Retail premises for sale in Hayfield Close, Belper DE56

Investment Consideration:
Gross Initial Yield: 6.61%
Rental Income: £7,200 p.a.
VAT is not applicable to this property
Comprises ground floor retail shop t/a hair salon
Situated in predominantly residential area within 1 mile from Belper Town Centre

Property Description:
Comprises ground floor shop t/a hair salon, which forms part of an established retail parade and provides the following accommodation and dimensions:
Retail Shop: 46.40 sq m (499 sq ft)
Open plan retail, Kitchenette, WC, Storage

Tenancy:
The property is at present let to an Individual for a term of 10 Years from 1st March 2017 at a current rent of £7,200 p.a. And the lease contains full repairing and insuring covenants. Rent review on 1st March 2026. Break clause in 2022 not exercised. Tenant in occupation since 1999.

Tenure:
Long leasehold. To be held on a 999 year lease from completion at a ground rent of peppercorn.

Location:
The market town of Belper lies 9 miles north of Derby, on the edge of the Peak District. The town is located on the A6 and is some 15 miles west of Junction 26 of the M1 Motorway. The property is situated in a predominantly residential area on the east side of Hayfield Close, at its junction with Ladywood Avenue.