2-3 John Street, Royston

The property comprises a high yielding retail investment opportunity with a number of asset management and development opportunties (stp).

Arranged across ground, first and second floors, the Grade II Listed property comprises three ground floor retail units with associated upper parts used as storage and ancillary space.

The property is fully let to Cream, a boutique clothing retailer, on a six year lease which expired 21.06.2012 and paying £15,000 per annum. The tenant has been holding over since this date and we therefore consider this displays the tenants commitment to the location. We also consider the property offers evident asset management potential via renewal of the lease and improvement of the annual rent, which we understand has remained at this level since 2012.

We consider the property may also offer development/conversion potential to alternative uses, including residential, subject to the existing lease and any requisite consents.

The property benefits from a prominent triple frontage to John Street, a high footfall street immediately adjacent to the partially pedestrianised High Street. The area is characterised by a number of boutique and national retailers including Boots, Costa and Specsavers.