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29 Westgate St 597 SF Retail Building Gloucester GL1 2NW $1,470,252 CAD ($2,462.73 CAD/SF) 10.13% Cap Rate
Investment Highlights
- High Street position
- Recently refurbished
- Currently producing a gross income of £81,000 per annum
- Comprises a retail unit at ground floor with a 10 double bed HMO over rear ground and 3 upper floors
- Long standing commercial tenant
Executive Summary
This freehold HMO investment opportunity is located in the historic centre of Gloucester and comprises a ground-floor retail unit with a 10-bed HMO arranged over the rear ground and three upper floors. The property has been recently refurbished and benefits from a High Street position with a long-standing commercial tenant in situ. It is currently generating a gross annual income of £81,000. Offers in the region of £800,000 are invited for the freehold interest, reflecting a gross yield of approximately 10.13%.
The shop is arranged over ground floor only and is currently tenanted. The HMO consists of 10 double bedrooms, 2 of which have their own demised W/C and showers.
The shop is arranged over ground floor only and is currently tenanted. The HMO consists of 10 double bedrooms, 2 of which have their own demised W/C and showers.
Property Facts
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Storefront Retail/Residential
Building Size
597 SF
Building Class
B
Year Built/Renovated
1930/2023
Price
$1,470,252 CAD
Price Per SF
$2,462.73 CAD
Cap Rate
10.13%
NOI
$148,937 CAD
Tenancy
Single
Building Height
3 Stories
Building FAR
0.11
Lot Size
0.13 AC
Frontage
18’ on Westgate Street
Amenities
- Security System
- Storage Space
- Air Conditioning
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Nearby Major Retailers
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29 Westgate St
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