£218,500
Property for saleHigh Street, Wem, Shrewsbury SY4
Just added
About this property
The property comprises of a prominently located part three and part two storey property that is arranged to provide a mixed commercial and residential investment.
Description
The property comprises of a prominently located part three and part two storey property that is arranged to provide a mixed commercial and residential investment. The property is arranged to provide a ground floor lock up shop unit that is trading as a barbers and has a Total Net Sales Area of approximately 658 ft sq ( 61.14 m sq) with ancillary accommodation that fronts onto High Street. There is then a shared ground floor entrance to the property that provides access to two residential flats and an office area that are arranged over the first and second floors of the property.
The office area that is accessed off the first floor communal landing area has a Total Net Internal Floor Area of approximately 188 ft sq (17.49 m sq) is vacant and offers the additional opportunity of generating further income from the property. Flat 1B on the first floor provides a one bedroom flat that provides a Total Gross Internal Floor Area of approximately 866 ft sq (80.47 m sq). It is arranged to provide a reception hallway, sitting room, kitchen, bathroom, bedroom and store. Flat 1C on the second floor provides a one bedroomed flat that provides a Total Gross Internal Floor Area of approximately 666 ft sq (61.92 m sq). It is arranged to provide a landing area, sitting room, bathroom, bedroom and kitchen.
The property is of traditional construction with a glazed shop front onto High Street. The property offers an attractive investment opportunity offering a spread income profile from the commercial shop unit, two residential flats and further income generation possible from the office at first floor. An inspection of the property is recommended to fully understand the potential of the property.
Tenure
The property is offered for sale freehold subject to the occupational tenancies. The property is held under the ownership of Title Number SL183683.
The property is sold subject to the following tenancies;
17 High Street WemLease to Wem Barbers LimitedTenants Internal Repairing and Insuring LeaseLease expiry £10,000 per annum
1b Leek St. Wem AST AST £6,300 per annum
1c Leek St. Wem AST AST £6,120 per annum
Total Rent- £22,420 per annum
Copies of the tenancy agreements are available upon request from the selling agents.
Local Authority
Shropshire Council
Shirehall, Shrewsbury
SY2 6nd
Viewing
Viewing is strictly by prior arrangement with the selling/letting agents.
Price
Offers in the region of £218,500 (Two Hundred and Eighteen Thousand five hundred pounds) exclusive.
This shows a Net Initial Yield of 10% after normal purchasers costs.
Vat
The property is understood not to be elected for VAT and therefore VAT is not applicable.
Legal Costs
Each Party to be responsible for their own legal costs in respect of the transaction.
Services
Prospective purchasers should make their own enquiries.
The property is understood to benefit from all services.
The shop unit and residential flats are understood to benefit from separately metered supplies. There is gas fired central heating to the residential flats.
Rateable Value And Council Tax Bands
Prospective purchasers should make their own enquiries we understand from our internet enquiries these are as follows;
17 High Street
Rateable Value- £10,250
1B Leek Street- Council Tax Band - A
1C Leek Street- Council Tax Band - A
Epcs
17 High Street: E (110)
1B Leek Street: C (73) | 1C Leek Street: D (56)
Planning
The property is understood to benefit from planning consent for Use Classes E and C3 of the Town and Country Use Classes Order 1987.
Prospective purchasers should make their own enquiries.
Accommodation
(All Measurements are approximate)
Commercial
17 High Street
Sales Area 658 ft sq (61.14 m sq) net
Stores/ancillary accommodation 320 ft sq (29.42 m sq) net
Toilet
Residential
Ground Floor
Entrance lobby 32 ft sq (2.94 m sq) gross
First Floor
Communal Landing area 76 ft sq (7.07 m sq) gross
Office 188 ft sq (17.49 m sq) net
Flat 1B
Hallway
Sitting Room
Kitchen
Bathroom
Bedroom
Store
Total Gross Internal Floor Area 866 ft sq (80.47 m sq)
Flat 1C
Landing
Sitting Room
Kitchen
Bathroom
Bedroom
Total Gross Internal Floor Area 606 ft sq ( 61.92 m sq)
Description
The property comprises of a prominently located part three and part two storey property that is arranged to provide a mixed commercial and residential investment. The property is arranged to provide a ground floor lock up shop unit that is trading as a barbers and has a Total Net Sales Area of approximately 658 ft sq ( 61.14 m sq) with ancillary accommodation that fronts onto High Street. There is then a shared ground floor entrance to the property that provides access to two residential flats and an office area that are arranged over the first and second floors of the property.
