About

Oldfield Smith are pleased to bring to market this mixed use multi let reversionary investment property. 126a fronts the main retailing area of London Road and is a three storey standalone building with Dignity Funerals trading from the ground floor and a private individual residing in the 3 bedroom maisonette above. 126 is accessed below the flying freehold to the rear and is a two storey E Class building with Arty Farty as the tenant.

Ground Floor, 126a – A new lease for 15 years with 3 yearly tenant only breaks and 9% rental increases every 3 years, with a commencing rent of £10,750 pax.

Maisonette, 126a – A new periodic tenancy has been granted at £1,000 pcm with annual rent reviews settled to market rent.

126 – A 6 year lease expiring 28 November 2030 with a passing rent of £13,000 pax with mid term break and rent review.

There is real scope to increase the rents on the residential and 126 in 2027 making this investment reversionary. The gross blended yield equates to 6.8% with a gross reversionary blended yield of 8.33%, at a purchase of £525,000.