Wrexham, LL11 1NL

Under Offer
Property Details

Wrexham, LL11 1NL

Under Offer
Description

LOCATION

Wrexham is the largest town in North Wales and is located approximately 12 miles south of Chester and is accessed via the A483, one of the main trunk roads linking North to South Wales. The town also benefits from two railway stations with direct links to Chester and Shrewsbury.

DESCRIPTION

The property comprises of a part 3 storey, part 4 storey building with car parking to the rear totalling approximately 27,500 sq ft on a site of 0.35 acres. The ground floor fronting Lord Street is let to likes of Co-Op and RBS, the Egerton Street office is let to CAIS and the upper floors mostly vacant. A full tenancy schedule is overleaf.

Planning permission was recently granted to convert the upper floors into 21 bed sits while there are 2 offices which were previously apartments giving a total of 23 units. The WCBC reference is P/2015/0272. There is no requirement within the residential planning permission for car parking, section 106 or CIL.

The property in question is directly opposite the bus station. The bus station isaround 10 years old and is the main and only bus station for the Wrexham area.
Across from the property is the Council’s main office for Wrexham. This adds to the footfall within the immediate vicinity increasing the demand for shops.

UP AND COMING AREA

We have received a letter of intent from a large Manchester based developer who have recently purchased the former BHS site located in Wrexham Town Centre. [This can be viewed upon request].

They have confirmed Wrexham Council is beginning a development of Wrexham Art Hub to contain cinema, cafés and theatre. In response to this they are converting the former BHS building to 25 residential apartments.

 

CURRENT FIGURES

  • On the Market for £1,750,000
  • 85.5% of the rent secured against CO-OP, Cats Protection and RBS
  • Purchase Price: £1,450,000
  • Current Income: £135,500
  • Current Yield: 9.3%

 

CONVERSION FIGURES

  • 14,872 sqft of Vacant Office Space on Uppers
  • Planning for 23 Self-Contained Flats
  • Estimated Conversion Costs: £500,000
  • Estimated Rental Value: £109,020
  • Estimated Yield on Conversion: 21.8% 

 

 

Property Features
Rural Features

Amco Management

T: 0161 773 3978

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