3-5 Broad St 821 SF Retail Building Newent GL18 1AQ $826,083 ($1,006.19/SF)

We are instructed to seek offers in the region of £620,000 for the freehold interest in the property, subject to the tenancies outlined in the schedule. A purchase at this level would reflect a gross yield of 9.55% or net initial yield of 9.10% after purchaser’s costs of 4.81%.
The property is a Grade II Listed building dating from the 17th Century with later additions. It has brick elevations with ashlar render under a tiled roof. It has recently been refurbished to a high standard throughout and a range of original features have been retained such as exposed beams, original panelling and sash windows. It has been fully re-wired, and a new gas heating system has been installed.
There is a self-contained retail unit in the ground and first floor of No. 3, and a 6-bedroom HMO occupies the remainder of the accommodation.
The HMO accommodation includes 6 fully furnished double bedrooms, 2 with en-suite facilities and separate office/dressing area, a fully fitted kitchen with range of Neff appliances, separate dining/utility area and communal lounge. There is also a downstairs toilet and family sized bathroom with 3-piece suite with electric shower over the bath. The furniture is HMO-specific supplied by Fusion Furniture.
The retail unit benefits from a fully glazed frontage and includes ancillary space at first floor level. Ashton & Daniels have been established for over 40 years and trade from 3 locations in the Forest of Dean area. They contribute £400 per annum towards the upkeep and maintenance of the communal areas.