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28 King St 1,625 sq ft 100% Let Retail Property Southwell NG25 0EN £335,000 (£206.15/sq ft) 6.90% Net Initial Yield
Investment Highlights
- Period brick-built building
- Mixed-use configuration with retail and flats
- Prime Southwell town centre position
Executive Summary
An attractive mixed-use investment opportunity comprising a ground floor retail unit together with two self-contained residential flats above. The property occupies a prominent position within Southwell's prime retail area and forms part of an attractive period brick-built building of considerable character.
The investment is fully income-producing, generating a current rental income of £23,100 per annum. Southwell is a highly regarded and affluent Nottinghamshire market town, providing a strong trading environment and consistent demand for residential accommodation.
The Property is fully let and generating a current rental income of £23,100 per annum, giving rise to a yield in the region of 6.9% at the quoting price of £335,000.
Retail - The shop is let to Gigil & Bloom at an annual rent of £11,400 pa (£950pcm) until September 2030.
28a - The one/two bedroom flat is recently let at £6,600 pa (£550 pcm)
28b - The one bedroom studio is recently let at £5,100 pa (£425 pcm)
The Property has a great track record for letting, with limited void periods.
The Property is for sale Freehold, subject to existing tenancies for £335,000.
The investment is fully income-producing, generating a current rental income of £23,100 per annum. Southwell is a highly regarded and affluent Nottinghamshire market town, providing a strong trading environment and consistent demand for residential accommodation.
The Property is fully let and generating a current rental income of £23,100 per annum, giving rise to a yield in the region of 6.9% at the quoting price of £335,000.
Retail - The shop is let to Gigil & Bloom at an annual rent of £11,400 pa (£950pcm) until September 2030.
28a - The one/two bedroom flat is recently let at £6,600 pa (£550 pcm)
28b - The one bedroom studio is recently let at £5,100 pa (£425 pcm)
The Property has a great track record for letting, with limited void periods.
The Property is for sale Freehold, subject to existing tenancies for £335,000.
Property Facts
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Shopfront Retail / Residential
Property Size
1,625 sq ft
Costar Property Class
C
Year Built
1950
Price
£335,000
Price per sq ft
£206.15
Yield
6.90%
NOI
£23,100
Occupancy Rate
100%
Tenancy
Multiple
Number of Floors
2
Plot ratio
1.87
Total Plot Size
0.02 ac
Parking
5 Spaces (3.08 Spaces per 1,000 sq ft Leased)
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Nearby Major Retailers
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28 King St
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