7A Newtown Rd 500 sq ft 100% Let Retail Property Bishop's Stortford CM23 3SA £145,000 (£290/sq ft) 8.98% Net Initial Yield

Investment Consideration:
VAT is NOT applicable to this property
Comprises Grocery Store at ground floor, with 1 flat above which has been sold-off
Situated just off the prime shopping area of South Street, with occupiers nearby including Tesco Express, Pub, Restaurants, Café, M&S Foodhall and many more.
Property Description:
Comprises ground floor shop t/a Grocery Store. The property includes residential flat above (sold-off), providing the following accommodation and dimensions:
Ground Floor: 27 sq m (290 sq ft)
Open plan retail, storage, wc
First/Second Floor: Residential Flat (sold-off)
Tenancy:
Ground floor shop is at present let to an Individual for a term of 5 years from 29th August 2024 at a current rent of £13,000 p.a. and the lease contains full repairing and insuring covenants. Deposit held of £3,250.
Flat No.3A has been sold-off on long leasehold From 19th August 1983 to 26th January 2114 at ground rent of £25 p.a. with approx. 88 years unexpired.
Location:
The premises are situated within Bishop`s Stortford, a market town in Hertfordshire, with a population of approximately 41,000 people. Bishop’s Stortford is a rapidly expanding market town with a new development of 3,000 new homes underway. Bishop`s Stortford is situated north of London on the M11 corridor, with excellent links by both road and rail, providing a 37 min travel time to London Liverpool Street station. Stansted Airport is three miles north east of the town, providing both national and European transport links. The premises benefit from good footfall as it is on the doorstep of the town centre, just a three-minute walk to the train station. The wider surrounding area is mixed, comprising retail and other commercial uses, offices, residential and retirement accommodation. The premises are situated just off the prime shopping area of South Street and close to the shopping centre of Jackson Square. There is excellent vehicular and pedestrian flow along Newtown Road/South Street. There is short-term use parking spaces directly outside the units, approx. 30mins-1hour