83 & 85 St Sepulchre Gate And 94-95 Spring Gardens, Doncaster, South Yorkshire
4,775 Sq Ft (443.6 Sq M)
£400,000 for the Freehold
Retail
Key Features
CITY CENTRE INVESTMENT - MULTI LET
SOLD AS 100% LET
SCOPE FOR RESIDENTIAL DEVELOPMENT STP
PROMINENT LOCATION
THREE SHOPS, TWO UPPER FLOORS - SEPERATELY ACCESSED
HIGH YIELDING - 10.21%
General Description
High yielding city centre retail & office investment producing an income of £42,560 per annum with extensive redevelopment opportunities over the upper floors via permitted development rights.
- Fully let investment
- Three ground floor shops & separately let first and second floors
- Excellent residential development potential for the extensive upper floors
- High yielding city centre premises
- Located in a prime location adjacent to the Doncaster Train Station
- Close to McDonald's & the Frenchgate shopping centre
- Total Net Internal Area: 443.61 Sq M (4,775 Sq Ft)
Inviting offers over £400,000 reflecting a Net Initial Yield of 10.21% after purchasers' costs of 6.41%
LOCATION
The property has a frontage to Spring Gardens, close to its junction with St Sepulchre Gate, within Doncaster City Centre, close to the Frenchgate Shopping Centre and prime retail shopping facilities.
The building has a prominent frontage and is within easy walking distance of the city's railway and bus stations and a number of public car parks.
The premises are located in an established business area with nearby occupiers including the Halifax Bank, a McDonalds restaurant and several bars and cafes.
DESCRIPTION
Three ground floor shops fully let, and separately accessed extensive upper floors, also let, an producing an income of £42,560 per annum exclusive.
TENANCY INFORMATION
- Barbers - 83 St Sepulchire Gate - Let to a local barbers at £10,200 per annum exclusive
- Nail Bar - 85 St Sepulchre Gate - 6 year lease from June 2023 at £9,960 per annum exclusive with annual upwards only open market rent reviews
- Shop - Ground Floor 94 - 95 Spring Gardens - 2 year lease from September 2023 at £5,400 per annum exclusive
- Office - First Floor 94 - 95 Spring Gardens - 12 month rent guarantee at £10,000 per annum exclusive
- Dance School - Second Floor 94 - 95 Spring Gardens - 6 year lease from November 2020 at £7,000 per annum exclusive
Total rent roll: £42,560 per annum exclusive
Leases and tenancy schedule are available upon request
REDEVELOPMENT
We consider the upper floors suitable for redevelopment to residential STPP. We expect development will be available within permitted development rights.
EPC
Various EPCs are available upon request.
ANTI MONEY LAUNDERING
Purchasers are required to comply with Anti Money Laundering Regs.
TENURE
Freehold
ASKING PRICE
Inviting offers over £400,000 reflecting a Net Initial Yield of 10.21% after purchasers' costs of 6.41%
VIEWINGS
Please contact the sold agent:
Ben Flint
Tel: 07494735001 / 01302 639838
Email: Ben@flintrealestate.co.uk