Commercial property for sale in Newland Street, Witham CM8
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Property features
- Fully Let Investment
- Currently producing £24,600 p.a.
- Prime Location
- Guide Price Reflects a Gross Yield of 9.5%
Property description
Strapline
Auction Sale - 10/10/2023
High Yielding Retail Investment High Street Retail Property Producing £24,600 per annum
Description
An attractive Grade II listed mixed use building fully let comprising a ground floor retail unit with a cellar, and two self contained one bedroom flats accessed via a separate rear entrance.
Tenancy
We understand from our client that the rental income is:
Ground floor Let on a new 5 year lease from 31st July 2023 at £7,675 p.a.
First Floor - Flat 83A - Let at £750 pcm
Second Floor - Flat 83B - Let at £660 pcm
Accommodation
Please note the approximate areas have been provided by a third party and the property has not been inspected by Savills. The property is believed to comprise of the following:
Ground Floor Inc Cellar - 307 sq ft (28.5 sq m)
First Floor - Flat 83A - Bedroom, Living room, kitchen, bathroom - 464 sq ft (43.1 sq m)
Second Floor - Flat 83B - Bedroom, Living room, kitchen, bathroom - 356 sq ft (33.1 sq m)
Total Floor Area - 1,127 sq ft (104.7 sq m)
For more information about this property, please contact
Savills - National Auctions, W1G on +44 20 8022 4160 * (local rate)
Disclaimer
Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Savills - National Auctions, and do not constitute property particulars. Please contact Savills - National Auctions 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.