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37 King StreetBridlington
- New
- Sole agency
- Leasehold
Key features
- High Yielding Retail Investment Opportunity
- Let on a Lease Expiring 11/12/2025
- Producing £11,000 per annum
- 1,799 sq ft (167.13 sq m)
- Asset Management Potential
- Development Potential (stp)
- Prominent Position on Pedestrianised Street
- Guide Price Reflects 16.9% Gross Yield
High Yielding Retail Investment Opportunity on Prime Pedestrianised Street. Retail Unit and Upper Parts Let on a Lease Expiring 11/12/25 and Paying £11,000 p/a
About this property
The property comprises a high yielding retail investment opportunity situated on a prime pedestrianised street. Arranged across ground and first floors and providing a total 1,799 sq ft (167.13 sq m) of accommodation, the property is fully let to a private individual trading as Phone Bytes on a lease expiring 11/12/2025 and paying £11,000 per annum. We consider the property to have asset management potential via renewal of the existing lease, furthermore there may be potential to obtain vacant possession of the upper parts and convert to alternative uses, including residential (subject to obtaining the requisite consents). King Street comprises the principle retail amenity in Bridlington. The property sits in the centre of the street and adjacent to a lane which leads to the Promenade Shopping Centre. Nearby tenants include Superdrug, Costa and Specsavers. The street also hosts a popular market twice a week.