£240,000

48 Eign Gate & 4-6 Bewell Street, Hereford.

HR4 0AH

Hereford Office

45 Bridge Street
Hereford
HR4 9DG

01432 344779
Ref: HBJ 4053

Summary

Freehold Investment

2 Ground Floor Shops/Educational Units

Grade II Listed

Educational Unit Let at Initial Rent of £6,950 per annum for 10 Years From 11tOctober 2017

Shop Available at £11,500

Ground Rents from 2 Upper Floor Flats

The rear unit in Bewell Street has been let to Kumon on a new 10 year lease at £6,950 per annum.

The front unit in Eign Gate is currently vacant at an asking rent of £11,500 per annum. 

In addition, the purchaser will acquire the freehold of the whole building, receiving ground rents from the 2 upper floor flats and a service charge contribution towards insurance, maintenance, fire alarm etc.


Situation

 

The premises are well positioned in Eign Gate close to other major stores to include Peacocks, Poundstretcher, Trekitt and Savers. Eign Gate provides a link to the new shopping development, The Old Market and good pedestrian access west of Hereford.

 

Description

 

48 Eign Gate

 

Ground floor sales area of 505 sq.ft with additional cellar storage, staff room, and store room on the second floor.

 

Currently vacant and available at £11,500 per annum.

 

4-6 Bewell Street

 

Let to Kumon, an educational organisation, from 11th October 2017 for 10 years at £6,950 per annum, with rent reviews every third anniversary.

 

This comprises a ground floor area of 764 sq.ft including kitchen and cloakroom.

 

Business Rates

Eign Gate - £9,600

Bewell Street - £6,900

Agent's Note:

We feel this would be of particular interest to an owner/occupier business, as the rent received from the included unit at 4 - 6 Bewell Street should be sufficient to finance the borrowing needed to purchase the whole premises. 

In effect, this could then mean a rent and business rate free occupation of the Eign Gate unit.

Services Mains electricity, water and drainage are connected. Mains Gas is not connected. Both ground floor units have security and fire alarms.

 

Viewings Strictly by appointment. Please contact the agents on 01432 344779 before travelling to check viewing arrangements and availability.  

 

Jackson Property for themselves and the vendors of the property, whose agents they are, give notice that these particulars, although believed to be correct, do not constitute any part of an offer of contract, that all statements contained in these particulars as to this property are made without responsibility and are not to be relied upon as statements or representations of fact and that they do not make or give any representation or warranty whatsoever in relation to this property. Any intending purchaser must satisfy himself by inspection or otherwise as to the correctness of each of the statements contained in these particulars.

 

The agent has not tested any apparatus, equipment, fixture, fittings or services and so cannot verify that they are in working order or fit for their purpose, neither has the agent checked the legal documents to verify the freehold/leasehold status of the property. The buyer is advised to obtain verification from their solicitor or surveyor.

 

13 April 2018

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