8 & 8a Royal Buildings 2 Retail Properties Offered at $611,359 CAD in Penarth

We have been instructed to seek Offers in the Region of £330,000 (Three Hundred and Thirty Thousand Pounds) subject to contract and exclusive of VAT. A purchase at this level reflects a Net Initial Yield of 6.76%, based on purchaser’s costs of 3.32 %.
Tenure: New 999 year lease at a peppercorn. The freehold can be provided if preferred. The sale can also include a second floor flat at a price to be agreed.
The property comprises the ground floor and basement of No. 8 Royal Buildings; previously a bistro bar / restaurant, the unit is now divided in two.
No. 8 is an attractive bar – branded Gin 64 – which trades from ground floor with a courtyard seating area behind (18 seats plus 6 tables). The bar has a basement cellar / storage area accessed from the courtyard. At the rear of the courtyard is a gate onto a communal yard – through which deliveries are made.
No. 8A is a long established barber shop trading from ground floor only.
8 Royal Buildings sits within a parade of prominent, ornate period buildings opposite Penarth Railway Station and the associated car park. As such it is in a busy position with a range of independent retailers, service providers and leisure outlets. This creates a vibrant mix that is popular with local residents & commuters alike. National retailers / A3 operators in the town centre include Tesco, Boots, Sainsburys, Tui, Costa, Coffee #1, Greggs, Co-op, Peacocks, Card Factory and Loungers Group.
Penarth is an affluent, historic town situated on the western edge of Cardiff. As such, it acts as its own destination & business district, but also as a short commute location for Cardiff. With its coastal location, historic pier, beach and numerous historic buildings – Penarth is also a holiday and retirement destination. As a result Penarth is often voted ‘The Best / One of The Best’ places to live in Wales