Offers over
£330,000
(£212.90/sq. ft)
Retail premises for saleCheveral Avenue, Radford CV6
1,550 sq. ft
Just added
Freehold
About this property
Freehold investment & development opportunity
Cheveral Avenue, Coventry, CV6
A rare and exciting opportunity to acquire a substantial freehold mixed-use property occupying a prominent position on Cheveral Avenue, Coventry.
The property comprises a well-established ground-floor retail premises, currently occupied by an established convenience store business, together with substantial first-floor accommodation currently utilised as storage.
The current commercial tenant is paying £17,000 per annum and is keen to continue operating the business from the premises, providing an attractive existing rental income stream for the purchaser.
Key features
* freehold
* Established ground-floor retail premises
* Current rental income of £17,000 per annum
* Existing commercial occupier keen to remain
* Substantial first-floor accommodation
* Three rooms and bathroom at first-floor level
* Currently used as storage in connection with the shop
* Excellent potential for residenti
Location
179 Cheveral Avenue, Radford, Coventry CV6 3EN
description
Freehold investment & development opportunity
Cheveral Avenue, Coventry, CV6
A rare and exciting opportunity to acquire a substantial freehold mixed-use property occupying a prominent position on Cheveral Avenue, Coventry.
The property comprises a well-established ground-floor retail premises, currently occupied by an established convenience store business, together with substantial first-floor accommodation currently utilised as storage.
The current commercial tenant is paying £17,000 per annum and is keen to continue operating the business from the premises, providing an attractive existing rental income stream for the purchaser.
Key features
* freehold
* Offers Over £330,000
* Established ground-floor retail premises
* Current rental income of £17,000 per annum
* Existing commercial occupier keen to remain
* Substantial first-floor accommodation
* Three rooms and bathroom at first-floor level
* Currently used as storage in connection with the shop
* Excellent potential for residential conversion, subject to planning permission and all necessary consents
* Potential to create a self-contained residential flat above the commercial premises
* Strong investment and development opportunity
* Prominent position on Cheveral Avenue
* Ideal for investors, developers or owner-occupiers
The property
The ground floor provides an established retail unit currently occupied by a convenience store business.
The commercial element is currently let at £17,000 per annum, with the existing occupier expressing a desire to continue trading from the premises.
The first floor provides substantial additional accommodation comprising three separate rooms together with a bathroom. The space is currently utilised for storage by the ground-floor business but offers significant potential for alternative use.
Subject to the necessary planning permission, building regulations and other relevant consents, the first-floor accommodation could potentially be converted to provide a self-contained residential flat, creating the opportunity to significantly enhance the property’s rental income and overall capital value.
Investment potential
The property offers an attractive combination of existing rental income and future development potential.
At the asking level of £330,000, the current £17,000 annual rent represents an initial gross rental yield of approximately 5.15%, before allowing for any costs or future rental growth.
The additional first-floor accommodation provides an opportunity for a purchaser to explore residential conversion and unlock further value from the property.
The existing commercial occupier’s intention to remain also provides the potential for continuity of rental income while any future development proposals are considered.
Development opportunity
The first-floor accommodation is currently accessed via the commercial premises and is not presently configured as a self-contained flat.
However, its existing layout of three rooms and a bathroom provides an excellent starting point for a potential residential conversion.
A purchaser may wish to investigate the possibility of creating an independent residential entrance and converting the first-floor accommodation into a self-contained apartment, subject to planning permission, building regulations and any other necessary statutory approvals.
Interested parties are advised to make their own enquiries with Coventry City Council and obtain independent professional advice regarding any proposed change of use or alterations.
Ideal for
This property would be particularly attractive to:
* Property investors seeking an income-producing freehold asset
* Developers looking for residential conversion potential
* Owner-occupiers wishing to operate a business from the ground floor
* Investors seeking to add value through refurbishment and redevelopment
* Buyers looking for a mixed-use property with both commercial income and residential potential
Viewing
Early viewing is highly recommended to appreciate the size, layout and potential of this unusual freehold investment opportunity.
Tenure: Freehold
current commercial rent: £17,000 per annum
asking price: Offers over £330,000
The residential conversion potential described is subject to planning permission, building regulations and all other necessary consents. Interested parties should make their own independent enquiries and satisfy themselves as to the suitability of the property for their intended use.
Cheveral Avenue, Coventry, CV6
A rare and exciting opportunity to acquire a substantial freehold mixed-use property occupying a prominent position on Cheveral Avenue, Coventry.
