Investment Consideration:
Rental Income: £33, 216. 48 p. a.
Total erv: £43, 215 p. a. Giy: 10. 80%
VAT is not applicable to this property
Comprises vacant ground floor retail shop and 6 self - contained studios/flats
at first and second floor
Development potential to convert ground floor retail shop into additional
flats, subject to obtaining planning
Mears Limited has indicated interest to have guaranteed rent lease for
remaining flats (Flat 1, Flat 4 and Flat 6)
Situated within short walk from Tesco Superstore, Home Bargains, Post Office,
Domino`s Pizza and more.
Property Description:
Semi - detached building comprising vacant* retail premises at ground floor
(previously t/a hair salon) and 6 self - contained studios/flats at first and
second floor. The building benefits from parking at rear and provides the
following accommodation and dimensions:
Ground Floor Retail: 100 sq m (1, 076 sq ft)
Open plan retail, storage, kitchen, wc
Firs Floor:
Flat 1: 24 sq m (258 sq ft)
Flat 2: 24 sq m (258 sq ft)
Flat 3: 20 sq m (215 sq ft)
Flat 4: 23 sq m (247 sq ft)
Second Floor:
Flat 5: 22 sq m (237 sq ft)
Flat 6: 21 sq m (226 sq ft)
Total area size: 234 sq m (2, 517 sq ft)
*Permitted development potential to convert ground floor retail shop into additional studios/flats, subject to obtaining the necessary consents.
Tenancy:
The retail shop is at present vacant. Erv: £10, 000 p. a.
Flat 1 is at present let on AST to an Individual for a term of 6 Months from
24th November 2022 at a current rent of £4, 800 p. a. Deposit held of £400.
Flat 2 is at present let on Lease to Mears Limited for a term of 5 Years from
26th April 2023 at a current rent of £5, 672. 16 p. a. Rent review linked to cpih
on 31st March of every year of the Term. No breaks.
Flat 3 is at present let on Lease to Mears Limited for a term of 5 Years from
24th March 2023 at a current rent of £5, 672. 16 p. a. Rent review linked to cpih
on 31st March of every year of the Term. No breaks.
Flat 4 is at present let on AST to an Individual for a term of 6 Months from
31st October 2023 at a current rent of £5, 700 p. a. Deposit held of £250.
Flat 5 is at present let on Lease to Mears Limited for a term of 5 Years from
24th March 2023 at a current rent of £5, 672. 16 p. a. Rent review linked to cpih
on 31st March of every year of the Term. No breaks.
Flat 6 is at present let on AST to an Individual for a term of 6 Months from
14th November 2023 at a current rent of £5, 700 p. a.
Location:
Hemsworth is a town and civil parish within the City of Wakefield in West
Yorkshire. In the 2011 Census it had a population of 13, 533. The town sits
close to Barnsley, Pontefract, Wakefield and Doncaster. The property is
situated in the town centre within short walk from local amenities and retail
occupiers such as Tesco Superstore, Home Bargains, Post Office, Domino`s
Pizza, Hemsworth Library and many more.

Property location on the map: Use mouse double click to (Zoom IN: LEFT button; Zoom OUT: RIGHT button)

Similar properties: