64 Lower Hillgate, Stockport
£85,000
Freehold
  • Ground Floor Retail Unit
  • 1st and 2nd Floor - Two Bedroom Apartment
  • Total Costs: £120,000
  • Estimated Rental Value: £13,200
  • Yield: 11%
The building is located on Lower Hillgate which is within a moments walk from Stockport Town Centre, close to many local conveniences and local schools.

This property comprises a three floor brick built premises totalling to approximately 1,033 sq. ft. retail space.

The property currently is used as a retail premises with storage/workshop on the upper floors and is occupied by Gemini Blinds at an annual rent of £5,400 PA. The tenant has agreed to an increase on rent to £6,000 PA on a new FRI lease.

In order to fully extract the value of the the property we recommend gaining vacant possesion, and converting the first and second floors to a large 2 bedroom apartment and retain a self contained retail premises on the ground floor.

Investment Figures:
Purchase Price: £85,000
Conversion Costs: £35,000 (estimated)
Total Expenditure: £120,000

Retail Income: £5,400 Per Annum
Flat Income: £7,800 Per Annum
Total Income: £13,200 Per Annum

Yield: 11%
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