Log In/Sign Up
Your email has been sent.
94-96 High St 1,400 SF Retail Building Cheltenham GL50 1EG $1,210,400 CAD ($864.57 CAD/SF) 8.49% Cap Rate
INVESTMENT HIGHLIGHTS
- Four-storey Investment opportunity
- Includes a retail unit and 6-bedroom HMO on the upper floors
- Potential for further development
- Situated in the pedestrianised area of Cheltenham’s High Street, close to its junction with Bath Road
EXECUTIVE SUMMARY
The property is offered freehold subject to the occupational tenancies in place. Offers in excess of £650,000. A purchase at this level reflects a gross yield of 8.91 %. net yield of 8.49% after the purchaser’s costs. This is based on the HMO being fully let at the current rental figures quoted (the property comprises of a ground floor retail unit and HMO residential units on the upper floors).
The retail unit on the ground floor (1,400 SQ FT) is currently let to Blue Cross for a period of 5 years expiring 31st August 2027 at a rent of £17,500 per annum on an internal repairing and insuring basis. The lease is subject to a service charge which is currently running at £2,000 p.a. The tenant has a break clause on/after 1st September 2025. When fully Let the HMO could produce a gross rent of £40,440 p.a. The rooms are let on Assured Shorthold Tenancies (ASTs). Copies of the lease documentation & Tenancy Agreements are available upon request.
The retail unit on the ground floor (1,400 SQ FT) is currently let to Blue Cross for a period of 5 years expiring 31st August 2027 at a rent of £17,500 per annum on an internal repairing and insuring basis. The lease is subject to a service charge which is currently running at £2,000 p.a. The tenant has a break clause on/after 1st September 2025. When fully Let the HMO could produce a gross rent of £40,440 p.a. The rooms are let on Assured Shorthold Tenancies (ASTs). Copies of the lease documentation & Tenancy Agreements are available upon request.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Storefront Retail/Residential
Building Size
1,400 SF
Building Class
B
Year Built
1902
Price
$1,210,400 CAD
Price Per SF
$864.57 CAD
Cap Rate
8.49%
NOI
$102,763 CAD
Tenancy
Single
Building Height
5 Stories
Building FAR
0.46
Lot Size
0.07 AC
Frontage
16’ on High St
AMENITIES
- Security System
- Storage Space
1 1
NEARBY MAJOR RETAILERS
1 of 7
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
94-96 High St
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.