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The property comprises a high yielding, multi-let, retail investment opportunity fronting a high footfall pedestrianised street.
Arranged as three ground floor retail units with a gym to the upper parts, the property is fully let to four tenants producing a combined £25,600 per annum.
We consider the property may offer asset management potential via improvement of rent, with No.66 let to a long-standing tenant of 25+ years paying £6,000 per annum, whilst adjacent units have recently let at £7,200 per annum.
We also consider the property may benefit from development/conversion potential (subject to obtaining any requisite consents) and we understand plans have been drawn up for a conversion to residential use.
The property benefits from a prominent position fronting the pedestrianised High Street, the principle retail amenity in Mexborough. The High Street has recently undergone re-surfacing and regeneration works. Nearby retailers include, Specsavers, Heron Foods, J.D Wetherspoons and a number of independent retailers.
Tenure
Freehold
Planning
The property is within the Mexborough Town Centre Master Plan; a comprehensive regeneration of the town centre.
Part of this scheme allows for a grant of up to £10,000 per unit for owners and tenants to improve retail frontages. There is no requirement for this grant to be repaid.
Rent