27A Bridge St 818 sq ft Retail Property Witham CM8 1BU £175,000 (£213.94/sq ft) 8.57% Net Initial Yield

Investment Consideration:
Gross Initial Yield: 8.57%
Rental Income: £15,000 p.a.
VAT is NOT applicable to this property
Comprises two-storey retail premises t/a office
Occupies a prominent position on the south side of Bridge Street, the town`s principal through road. Occupiers nearby include Lidl, Motorbike Dealer, Solicitor`s, Takeaway and many more.
Property Description:
Comprises two-storey premises arranged as a ground floor retail with ancillary at first floor, providing the following accommodation and dimensions:
Ground Floor: Open plan retail, office, storage, wc
First Floor: Two rooms with kitchenette
Total GIA: 76 sq m (818 sq ft)
Tenancy:
The property is at present let to Brink Riley Properties Ltd (with personal guarantee) for a term of 5 years from 19th February 2026 at a current rent of £15,000 p.a. and the lease contains full repairing and insuring covenants. Rent review on 19.02.29 linked to RPI. Tenant option to determine on 19.02.29 with min 6 months notice. Deposit held of £3,750.
Location:
Witham is situated adjacent to the A12 providing access to the M25 (around 30 minutes drive to the south-west). Colchester is approximately 14 miles to the northeast, Chelmsford approximately 10 miles to the south-west. Stansted Airport is approximately 23 miles to the north west. The property occupies a prominent position on the south side of Bridge Street, the town`s principal through road. Occupiers nearby include Lidl, Motorbike Dealer, Solicitor`s, Takeaway and many more.