Commercial property for sale in 62 Carlton Street, Castleford, West Yorkshire WF10

Fixed price £260,000 (£166.56/sq. ft)
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Commercial property for sale 1,561 sq. ft*
Tenure: Freehold Council tax band: Not available

Property features

  • Two retail units and upper floor office with development potential
  • Prime town centre location
  • Producing £25,000 per annum
  • Adjacent to greggs, coral, lloyds bank and halifax bank
  • Long term lease to established local occupier, expiring in April 2034
  • Residential development opportunity to first floor (STP)

Property description

Summary

- prominent retail investment with potential to convert uppers to resi
- two retail units and upper floor office with development potential


- passing rent of £25,000 pax
- 12 year unbroken lease on newsagents
- adjacent to greggs & close to coral, lloyds bank, halifax bank
- asking £260,000
- reflecting gross yield of 9.09%
- niy of 9.34% assuming purchasers costs of 2.98%


Description


The opportunity to purchase an affordable commercial investment held on long term lease, located in Castleford. The investment will suit experienced investors as well as first time commercial buyers.

62 Carlton Street comprises a two storey mid-terraced property situated within the prime retail area of Castleford and is let by way of a 15 year lease. The investment currently produces £25,000 per annum exclusive.

The property offers a main sales area of 654 sq ft, with ancillary storage to the rear and first floor. Adjacent to the Paperhouse shop is a small, partitioned retail unit amounting to 135 sq ft which is let separately on an informal agreement. We understand that this will be placed on a two year lease prior to sale completion. Overall, the property offers a total nia of 1,379 sq ft and gia of 1,562 sq ft.

There is car parking to the rear.


Tenancy information


The lease for the larger retail unit is for a term of almost 15 years, from 8 May 2019 and expiring 1 April 2034. The rent passing is £14,000 pax, with a rent review provision on every fifth anniversary of the commencement date. It is a full repairing and insuring lease with no further break clause.

The small retail unit provides an additional income of £3,000 pax. As mentioned above, we understand this will be regularised prior to completion on a new 2 year lease.

The first floor is set out as an office and is subject to a 12 month rent guarantee at £8,000 pax


Upper floor redevelopment


We consider the first floor of this property offers considerable potential for residential development (under pd rights), subject to planning consent. We consider it suitable for developing into 2 or 3 apartments.

In addition, there is parking available to the rear, affording access for loading.


Accommodation - nia



Ground Floor Sales - 654 sq ft
Ground Floor Ancillary - 70 sq ft
First Floor Ancillary - 520 sq ft


Accommodation - gia



Ground Floor - 839 sq ft
First Floor - 723 sq ft


Investment proposal


- £260,000
- reflecting gross yield of 9.68%
- niy of 9.34% assuming purchasers costs of 2.98%

Please contact the agents for more information.


Viewings


Please contact the agent.


EPC
- C

Property info

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

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For more information about this property, please contact
Fisher German LLP, DN4 on +44 1302 977704 * (local rate)

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Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Fisher German LLP, and do not constitute property particulars. Please contact Fisher German LLP 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.

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