The property comprises a well-established ground-floor retail premises, currently occupied by an established convenience store business, together with substantial first-floor accommodation currently utilised as storage.
The current commercial tenant is paying £17,000 per annum and is keen to continue operating the business from the premises, providing an attractive existing rental income stream for the purchaser.
Key features
* freehold
* Established ground-floor retail premises
* Current rental income of £17,000 per annum
* Existing commercial occupier keen to remain
* Substantial first-floor accommodation
* Three rooms and bathroom at first-floor level
* Currently used as storage in connection with the shop
* Excellent potential for residenti
Location
179 Cheveral Avenue, Radford, Coventry CV6 3EN
description
Freehold investment & development opportunity
Cheveral Avenue, Coventry, CV6
A rare and exciting opportunity to acquire a substantial freehold mixed-use property occupying a prominent position on Cheveral Avenue, Coventry.
The property comprises a well-established ground-floor retail premises, currently occupied by an established convenience store business, together with substantial first-floor accommodation currently utilised as storage.
The current commercial tenant is paying £17,000 per annum and is keen to continue operating the business from the premises, providing an attractive existing rental income stream for the purchaser.
Key features
* freehold
* Offers Over £330,000
* Established ground-floor retail premises
* Current rental income of £17,000 per annum
* Existing commercial occupier keen to remain
* Substantial first-floor accommodation
* Three rooms and bathroom at first-floor level
* Currently used as storage in connection with the shop
* Excellent potential for residential conversion, subject to planning permission and all necessary consents
* Potential to create a self-contained residential flat above the commercial premises
* Strong investment and development opportunity
* Prominent position on Cheveral Avenue
* Ideal for investors, developers or owner-occupiers
The property
The ground floor provides an established retail unit currently occupied by a convenience store business.
The commercial element is currently let at £17,000 per annum, with the existing occupier expressing a desire to continue trading from the premises.
The first floor provides substantial additional accommodation comprising three separate rooms together with a bathroom. The space is currently utilised for storage by the ground-floor business but offers significant potential for alternative use.
Subject to the necessary planning permission, building regulations and other relevant consents, the first-floor accommodation could potentially be converted to provide a self-contained residential flat, creating the opportunity to significantly enhance the property’s rental income and overall capital value.
Investment potential
The property offers an attractive combination of existing rental income and future development potential.
At the asking level of £330,000, the current £17,000 annual rent represents an initial gross rental yield of approximately 5.15%, before allowing for any costs or future rental growth.
The additional first-floor accommodation provides an opportunity for a purchaser to explore residential conversion and unlock further value from the property.
The existing commercial occupier’s intention to remain also provides the potential for continuity of rental income while any future development proposals are considered.
Development opportunity
The first-floor accommodation is currently accessed via the commercial premises and is not presently configured as a self-contained flat.
However, its existing layout of three rooms and a bathroom provides an excellent starting point for a potential residential conversion.
A purchaser may wish to investigate the possibility of creating an independent residential entrance and converting the first-floor accommodation into a self-contained apartment, subject to planning permission, building regulations and any other necessary statutory approvals.
Interested parties are advised to make their own enquiries with Coventry City Council and obtain independent professional advice regarding any proposed change of use or alterations.
Ideal for
This property would be particularly attractive to:
* Property investors seeking an income-producing freehold asset
* Developers looking for residential conversion potential
* Owner-occupiers wishing to operate a business from the ground floor
* Investors seeking to add value through refurbishment and redevelopment
* Buyers looking for a mixed-use property with both commercial income and residential potential
Viewing
Early viewing is highly recommended to appreciate the size, layout and potential of this unusual freehold investment opportunity.
Tenure: Freehold
current commercial rent: £17,000 per annum
asking price: Offers over £330,000
The residential conversion potential described is subject to planning permission, building regulations and all other necessary consents. Interested parties should make their own independent enquiries and satisfy themselves as to the suitability of the property for their intended use.
Mortgage calculator
Monthly repayment
£1,650 per month
Whole of market comparison
70+ lenders and 10,000+ products
How much could I borrow
In partnership with
The monthly repayments provided are estimates and should be used as a guide only. The actual amount you can borrow will depend on your personal financial situation and subject to a full application. For a more precise estimate, please use the Mojo mortgage calculator. Your home or property may be repossessed if you do not keep up repayments on your mortgage.
.png){kind=logo}