29-31 Westgate Street, Gloucester GL1

- Pair of Adjoining Shop with residential upper parts offering immediate income (£139k pa),
reflecting a 11% yield and tangible scope to increase value through asset management
- 29 & 29a (recent development, completed 3–4 years ago): Ground floor shop let to Crystals UK Ltd on a 6-year lease from Sept 2022 at £12,000 pa (tenant break passed)
- The residential comprises a 10-bed (7 bath) HMO with roof terrace and patio, fully let to
students from Sept 2025 £75,000 pa (single lease) with parental guarantors. Landlord pays
utilities (capped £1k pcm, est. c. £6k pa)
- 29 combined income is £87,000 PA
- 31 & 31a (Grade II listed): Ground floor shop let to a barbers from Sept 2023 at £12,000 pa,
expected to rise to £15,000 p.a on renewal, with a 6-month rent deposit held
- The residential comprises a 6-bed (2-bath) HMO producing £40,000 pa, with landlord paying utilities.
- 31 combined income is £52,000 PA rising to c. £55,000 PA
- Consents in place at 31a to add two additional shower rooms with WCs without reducing bedroom numbers; lounge upgraded with bi-fold doors.
- Total Combined income for both buildings is £139,000 per annum
- Freehold