Retail premises for sale in Albion Hill, Oswestry SY11

Guide price £265,000 (£196.44/sq. ft)
Retail premises for sale 1,349 sq. ft*
Interested in this property? Call +44 1691 721953 * or Request Details

* Calls to this number will be recorded for quality, compliance and training purposes.

Property description

Investment

location


Oswestry, Shropshire’s third largest town, with a former Borough population of approximately 33,0000, and town population of approximately 17,500, has a wealth of character and facilities to offer. These premises are situated in a commanding position at The Bailey Head, surrounded by a range of retail and other commercial business, and at the site of the town’s weekly outdoor market.

Description, tenancies and rental income

A period building with solid brick walls, pitched slated roof, which was subject to scheme of works when purchased by the vendor in 2008/09. It is understood that the upper floors have been substantially refurbished and with improvements made, in full compliance with statutory regulations regarding letting for either offices or residential use. We understand that the staircase has been fire risk assessed and fire protected to comply with residential users.

Interested parties should obtain their own advice as to the extent of compliance prior to committing.

Services

The property is connected to mains water, gas, electricity and drainage.

Accommodation and Tenancy Schedule

Address Floor Area Rent Passing and Potential Comments

Cellar
Ground

370 sq.ft. Nia
Disabled WC
Vacant. However, prospective purchasers should note that the cellar, ground and first floors are currently let to a national Charity at a rent of £15,000 p.a., from 1st August 2020 on a 5 year Fri lease, subject to a 3 year (rpi linked) rent review. The tenant wishes to surrender, allowing vacant possession.
First Floor 298 sq.ft. Nia inc. Kitchen. WC See above statement – Cellar and Ground.
Second 360 sq.ft. Nia inc. Kitchen. WC with wash basin £3,000 p.a.

(If residential - £5,100 p.a. - 2) Let to Custom Whisperer Ltd., from 1st August 2020 to 31st July 2021, on an internal repairing and insuring lease.
Third 321 sq.ft. Nia inc. Kitchen, WC, shower room with wash basin. £3,000 p.a.

(If residential - £4,800 p.a. - 2) Let to a sole trader from December 2020 until December 2021 on an internal repairing and insuring lease.

1. Our floor areas are measured on an approximate net internal area (nia) basis which excludes essential access areas and WCs/showers.
2. The rentals on the residential basis are estimates of market rent. Interested parties should form their own judgements.


Pricing


For the freehold interest, subject to the tenancies in situ, a price of £265,0900 is asked, which on rentals produce gross yields of 7.8% (current income) and 9.4% (possible income). If Livability were to discontinue their lease, then the rental yield from the firs floor might increase if used for residential.


VAT


The building is not elected for VAT.


EPC ratings


EPCs have been commissioned and will be available shortly.


Viewing


Please contact the agents: Celt Rowlands & Co. On or

* Sizes listed are approximate. Please contact the agent to confirm actual size.

Arrange Viewing

For more information about this property, please contact
Celt Rowlands & Co, SY11 on +44 1691 721953 * (local rate)

Contact Celt Rowlands & Co about this property

Enter details
    Morning (8am-noon)
    Afternoon (noon-5pm)
    Evening (5pm-9pm)
  1. Characters remaining: 500

By submitting this form, you accept our Terms of Use and Privacy Policy. When you click 'Send message''Request valuation', we will pass your personal data to the selected estate agents so that those agents can respond to your request for information or to arrange a viewing. valuation request.

Disclaimer

Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Celt Rowlands & Co, and do not constitute property particulars. Please contact Celt Rowlands & Co for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.

Properties on the market nearby

16 more properties like this

View all Albion Hill commercial properties for sale