159 High St 980 SF Retail Building Maldon CM9 5BS $653,517 CAD ($666.85 CAD/SF)

Investment Consideration:
Gross Initial Yield: 8.07%
Rental Income: £28,250 p.a.
VAT is NOT applicable to this property
Comprises large ground floor shop with rear yard t/a Nail Salon
Retail shop let until February 2041. Rent reviews every 5 years
Includes residential flat at first floor which has been sold-off with approximately 79 years remaining
Occupiers nearby including Takeaway`s, Convenience Store, Barber Shop and more.
Property Description:
Comprises large ground floor retail shop with residential flat above (sold-off). The retail shop benefits from a fully glazed frontage, which provides access into an open-plan retail area. There are two sets of steps as you go further into the shop. Behind the counter is a separate storeroom/office, kitchenette, and staff WC. Further back there is another WC, plus access to a small yard and separate storage, providing the following accommodation and dimensions:
Ground Floor: 165 sq m (1,771 sq ft)
Open plan retail, storage, kitchen, wc
First Floor: Residential Flat (sold-off)
Tenancy:
The ground floor shop is at present let to Duck Nail Studio Ltd (with personal guarantee) for a term of 15 years from 13th February 2026 at a current rent of £28,000 per annum and the lease contains full repairing and insuring covenants. Rent review every 5 years open market upward only. Tenant option to determine on 13.02.31 with min 6 months notice. Deposit held of £7,000.
The first floor flat has been sold-off on long leasehold for a term of 99 Years from 29th September 2006 at a ground rent of £250 p.a. Ground rent review every 25 years to 1/1940th (0.0515%) of the open market value. Reversion 2105.
Location:
Maldon is an attractive town in Essex, located 9 miles east of Chelmsford, 15 miles south-west of Colchester and 40 miles north-east of Central London. The A12 is to the west and north, accessed by the A414 and B1019 respectively. The property is located in the heart of the town centre with occupiers nearby including Takeaway`s, Convenience Store, Barber Shop and more.