Mixed-Use Investment – Hereford town centre
Union St, Hereford HR1 2BT, UKBasics
- Category: Mixed-use
- Area: 4682 sq ft
Description
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Description:
We are pleased to bring to market this excellent investment opportunity. The property is a mixed-use property with commercial space on ground floor and flats on the uppers. The ground floor comprises three units, two are combined (26 & 28) and let to one tenant and the last (29) is let independently.
The uppers comprise 4x 1 bed flats and 2x 2-bedroom flats. 3x 1-bedroom flats are at 30A Union Street and are rented out. The other three flats are in shell condition.
If the flats are developed and rented out as short-term accommodation, the ERV would be approx. £78,000 p.a. !
Key points:
- Mixed use property comprising 2 shops and 6 flats
- Freehold
- Total approx. area is 443 sqm / 4,682 sq ft
- Price: £475,000 – no vat
- Rental income of £35,000 p.a.
- All units are underlet, plus 3 vacant flats
- Immediate asset management and development opportunity
unit sqm sq ft rent expires rent review 1 26-28 Shop GF Second Hand Shop 86.6 932 £7,500.00 01/01/2025 FRI 2 29 Shop GF A&J kebab shop 40 430 £6,000.00 31/07/2027 FRI Aug-24 3 26-28A flat 3 FF 1 bedroom 39 420 4 26-28A flat 4 FF 2 bedroom 44.13 475 5 26-28A Flat 8 SF 2 bedroom 76.35 725 6 30A flat 5 FF 1 bedroom 48.7 525 £7,200.00 7 30A flat 6 FF 1 bedroom 44 475 £7,200.00 8 30A flat 7 FF & SF 1 bedroom 65 700 £7,200.00 Location:
Hereford is a city of over 50,000 people in Herefordshire, in the west of England, just east of Wales. Hereford has been identified as an area marked for regeneration and the new NMITE engineering school is bringing another demographic and greater numbers to the area, adding to the local housing demand and boosting the economy.
The property is located on Union Street, right next to the town centre. It is close to parks including Castle Green, near the picturesque river Wye and has all amenities close by including a schools, hospitals, museums and restaurants.
Occupiers close by include McDonald’s, Waterstones, Halifax and a range of local boutiques and national retailers.
Vanderwald Estates have represented the information here based on information provided by the vendor. All potential buyers should only rely on their own due diligence and inspections.