The office area that is accessed off the first floor communal landing area has a Total Net Internal Floor Area of approximately 188 ft sq (17.49 m sq) is vacant and offers the additional opportunity of generating further income from the property. Flat 1B on the first floor provides a one bedroom flat that provides a Total Gross Internal Floor Area of approximately 866 ft sq (80.47 m sq). It is arranged to provide a reception hallway, sitting room, kitchen, bathroom, bedroom and store. Flat 1C on the second floor provides a one bedroomed flat that provides a Total Gross Internal Floor Area of approximately 666 ft sq (61.92 m sq). It is arranged to provide a landing area, sitting room, bathroom, bedroom and kitchen.
The property is of traditional construction with a glazed shop front onto High Street. The property offers an attractive investment opportunity offering a spread income profile from the commercial shop unit, two residential flats and further income generation possible from the office at first floor. An inspection of the property is recommended to fully understand the potential of the property.
Tenure
The property is offered for sale freehold subject to the occupational tenancies. The property is held under the ownership of Title Number SL183683.
The property is sold subject to the following tenancies;
17 High Street WemLease to Wem Barbers LimitedTenants Internal Repairing and Insuring LeaseLease expiry £10,000 per annum
1b Leek St. Wem AST AST £6,300 per annum
1c Leek St. Wem AST AST £6,120 per annum
Total Rent- £22,420 per annum
Copies of the tenancy agreements are available upon request from the selling agents.
Local Authority
Shropshire Council
Shirehall, Shrewsbury
SY2 6nd
Viewing
Viewing is strictly by prior arrangement with the selling/letting agents.
Price
Offers in the region of £218,500 (Two Hundred and Eighteen Thousand five hundred pounds) exclusive.
This shows a Net Initial Yield of 10% after normal purchasers costs.
Vat
The property is understood not to be elected for VAT and therefore VAT is not applicable.
Legal Costs
Each Party to be responsible for their own legal costs in respect of the transaction.
Services
Prospective purchasers should make their own enquiries.
The property is understood to benefit from all services.
The shop unit and residential flats are understood to benefit from separately metered supplies. There is gas fired central heating to the residential flats.
Rateable Value And Council Tax Bands
Prospective purchasers should make their own enquiries we understand from our internet enquiries these are as follows;
17 High Street
Rateable Value- £10,250
1B Leek Street- Council Tax Band - A
1C Leek Street- Council Tax Band - A
Epcs
17 High Street: E (110)
1B Leek Street: C (73) | 1C Leek Street: D (56)
Planning
The property is understood to benefit from planning consent for Use Classes E and C3 of the Town and Country Use Classes Order 1987.
Prospective purchasers should make their own enquiries.
Accommodation
(All Measurements are approximate)
Commercial
17 High Street
Sales Area 658 ft sq (61.14 m sq) net
Stores/ancillary accommodation 320 ft sq (29.42 m sq) net
Toilet
Residential
Ground Floor
Entrance lobby 32 ft sq (2.94 m sq) gross
First Floor
Communal Landing area 76 ft sq (7.07 m sq) gross
Office 188 ft sq (17.49 m sq) net
Flat 1B
Hallway
Sitting Room
Kitchen
Bathroom
Bedroom
Store
Total Gross Internal Floor Area 866 ft sq (80.47 m sq)
Flat 1C
Landing
Sitting Room
Kitchen
Bathroom
Bedroom
Total Gross Internal Floor Area 606 ft sq ( 61.92 m sq)
Mortgage calculator
Monthly repayment
£1,093 per month
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