119-121 Main Rd 3,583 sq ft Retail Property Crewe CW2 5DP £1,550,000 (£432.60/sq ft) 6.74% Net Initial Yield

Opportunity to acquire this residential investment opportunity. The comprises a two storey detached postwar premises of traditional brick construction with
multi pitched roof clad in tiles and was most recently used as a Coop Convenience Store. Predominately open plan with ancillary former staff room, kitchen and toilets. The first floor is partitioned into a number of storerooms accessed via a staircase. The property benefits from planning permission granted in September 2022 and will be converted to provide seven supported-living apartments under Use Class C2(a).
Currently held freehold under Title No: CH340408, the asset will be secured by a 20-year overriding FR&I lease to Hilldale Housing Association at an annual rent of £110,936.28. The lease is supported by a Commissioner’s Letter from Cheshire East Council and includes CPI-linked annual rent reviews. Located three miles south of Crewe town center and in proximity to the A500 by-pass with easy access to Junction 16 of the M6 motorway, the property offers exceptional connectivity .
Available at the guide price of £1,550,000.00