Retail premises for sale in Ashton Road, Oldham OL8

Investment Consideration:
Gross Initial Yield: 6.98%
Rental Income: £57,600 p.a.
VAT is not applicable to this property
Comprises retail shop (No.210) with self-contained 2-bed flat above (No.210A) and double fronted retail shop (No.212-214) with 2 x 2-bedroom self-contained flats above (No. 212A/214A)
Nearby occupiers include Cake Box, Post Office, Barbers, Restaurant/Takeaways and more.

Property Description:
The property comprises mixed-use parade of 2 ground floor retail shops (1 being double fronted) and 3 x 2-bed self-contained flats at first and second floor, providing the following accommodation and dimensions:
Retail Shop No.210: 75 sq m (807 sq ft)
Open plan retail, storage, office, wc
Residential Flat No.210A: 51 sq m (549 sq ft)
2-bedrooms, Kitchen/Dining, Lounge, Bathroom
Retail Shop No.212-214: 120 sq m (1,292 sq ft)
Open plan retail, storage, office, wc
Residential Flat No.212A: 67 sq m (721 sq ft)
2-bedrooms, Kitchen/Dining, Lounge, Bathroom
Residential Flat No.213A: 64 sq m (689 sq ft)
2-bedrooms, Kitchen/Dining, Lounge, Bathroom
Total Retail gia: 195 sq m (2,100 sq ft)
Total Residential gia: 182 sq m (1,960 sq ft)

Tenancy:
The retail shop at No.210 and flat No.210A are at present let to Individual for a term of 7 years from 14th June 2022 at a current rent of £24,000 per annum and the lease contains full repairing and insuring covenants. Rent review every year open market upward only. No breaks. Deposit held of £4,500.
The retail shop at No.212-214 is at present let to Individual for a term of 7 years from 22nd February 2022 at a current rent of £18,000 per annum and the lease contains full repairing and insuring covenants. Rent review on 23rd February 2025 and 2028 open market upward only. No breaks.
Flat No.212A is at present let on AST to an Individual for a term of 6 Months from 15th February 2024 at a current rent of £7,800 p.a. Tenant in occupation since 2020.
Flat No.214A is at present let on AST to an Individual for a term of 6 Months from 28th February 2024 at a current rent of £7,800 p.a.

Location:
Oldham is a large town in Greater Manchester, England, amid the Pennines and between the rivers Irk and Medlock, 5.3 miles southeast of Rochdale and 6.9 miles northeast of Manchester. The property situated on the west side of Ashton Road, which is the main arterial route between Oldham and Ashton-under-Lyme. Nearby occupiers include Cake Box, Post Office, Barbers, Restaurant/Takeaways and more.