* High yielding mixed use investment opportunity
* Income of £40, 417 per annum
* £360, 000 asking price / 11. 23% yield
* 6 apartments & A shop
* 3 apartments let to mears group on 5 year leases
For sale - high yielding reversionary investment
High yielding and reversionary mixed - use investment comprising a retail unit
and six apartments generating £40, 417 per annum exclusive.
\ - Self - contained one bedroom apartments
\ - 3 x apartments let to Mears Group plc (national social housing provider) on
5 year internal repairing leases at £472. 70 pcm until March/April 2028
\ - 3 x apartments let on 6 month ASTs at £400 pcm
\ - Scope to increase residential income further & lease more apartments to
Mears Group plc
\ - Redeveloped in 2022
\ - Quality, modern apartments finished to a good standard
\ - Retail unit let on a new 5 year lease at £9, 000 per annum with a 3 year rpi
review (uncapped)
\ - Ideal for private investors
\ - Potential to increase rent to £43, 032 per annum
\ - Secure 5 year income via Mears Group with limited landlord liabilities
\ - Further development potential via converting the rear of the retail unit
Offers in excess of £360, 000 reflecting a gross yield of 11. 23% and a
reversionary yield of 11. 95% (assuming all apartments were leased to Mears at
£472. 70 pcm).
**Contact**
Tel: / Email:
**Location**
The property is located on Barnsley Road in Hemsworth, near to the junction of
Cross Hill and Market Street, the latter home to the towns Tesco Superstore.
Adjacent to the property is Home Bargains and close by is Hemsworth Post
Office, making local amenities and public transport options only a short walk
away.
The property is located within the heart of Hemsworth, the immediate area is a
mixed use area.
Hemsworth is a town in the City of Wakefield, which is located approximately 9
miles to the north west, Barnsley is located 8 miles to the south west, and
Pontefract 7 miles to the north via the A628.
**Description**
Mixed use investment comprising 6 modern, self contained apartments let on
ASTs and a retail unit, extending to 3, 024 Sq Ft gia.
Apartments x 6
\ - Each apartment is self contained
\ - Modern fixtures and fittings
\ - Converted to a high standard
\ - Furnished
\ - Located on the first and second floors
\ - Refurbished in 2022
\ - Off road parking to the rear for 4 - 5 vehicles
Retail Unit
\ - Benefits from salon fixtues and fittings
\ - Attractive décor
\ - Kitchenette and W/C facilities
\ - Security roller shutters
\ - Suit a range of business/retail uses
\ - Provides the investor to secure a tenancy on their own terms and benefit
from the 6 month rent guarantee.
**Development potential**
There is scope (STP) for further development by splitting the retail unit to
create a self contained apartment of circa 500 sq ft to the rear.
**Tenancy information**
3 x apartments are all let on 6 - month AST agreements at £400pcm.
3 x apartments are let on new 5 year leases to mears Housing Association at
£472. 70 pcm. Leases are from March/April 2023 until 2028
Total residential rent is £31, 417 per annum.
Retail unit let on a 5 year new lease at £9, 000 per annum with a 3 year rpi
review (uncapped).
The total rent is £40, 417 per annum exclusive.
We understand the landlord has been approached by Mears Group to rent the
other 3 apartments on 5 year leases at £472. 70 pcm, as and when they become
available. This would increase the rent roll and reduce landlord's repair
liabilities. The residential rent could increase to £34, 034. 40 per annum
exclusive for the residential element, and £43, 034. 40 per annum exclusive
overall.
This would provide the owner with secure income, with limited landlord
liabilities.
Further information is available upon request.
**Investment proposal**
We are inviting offers in excess of £360, 000 which reflects a gross yield of
11. 23%.
Potential reversionary yield of 11. 95% assuming a letting at £470. 70 pcm for
each of the apartments.
**EPC**
Ranging from C to E - available upon request.
**Services**
Mains electric and water are connected . Electric is separately metered
throughout.
**Anti money laundering**
The purchaser is required to comply with Anti Money Laundering Regulations.
**VAT**
There is no VAT payable.
**Viewings**
By appointment with the sole agent.
**Contact**
Tel: / Email:

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