2 Bedroom Flat & 2 Commercial Units with Freehold
£295,000
Guide price
Guide price
Bedrooms: 2
The price is for 2 commercial units and a 2 bedroom independent first floor flat, plus ground rent from second floor flat.
The 2 bedroom apartment is currently receiving a rent of £7,140 per annum
The rear unit in Bewell Street has been let to Kumon on a 10 year lease at £7,427 per annum. The front unit in Eign Gate is currently receiving a rent of £7,200 per annum, but rising to £9,000 per annum.
In addition, the purchaser will acquire the freehold of the whole building, receiving ground rents from Flat 2 Bewell Street and a service charge contribution towards insurance, maintenance, fire alarm etc..
There is potential for an additional flat on the second floor, subject to planning.
Situation
The premises are well positioned in Eign Gate close to other major stores to include Trekitt and Savers. Eign Gate provides a link to the new shopping development, The Old Market and good pedestrian access west of Hereford.
Flat 1, 6 Bewell Street
Would make an ideal owner occupier space to the commercials, alternatively it is currently let at £7,140 per annum.
The property has 2 bedrooms, Open plan living and shower room. Accessed via bewell street, giving access to the only flats (Flat 1 & 2).
48 Eign Gate
Ground floor sales area of 505 sq.ft with additional cellar storage, staff room, and store room on the second floor.
Currently let at £7200 per annum, rising to £9,000 per annum by 2024.
4-6 Bewell Street
Let to Kumon, an educational organisation, from 11th October 2017 for 10 years at £8,068 per annum, with rent reviews every third anniversary.
This comprises a ground floor area of 764 sq.ft including kitchen and cloakroom.
Agent's Note
We feel this would be of particular interest to an owner/occupier business, as the rent received from the included unit at 4 - 6 Bewell Street and the residential flat should be sufficient to finance the borrowing needed to purchase the whole premises.
In effect, this could then mean a rent and business rate free occupation of the Eign Gate unit.
Services
Mains electricity, water and drainage are connected. Mains Gas is not connected. Both ground floor units have security and fire alarms.
Viewings
Strictly by appointment. Please contact the agents on 01432 344779 before travelling to check viewing arrangements and availability.
Jackson Property
for themselves and the vendors of the property, whose agents they are, give notice that these particulars, although believed to be correct, do not constitute any part of an offer of contract, that all statements contained in these particulars as to this property are made without responsibility and are not to be relied upon as statements or representations of fact and that they do not make or give any representation or warranty whatsoever in relation to this property. Any intending purchaser must satisfy himself by inspection or otherwise as to the correctness of each of the statements contained in these particulars.
The agent has not tested any apparatus, equipment, fixture, fittings or services and so cannot verify that they are in working order or fit for their purpose, neither has the agent checked the legal documents to verify the freehold/leasehold status of the property. The buyer is advised to obtain verification from their solicitor or surveyor.
The 2 bedroom apartment is currently receiving a rent of £7,140 per annum
The rear unit in Bewell Street has been let to Kumon on a 10 year lease at £7,427 per annum. The front unit in Eign Gate is currently receiving a rent of £7,200 per annum, but rising to £9,000 per annum.
In addition, the purchaser will acquire the freehold of the whole building, receiving ground rents from Flat 2 Bewell Street and a service charge contribution towards insurance, maintenance, fire alarm etc..
There is potential for an additional flat on the second floor, subject to planning.
Situation
The premises are well positioned in Eign Gate close to other major stores to include Trekitt and Savers. Eign Gate provides a link to the new shopping development, The Old Market and good pedestrian access west of Hereford.
Flat 1, 6 Bewell Street
Would make an ideal owner occupier space to the commercials, alternatively it is currently let at £7,140 per annum.
The property has 2 bedrooms, Open plan living and shower room. Accessed via bewell street, giving access to the only flats (Flat 1 & 2).
48 Eign Gate
Ground floor sales area of 505 sq.ft with additional cellar storage, staff room, and store room on the second floor.
Currently let at £7200 per annum, rising to £9,000 per annum by 2024.
4-6 Bewell Street
Let to Kumon, an educational organisation, from 11th October 2017 for 10 years at £8,068 per annum, with rent reviews every third anniversary.
This comprises a ground floor area of 764 sq.ft including kitchen and cloakroom.
Agent's Note
We feel this would be of particular interest to an owner/occupier business, as the rent received from the included unit at 4 - 6 Bewell Street and the residential flat should be sufficient to finance the borrowing needed to purchase the whole premises.
In effect, this could then mean a rent and business rate free occupation of the Eign Gate unit.
Services
Mains electricity, water and drainage are connected. Mains Gas is not connected. Both ground floor units have security and fire alarms.
Viewings
Strictly by appointment. Please contact the agents on 01432 344779 before travelling to check viewing arrangements and availability.
Jackson Property
for themselves and the vendors of the property, whose agents they are, give notice that these particulars, although believed to be correct, do not constitute any part of an offer of contract, that all statements contained in these particulars as to this property are made without responsibility and are not to be relied upon as statements or representations of fact and that they do not make or give any representation or warranty whatsoever in relation to this property. Any intending purchaser must satisfy himself by inspection or otherwise as to the correctness of each of the statements contained in these particulars.
The agent has not tested any apparatus, equipment, fixture, fittings or services and so cannot verify that they are in working order or fit for their purpose, neither has the agent checked the legal documents to verify the freehold/leasehold status of the property. The buyer is advised to obtain verification from their solicitor or surveyor.
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