MIXED USE INVESTMENT PROPERTY in Wakefield for Sale.
An excellent opportunity to acquire a prominently positioned mixed-use investment property in the heart of Horbury town centre. Held under the same ownership for 17 years, the property is offered for sale solely due to the owner's downsizing plans. The property has been well maintained and improved in recent years, including a new roof, replacement boiler, upgraded UPVC double-glazed windows and new Velux windows.
This versatile opportunity is likely to appeal to investors seeking a mixed-use income-producing asset or owner-occupiers wishing to live in a central location while benefiting from a commercial rental income. With scope to increase returns and the advantage of a convenient town centre setting, early viewing is strongly recommended.
The property comprises a ground floor commercial unit and a substantial self-contained apartment over the first and second floors. The current owner occupies the residential accommodation, which will be sold with vacant possession. Historically, the three-bedroom apartment generated £750 per calendar month, although we believe the current market rent would exceed £1,000 per calendar month. Occupying a prime trading position, the ground floor premises are currently operated as a cafe and have been let to the same tenant since 2018 at a passing rent of £6,000 per annum. The tenant is holding over under an expired lease, and we understand there is potential for rental growth through a review to current market levels, offering scope to enhance returns. Externally, the property benefits from a rear garden / yard with independent access to the residential accommodation. The apartment briefly comprises an entrance hall, kitchen, dining room, living room, bathroom and one double bedroom on the first floor, with two further double bedrooms on the second floor, both featuring Velux roof windows. EPC band D
