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8 Chapel St 902 SF Retail Building Welford On Avon CV37 8PX $480,235 CAD ($532.41 CAD/SF) 8.83% Cap Rate
EXECUTIVE SUMMARY
The property is a grade 2 listed three storey, Victorian fronted building, offered for sale as a mixed use freehold investment. It comprises a ground floor shop and separately accessed residential apartment set over first and second floors.
Commercial Ground Floor - Montpellier Gallery:
A lease of the premises on IRI terms with a passing rent of £17,000pa. The tenant is holding over on a lease which is within the security of tenure provisions of the 1954 Landlord & Tenant Act. The tenant has indicated a wish to remain in the premises on lease terms to be agreed with the new freeholder.
Residential Upper Floors: The Flat 8 Chapel Street - Let on a periodic Assured Shorthold Tenancy at a passing rent of £600pcm.
Commercial Ground Floor - Montpellier Gallery:
A lease of the premises on IRI terms with a passing rent of £17,000pa. The tenant is holding over on a lease which is within the security of tenure provisions of the 1954 Landlord & Tenant Act. The tenant has indicated a wish to remain in the premises on lease terms to be agreed with the new freeholder.
Residential Upper Floors: The Flat 8 Chapel Street - Let on a periodic Assured Shorthold Tenancy at a passing rent of £600pcm.
PROPERTY FACTS Under Contract
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Storefront
Building Size
902 SF
Building Class
C
Year Built
1907
Price
$480,235 CAD
Price Per SF
$532.41 CAD
Cap Rate
8.83%
NOI
$42,390 CAD
Tenancy
Single
Building Height
1 Story
Frontage
19’ on Chapel Street
AMENITIES
- Bus Line
- Security System
- Signage
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NEARBY MAJOR RETAILERS
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8 Chapel St
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