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21 Station St 403 sq ft 100% Let Retail Property Spalding PE11 1EB £175,000 (£434.24/sq ft) 5.77% Net Initial Yield
Investment Highlights
- Vacant ground-floor retail/office accommodation
- EPC ratings stated as D and C
- Two upper-floor bedsit flats, both currently let
- Separate access from Station Street for the flats
- Public car parks within a short walking distance
- Separate utility supplies for the ground and upper parts
Executive Summary
Freehold mixed-use investment offered for sale as a whole via online auction, with fees applying. The property comprises a vacant ground-floor retail/office unit with rear storage and ancillary accommodation, plus two separately accessed bedsit flats on the first and second floors. Both flats are currently let, producing combined passing rent of £842 per month. The sale is subject to the existing residential tenancy agreements, and viewing is strictly by appointment.
Property Facts
Sale Type
Investment
Sale Condition
Auction Sale
Property Type
Retail
Tenure
Freehold
Property Subtype
Shopfront Retail / Residential
Property Size
403 sq ft
Costar Property Class
C
Year Built
1900
Price
£175,000
Price per sq ft
£434.24
Yield
5.77%
NOI
£10,104
Occupancy Rate
100%
Number of Floors
3
Plot ratio
0.33
Total Plot Size
0.03 ac
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Nearby Major Retailers
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21 Station St
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