We would like to use cookies to ensure we give you the best experience on our website. If you consent to us using cookies, please click 'Accept Cookies'.
To see the location map, please accept cookies.
To see the school map, please accept cookies.
FOR SALE BY AUCTION ON WEDNESDAY 26TH FEBRUARY 2025 COMMENCING AT 1PM -
SALE VIA A LIVE-STREAMED AUCTION
GUIDE PRICE: £500,000 FREEHOLD
** PLEASE CALL FOR VIEWINGS **
**Exceptional Investment Opportunity: Mixed-Use Development**
This opportunity comprises two properties: 1 Brereton Road and 2 Priory Street, together forming a partially developed site with a total floor area of approximately 7,000 sq ft.
1 Brereton Road features two ground-floor commercial units. The first unit is leased to 'Al Malina' on a three-year agreement, generating an annual rental income of £24,000, while the second unit is currently vacant with a potential rental income of £17,000 per annum. On the upper floors, there is access to three partially refurbished one and two-bedroom apartments, which have a projected combined rental income of £34,740 per annum.
2 Priory Street is a two-storey vacant building measuring approximately 3,317 sq ft and requires full renovation. Planning permission has been secured for the development of four apartments.
Upon completion, the estimated rental income from the entire project is an impressive £123,042 per annum, making this a rare and lucrative investment opportunity in a mixed-use property with significant income potential.
9.55m x 8.84m + 3.89m x 3.20m (31'04 x 29'00 + 12'
Al Malina is a grocery/butchers let on a 3-year term for £24,000 per annum. There is a rent review and break clause on the 3rd and 7th year. The shop comes with front access and a pedestrian door to the rear courtyard.
7.09m x 4.09m (23'3 x 13'5)
With a door to the rear courtyard and access to a potential WC.
6.45m x 3.73m (21'02 x 12'03)
With a shutter to the front and storage to the rear, there is pedestrian access to the rear courtyard. This vacant unit measures approximately 884 sq ft and would let for a figure in the region of £17,500 p.a.
3.10m x 1.80m (10'02 x 5'11)
5.89m x 2.84m (19'04 x 9'04)
A door to the side leading to the courtyard.
4.52m x 3.20m (14'10 x 10'06)
A window to the rear
1.96m x 1.88m (6'05 x 6'02)
7.75m x 1.93m (25'5 x 6'04)
Secure entry phone system to the street with stairs rising to the first floor.
3.61m x 1.85m (11'10 x 6'01)
Measuring to approximately 566 sq ft this flat would rent for approximately £1,000 p.c.m generating £12,000 per annum.
4.09m x 3.53m (13'05 x 11'07)
Window to the side.
6.20m x 3.61m (20'04 x 11'10)
3.48m x 3.28m (11'05 x 10'09)
Window to the rear
2.46m x 1.68m (8'01 x 5'06)
A window to the rear
Measuring to approximately 580 sq ft this flat would rent for approximately £1,000 p.c.m generating £12,000 per annum.
3.25m x 1.04m (10'08 x 3'05)
4.88m x 2.59m (16'00 x 8'06)
3.61m x 2.39m (11'10 x 7'10)
Window to the front elevation.
4.55m x 2.41m (14'11 x 7'11)
3.63m x 3.48m (11'11 x 11'05)
2.36m x 1.32m (7'09 x 4'04)
Extending to approximately 428 sq ft the flat would rent in the region of £895 p.c.m generating £10,740 per annum.
4.93m x 398.07m (16'02 x 1306)
4.04m x 3.61m + 1.50m x 1.93m (13'03 x 11'10 + 4'1
2.01m x 1.40m (6'07 x 4'07)
A two-storey building extending to approximately 3,317 sq. ft. with full planning to develop four further one and two-bedroom apartments. Estimated renovation costs in the region of £563,890 (£170 per sq. ft.)
7.52m x 5.59m + 14.45m x 5.59m (24'08 x 18'04 + 47
Please refer to the legal pack for planning consent and proposed plans.
14.45m x 7.44m + 12.78m x 3.66m (47'05 x 24'05 + 4
There is off-road parking to the front of Brereton Road and vehicular access to the courtyard from Priory Street.
The courtyard services all parts of each of the buildings including delivery for the commercial units.
*Guides are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide. Additional Fees and Disbursements will charged to the buyer - see individual property details and Special Conditions of Sale for actual figures.
Services can not be confirmed, inspection is advised.
The purchaser will be required to pay an administration charge of £1,140 (£950 plus VAT).
The purchaser will be required to pay an administration charge of £4,800 (£4000 PLUS VAT)
REF: 20/00715/S73
Remodelling and refurbishment of building and part change of use to form 2 office units (B1(a)) and 7 residential units (C3) including variation of condition 2 (approved plans) attached to 19/02127/FUL to allow for increase floor area of first floor flats onto ground floor roof area including amendments to internal layout of flats 1, 3 and 5. Addition of 5 rooflights and amendments to window sizes and external finishes.
PLANNING TO CHANGE COMMERICAL UNITS FROM OFFICES TO SHOPS: 23/01275/COU
Share
Enter your details below
If you would like a viewing, or to talk to a member of our team before requesting a viewing, please call our office on 01604 250066
