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Worcester Street, Gloucester Auction Guide Price £260,000

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For Sale By Auction 11th February 2020
High Yielding Investment Property
Offering Potential Gross Yield Of Circa 11%
2 x Recently Converted 1 Bed Flats
Tenanted Shop At £15,600 Per Annum
Auction Guide Price £260,000

High yielding investment property situated in a prominent city centre position offering tenanted shop and 2 x 1 bedroom recently converted flats

This is a substantial Grade II Listed freehold end of terraced property that has recently been refurbished and converted to provide a ground floor lockup shop and two self-contained 1 bed flats above. The shop is currently let to a pizza takeaway business at £15,600 pa whilst both flats are currently vacant. It is expected that the flats should let for circa £500-£525 pcm each giving a potential annual rent of £28,000.

ACCOMMODATION

Ground floor shop and basement: Uninspected by the auctioneer. We understand the main part of the building is counter and waiting space with kitchens etc in the single storey rear extension. There is a separate side entrance to the rare extension. First floor and second floors: 2 recently converted 1 bedroom flats with open plan kitchen living space.

POSSESSION

Ground floor and basement sold subject to the aforementioned 5 year lease from March 2019 at £15,600 pa. First and second floor flats sold with vacant possession.

FOR SALE BY AUCTION

On Wednesday 11th February 2020 at 7.00pm at Ashton Gate Stadium, Winterstoke Road, Bristol BS3 2LQ. Please note the auctioneers have made their best endeavours to disclose all additional fees. Interested parties should refer to the special conditions of sale contained in the Legal Pack for any late amendments or additions to these fees as well as the auction day addendum sheet prior to bidding

LEGAL PACK

A full auction legal pack can be downloaded from once available. For further information on the other lots in this auction please visit the Auction House website.