title deeds to confirm tenure. All measurements are quoted to the nearest 1/10 metre. All liability in negligence of otherwise for any loss arising from the use of these particulars is hereby excluded.
MONEY LAUNDERING REGULATIONS Require prospective purchasers to produce two original ID documents prior to any offer being accepted by the owners.
* Rightmove Intel - HR1, HR2, HR3, HR4, HR5,HR6, SY7, SY8 LD7, LD8

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