A substantial mixed-use investment extending to approximately 4,324 sq ft, comprising a large ground floor retail unit with 2 residential flats above.
The property occupies a prime position on Gloucester Road, one of the area’s most vibrant retail and leisure destinations, and a location that is highly sought after for both commercial and residential lettings. It is situated adjacent to Boston Tea Party and within close proximity to Sainsbury's Local.
DESCRIPTION -
A substantial mixed-use investment extending to approximately 4,324 sq ft, comprising a large ground floor retail unit with 2 residential flats above.
The property is fully let, currently producing £46,700 per annum. The ground floor commercial tenant is holding over and paying a rent below current market levels.
We believe there is strong potential for rental growth, with scope to achieve circa £70,700 per annum once the retail unit is re-let at market rent.
LOCATION -
The property occupies a prime position on Gloucester Road, one of the area’s most vibrant retail and leisure destinations, and a location that is highly sought after for both commercial and residential lettings. It is situated adjacent to Boston Tea Party and within close proximity to Sainsbury's Local.
OUTSIDE -
Courtyard garden to the rear of the property.
LETTING DETAILS -
Shop - £11,000pa (market rent circa £35,000pa)
2 bedroom flat - £1,325pcm
3 bedroom flat - £1,650pcm
All parts of the property are let excluding bills and rates.
BUSINESS RATES -
The rateable value with effect from 2026 is: £34,750.
ENERGY PERFORMANCE CERTIFICATE (EPC) -
EPC ratings:
Shop - TBC.
2 bed flat - C (valid until May 2034)
3 bed flat - D (valid until April 2034)
FLOOR PLAN -
The floor plan is provided for indicative purposes only and should not be relied upon.
VAT -
All figures quoted are exclusive of VAT unless otherwise stated.
VIEWINGS -
By appointment.
CONTROL OF ASBESTOS REGULATIONS -
As per the Control of Asbestos Regulations 2012, the owner or tenant of the property, or anyone else who has control over it and/or responsibility for maintaining it, must comply with the regulations which may include the detection of and/or management of any asbestos or asbestos related compounds contained at the property. Maggs & Allen has not tested or inspected for Asbestos and therefore recommend all interested parties to make their own enquiries.
