16th February 2018
Attractive Welsh commercial properties for sale in Chester auction
A substantial mixed-use property in Wales with an established income stream of nearly £30,000 per annum is going under the hammer in SDL Auctions Cheshire and North Wales’ first auction of 2018.
The property is bringing in rent of £8,080 per annum from a hair salon and beauticians in two ground floor retail units, and another of £21,580 per annum from four one bedroomed flats on the ground floor and upper levels.
Edward Feather, senior valuer and auctioneer at SDL Auctions Cheshire and North Wales, said: “This property fronts onto Corwen Road, in a popular and convenient location with a good volume of passing traffic and within easy travelling distance of Mold, Wrexham and Chester.
“The income streams could be even higher if a vacant room is adapted as a bedsit, which would mean a total rent of £32,260 per annum – a very attractive yield of more than 20 per cent if the lot sold at the guide price.”
Over in Deeside, a retail property at 63 Chester Road West, leading through Shotton to Connah’s Quay, is included in the auction catalogue with a guide price of £50,000 to £70,000.
This large commercial lot is being sold with vacant possession and has a sales area measuring more than 68 feet in length, with an additional kitchen and toilet facilities.
Mr Feather said: “This is in good decorative order throughout and is surrounded by a number of independent and national traders including established food outlets such as Iceland and Wok & Go.”
And in Rhyl, a retail property at 5 Market Street let to a telephone repair shop for approximately £6,500 per annum has a guide price of £45,000+.
A pair of two bedroomed flats above this property at 5a Market Street, producing an annual income of approximately £8,400 per annum, are being sold with a guide price of £55,000+.
Mr Feather added: “We’ve got a great range of properties to suit the needs of all buyers, and we’re expecting a busy day in the auction room.”
The SDL Auctions Cheshire and North Wales auction takes place at Chester Racecourse on Tuesday 27 February. The full catalogue can be viewed here and is combined with the lots from the SDL Auctions North West auction the day after at the AJ Bell Stadium in Manchester.