Morriston is a busy retail and residential suburb of Swansea, located 4 miles north east of the city centre.
The property is situated on Woodfield Street and is an attractive period mid terrace building laid out on ground, mezzanine, first and second floors. The main ground floor and small mezzanine is a retail / A3 unit which will be let to Creative Dining Ltd on a new 5 year lease from completion at £15,000 p.a. The first and second floors have recently been developed as 6 fully fitted apartments.
The total Gross Rental Income is £77,220 p.a.
We have been instructed to seek Offers in the region of £875,000 (Eight Hundred and Seventy Five Thousand Pounds) subject to contract and exclusive of VAT.
A purchase at this level reflects a Net Initial Yield of 8.37%, based on purchaser’s costs of 5.49%.