Completion within four weeks of going under offer!
Haarer Goss has completed on the freehold investment of 49 High Street, Crediton to a private property company specialising in the retail property investment market.
49 High Street is prominently situated between The Yellow Bookshop and Age Concern, and immediately opposite LeRoy Funeral Directors. There is on-street parking available opposite the premises (limited to 30 minutes) or the main long stay town car park is located a short distance away and accessed from St Saviours Way.
This attractive lock-up retail unit forms the ground floor of a three-storey Grade II Listed period property. The residential flat above has been sold on a long leasehold basis and has its own independent access to the rear. The shop has a wonderful traditional timber and glazed frontage with an off-set frontage. Inside, the premises are well-presented having been refurbished by the tenant, Jade Alford.
The freehold of the property is available with the benefit of the current tenancies at a price of £45,000. A purchase at this level would give an investor a gross initial yield of circa 8% in year one rising to approximately 12% in years two and three, depending on the purchaser’s acquisition costs. Please note the yields stated above are before allowing for deductions for any non-recoverable expenditure on property repairs or services.
If you have a freehold investment to sell, then please contact us for any help or advice on 01392 251171.