News

Worcestershire commercial property consultancy and Chartered Surveyors GJS Dillon has sold the freehold of a mixed use investment property in Upton upon Severn, Worcestershire.

Acting on behalf of a private client, Mike Pritchard, commercial negotiator at GJS Dillon, sold 6 Old Street, Upton upon Severn, Worcestershire, WR8 0HA, a mixed use commercial and residential investment property, to a private investor, for £245,000, at a net initial yield of just under 10%.

The ground floor is let to an established opticians on a new 10 year lease, with additional income from the flats on the first floor, by way of ground rent income, and second floor, by way of an AST agreement.

The property is a Grade II listed, three-storey, mid-terraced, Georgian mixed-use building in a prominent town centre location.

“We originally put this property to auction, but such was the interest that it sold beforehand.  This is a good, prominently located, income producing investment.  With interest rates still low, demand from investors for this type of freehold investment property remains high,” says Mr Pritchard.

With offices in Worcester, Droitwich and Bromsgrove, GJS Dillon is a firm of Chartered Surveyors which offers a comprehensive commercial property service, including commercial agency, commercial property management, valuations, and building consultancy, and unrivalled geographical coverage, throughout Worcestershire and along the M5 and A38 corridors.  It can be contacted on tel. 01905 676169 or via www.gjsdillon.co.uk

Picture caption: 6 Old Street, Upton upon Severn, Worcestershire.