Retail premises for sale in Commercial Street, Hereford HR1

8 commercial street - investment.

•Prime location on the edge of High Town
•Current rent £28,250 per annum
•Nearby traders include Midlands Air Ambulance, Toni & Guy Hairdressing, Nationwide Building Society, Hays Travel and The Works
•Let to two tenants
•Gross yield 9.11%

Total: 250.40sqm (2,696sqft).

Location And Situation

The historic cathedral city of Hereford is the county town of Herefordshire and situated in a rich agricultural area close to the Welsh borders. The city is an important administrative centre and has a local economy that embraces industry, agriculture and tourism.

The resident population of the city is in the order of 56,000 persons with a catchment area within the county of 183,500 people according to the 2011 census. These numbers are increased, especially in the summer months, by visitors and holidaymakers. The city is approximately 55 miles equidistant from Bristol, Birmingham and Cardiff and communications are good with access to junction 4 of the M50 being around 17 miles south. Rail services are available direct to London Paddington, Manchester, Birmingham and Cardiff.

8 Commercial Street is situated just off the edge of High Town between premises occupied by Midlands Air Ambulance Charity Shop and Toni & Guy Hairdressers. Opposite is Hays Travel and a range of other retailers are within the immediate vicinity to include Nationwide Building Society, TSB Bank and The Works.

The Old Market development is linked to High Town via Widemarsh Street. High Town itself has a concentration of major retailers including Marks & Spencers, Boots, New Look and W H Smith together with the likes of Lloyds Bank, O2 amongst others.

Description

8 Commercial Street comprises a 4 storey (with basement) effectively mid terraced property which is traditionally constructed and comprises a part rendered, brick-built property under pitched and flat roofs. The property is not listed but is situated within a Conservation Area.

The ground floor provides an open trading area which has been extensively fitted to suit the occupying tenants and to the rear there are staff ancillary facilities together with storage. The basement is located under the front part of the building and accessed from the retail area.

The upper floors have a separate access and the dental surgery is arranged on first, second and third floors. This is a self-contained, well presented dentist premises that also has potential for alternative uses such as office, residential conversion subject to obtaining the necessary consents.