1-2 St Peter’s Street, Hereford HR1 2LE

For sale £349,000 2,152 sq ft ~Space for 20 people (est)
~ 2 months ago. Estate Office
Full address
1-2 St Peter’s Street, Hereford HR1 2LE - Hereford
Contact details
Asking price
£349,000
Property type
Office for sale
Features
Storage, Train transport
Size
2,152 sq ft
Estimated space
20 people
This value is estimated based on allocating 108 sq ft per person for office space
NIY (%)
8.28

• A commercial investment with planning permission for conversion of the upper parts to residential.
• Located in the heart of the pedestrianised high street.
• Situated 0.5 miles from Hereford Railway Station.
• Total gross internal area - 2,152 sq ft.
• Freehold.
• The entire building is let on a 5 year FRI lease to TUI UK Retail Ltd from 24th June 2018.
• Tenant only break option at year 3, upon giving 6 months’ notice (within the Landlord & Tenant act 1954).
• Current rental income - £30,000 pa.
• Planning permission granted on 14th August 2018 to convert the upper parts to 4 residential flats; comprising 1 x studio and 3 x 1 bed. This planning permission is valid at the point of the current tenant break. Planning ref - 182351 (Herefordshire Council).
• The upper parts are currently used for brochure storage, therefore there is an opportunity to negotiate the surrender of those parts to facilitate the development.
• Guide price - £349,000 (Three Hundred and Forty NineThousand Pounds) plus VAT, subject to contract.
• This reflects a Net Initial Yield of 8.28%, assuming purchasers’costs of 3.79%, and a low Capital Value of £162 per sq ft.

This office for sale is located in Hereford

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National rail 0.7m Hereford
Nearest airport 74.9m Bristol

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