23 Market St
This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
thank you
Your email has been sent!
23 Market St
2,234 SF Retail Building Telford TF2 6EL £285,000 (£128/SF) 10.88% Net Initial Yield
Executive Summary
Investment Consideration:
Gross Initial Yield: 10.88%
Rental Income: £30,996 p.a.
VAT is NOT applicable to this property
Comprises two retail units at ground floor and one at basement, with 3-bedroom residential flat at first floor
Basement unit can be let separately. Currently used by the same tenant of rear ground floor unit.
Situated within short walk from Oakengates Train Station, next to Greggs, Nisa, Pharmacy and more.
Property Description:
Comprises two retail units at ground floor with additional unit at basement and 3-bedroom self-contained flat at first floor, providing the following accommodation and dimensions:
Ground Floor Front: 44 sq m (473 sq ft)
Retail shop t/a Barbers
Ground Floor Rear: 95 sq m (1,022 sq ft)
Retail shop t/a Beauty Salon
Basement: 51 sq m (549 sq ft)
Commercial unit t/a Beauty Salon
First Floor Flat: 67 sq m (721 sq ft)
3 Bedrooms, kitchen, living room, bathroom
Total GIA: 257 sq m (2,765 sq ft)
Tenancy:
The ground floor front shop is at present let to an Individual t/a Barber Shop from 16th March 2023 until 28th February 2028 at a current rent of £9,000 p.a. and the lease contains full repairing and insuring covenants. Rent review on 15.03.2026 open market upward only. No breaks.
The ground floor rear shop is at present let to an Individual t/a Beauty Salon from 1st February 2020 until 1st January 2027 at a current rent of £9,030 p.a. and the lease contains full repairing and insuring covenants. Rent review on 01.02.25 open market upward only. No breaks.
The basement unit is at present let to an Individual t/a Beauty Salon from 1st February 2020 until 1st January 2027 at a current rent of £6,366 p.a. and the lease contains full repairing and insuring covenants. Rent review on 01.02.25 open market upward only. No breaks.
The first floor flat is at present let on AST (holding over) to an Individual at a current rent of £6,600 p.a.
Location:
The property is located in Oakengates in northern Telford and is situated on Market Street, the principal retail street in the area. The street is partially pedestrianised and is popular with local covenants including barbers, hot food takeaway and restaurants. There are also several national retailers, including Greggs and Subway who are in adjacent units, as well as Nisa Local and Betfred.
Gross Initial Yield: 10.88%
Rental Income: £30,996 p.a.
VAT is NOT applicable to this property
Comprises two retail units at ground floor and one at basement, with 3-bedroom residential flat at first floor
Basement unit can be let separately. Currently used by the same tenant of rear ground floor unit.
Situated within short walk from Oakengates Train Station, next to Greggs, Nisa, Pharmacy and more.
Property Description:
Comprises two retail units at ground floor with additional unit at basement and 3-bedroom self-contained flat at first floor, providing the following accommodation and dimensions:
Ground Floor Front: 44 sq m (473 sq ft)
Retail shop t/a Barbers
Ground Floor Rear: 95 sq m (1,022 sq ft)
Retail shop t/a Beauty Salon
Basement: 51 sq m (549 sq ft)
Commercial unit t/a Beauty Salon
First Floor Flat: 67 sq m (721 sq ft)
3 Bedrooms, kitchen, living room, bathroom
Total GIA: 257 sq m (2,765 sq ft)
Tenancy:
The ground floor front shop is at present let to an Individual t/a Barber Shop from 16th March 2023 until 28th February 2028 at a current rent of £9,000 p.a. and the lease contains full repairing and insuring covenants. Rent review on 15.03.2026 open market upward only. No breaks.
The ground floor rear shop is at present let to an Individual t/a Beauty Salon from 1st February 2020 until 1st January 2027 at a current rent of £9,030 p.a. and the lease contains full repairing and insuring covenants. Rent review on 01.02.25 open market upward only. No breaks.
The basement unit is at present let to an Individual t/a Beauty Salon from 1st February 2020 until 1st January 2027 at a current rent of £6,366 p.a. and the lease contains full repairing and insuring covenants. Rent review on 01.02.25 open market upward only. No breaks.
The first floor flat is at present let on AST (holding over) to an Individual at a current rent of £6,600 p.a.
Location:
The property is located in Oakengates in northern Telford and is situated on Market Street, the principal retail street in the area. The street is partially pedestrianised and is popular with local covenants including barbers, hot food takeaway and restaurants. There are also several national retailers, including Greggs and Subway who are in adjacent units, as well as Nisa Local and Betfred.
Property Facts
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Storefront
Building Size
2,234 SF
Building Class
C
Year Built
1930
Price
£285,000
Price Per SF
£128
Net Initial Yield
10.88%
NOI
£30,996
Tenancy
Single
Number of Floors
3
Frontage
21 ft on Market Street
1 of 1
Nearby Major Retailers
-
Joseph Bachman -
Blue Alpine Partners Ltd
1 of 9
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
23 Market St
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.