Investment For Sale
Carlton Street

Description

• Town Centre Investment/Conversion Opportunity
• ERV £33,000
• Initial Yield 8.47%/Potential Yield 11.19%
• Substantial retail premises in a prime location within Castleford Town centre. New lease in place to Scope for 5 years from January 2022 at £25,000 per annum
• Vacant upper floors with the prospect of achieving a rental income in the region of £8,000 following some refurbishment works
• EPC Asset Rating TBC

The property comprises a three storey mid-terrace brick built commercial building situated within the prime retail area of Castleford town centre, and being let to Scope charity shop. A new lease is in place for a term of 5 years from January 2022 at a rent of £25,000 per annum. The lease relates to the ground floor retail accommodation extending to 131.9m² (1,420ft²) with further storage to the ground floor level and ancillary accommodation to the first floor. The remaining parts of the 1st and 2nd floors are vacant and offer the potential of achieving an income in the region of £8,000 per annum following refurbishment works. The upper floors would be suitable for offices, leisure use or conversion into residential, subject to planning. The property is well located within the town centre in close proximity to the Yorkshire Bank, NatWest and Lloyds, in addition to being within walking distance of Marks and Spencer, Wilkinson's and the town’s bus and railway stations. The property provides a good opportunity for an investor to acquire a singly occupied retail premises let to a good covenant in a prime retail position within the town centre of Castleford.