TO BE SOLD AT ALLSOP AUCTION 15TH & 16TH APRIL 2025 - UNLESS SOLD PRIOR
- Located in Brentwood town centre, 0.8 miles from Brentwood Station benefitting from Elizabeth Line services.
- The ground floor comprises 463 sq ft of retail space, with residential elements on the upper floors arranged as 3 x 1 bed unit and 1 x 2 bedroom unit, totaling 2,068 sq ft.
- Measuring 2,531 sq ft GIA (235 sq m).
- The commercial premises is let to a Hairdressers with a 10 year lease expiring in October 2028. The current passing rent is £14,000 per annum.
- The four flats are let on Assured Shorthold Tenancy agreements producing a current passing rent of £54,520 per annum.
- Total current passing rent is £68,520 per annum.
- The property benefits from a lift to all floors.
PROPOSAL
Guide price of £925,000 (Nine Hundred and Twenty Five Thousand Pounds) subject to contract and exclusive of VAT. A sale at this level reflects a Net Initial Yield of 7.01%, assuming standard purchaser’s costs and a reversionary yield of 8.05%. Low Capital Value of £365 per sq ft.
