AUCTION: High yielding, mixed-use investment in Evesham
A popular shop with six residential rooms above and behind is in a mixed-use property coming up in Bond Wolfe’s next auction on Wednesday 20 October.
The fully let, freehold building at 34 Port Street in Evesham is bringing in total annual rents of £41,400 – representing a healthy yield of more than 12 per cent, if based on the £320,000+ guide price*.
The property is fronted by a self-contained tattooist called Full On Ink, rented out at £9,600 a year until the end of March 2023.
A coach house behind and five rooms above the shop bring in additional annual rents ranging from £3,640 to £6,500 from residential tenants.
James Mattin, managing director agency at Bond Wolfe, said: “Evesham has a busy town centre with plenty of footfall, creating strong demand for commercial units like this, and with a constant flow of people needing accommodation.
“This fully let, three-storey property would make an ideal investment for a landlord seeking to grow their portfolio.”
The property lies opposite the Regal Cinema on the junction with Burford Road, and is around 14 miles south-east of Worcester and 14 miles north-east of Cheltenham, with good access to junction 6 of the M5 motorway via the A44.
The Evesham property is just one of scores that will appear in Bond Wolfe’s next auction which starts at 9am on Wednesday 20 October. The auction will be livestreamed via Bond Wolfe’s website with remote bidding by proxy, telephone or internet only.
Bond Wolfe is offering this property for sale in conjunction with joint agents GJS Dillon.
The October auction follows Bond Wolfe’s September event when £21.9 million was raised from 180 lots sold out of 191 offered – a 95% success rate.
This means Bond Wolfe’s property auction sales have now reached nearly £130 million so far in 2021, already more than 2020’s total but with two more auctions still to come this year.
* Each property is subject to a reserve price which may be different from the guide price. Please refer to the Important Information and legal pack(s) for further information and any additional fees which may apply.