27-29 Eign Gate, Hereford

27-29 Eign Gate
Hereford
HR4 0AB

Centrally-Located, High-Yielding Investment Opportunity

Summary of features
•Frontage onto Eign Gate with access off West Street at the rear.
•Prominent and visible location.
•FRI Lease offering 10% gross yield.
•Business unaffected.


FOR SALE
£360,000

Situation - The subject premises is located in a central position on the pedestrianised Eign Gate, near its junction with Victoria Street. The property has shop frontage onto Eign Gate while at the rear there are loading and staff access points off West Street.

Within the immediate vicinity are a number of prominent occupiers such as Co-op Funeral Care, Trekitt and Tesco.

Eign Gate itself is a pedestrianised street located just outside Hereford High Town. The street itself provides a link route from popular residential areas to the west, to Hereford City Centre.

Description - 27-29 Eign Gate comprises a two-storey fully-let retail property benefitting from a large frontage onto the popular Eign Gate, as well as parking and loading facilities at the rear off the one-way street known as West Street. The property is fully let to Superdrug who occupy the ground floor as a retail area with staffroom and office facilities, and the first floor as storage associated with the retail use. Superdrug occupy under full repairing and insuring terms and it is noted that previously an area of space towards the front and the first floor was let separately to a third party with landlord’s consent.

The ground floor is accessed off Eign Gate and comprises an open-plan shopfront/retail area benefitting from large plate-glass windows. At the rear is a door leading through to a rear passageway off which can be found an office, then further along a staffroom as well as a small lift used for stock. Next to the small lift are rear double doors opening up to the loading area. A staircase off this area leads to the first floor which mainly comprises storage in the shape of one large storage room and a number of smaller individual storage areas. There are WC facilities as well as a second staircase at the front of the building leading down directly onto Eign Gate. There is, therefore, the opportunity to let the front of the first floor separately as has previously been done.