107-109 High St 1,224 SF Retail Building Collingham NG23 7NG $499,647 ($408.21/SF) 6.58% Cap Rate

Collingham is a picturesque village and civil parish in Nottinghamshire with a population of approximately 3,000 people. Nearby centres include Newark-on-Trent, approximately 6 miles to the south-west, Lincoln, approximately 14 miles to the northeast and Nottingham, approximately 27 miles to the south. Collingham is well connected, benefiting from good access to both the A46 and A1, which in turn, provides routes to Nottingham, Lincoln and Peterborough. The village has its own railway station, providing services to London, changing at Newark Northgate, which offers regular direct services to London King’s Cross with an average journey time of approximately 1hr 24 minutes.
FOR SALE MIXED-USE INVESTMENT The property comprises an attractive period building arranged over two storeys. The building is of traditional masonry brick construction with rendered front elevation beneath pan tiled covered roofs. Windows and doors are timber framed. The property provides self-contained commercial and residential accommodation. In addition, there are a number of outbuildings to the rear which are currently vacant and offer great potential for development. The retail element of the property is arranged over two levels. The ground floor comprises a large open plan salon incorporating a reception area with stores, offices, kitchen, and toilet facility off and to the first floor there are a series of treatment rooms with the accommodation fitted out to a good specification providing attractive centrally heated modern hairdressing and beauty treatment space. To the rear of the salon is a self-contained five bedroomed house arranged over ground and first floors, plus additional attic storage space. The residential property benefits from an external yard and car parking area, plus it’s own independent access.
Popular village location Let to two tenants producing an annual income of £25,680 Potential to increase the income by development of the rear vacant outbuildings (STPP) Retail unit offers attractive salon premises over two floors Extensive 5 bedroomed residential accommodation independent from the retail premises Freehold Guide Price of £375,000, reflecting a net initial yield of approximately 6.6%, assuming standard purchasers costs, and a capital value of £115 psf