Summary - 72-73 MILL STREET,KIDDERMINSTER,DY11 6XJ DY11 6XJ
1 bed 1 bath Mixed Use
Immediate income with parking and re-let potential for hands-on investors.
Freehold mixed-use investment with retail and two flats
A substantial freehold mixed-use building on Mill Street, offering immediate rental income and rear off-street parking. The ground floor retail unit plus a one-bedroom flat and a larger four-bedroom duplex create a straightforward, easily managed portfolio with potential to increase income when relet.
Current gross rent equates to approximately £27,000 per year, with the shop let and the 4-bed duplex recently redecorated and carpeted ready for re-let at a projected minimum of £875 pcm. The brick-built Victorian façade and high ceilings in parts give character and curb appeal in an established town-centre retail and residential location.
Important considerations: the shop is let on a new six-year lease and there are only six years remaining on that lease term—many mortgage lenders may refuse to lend against the property as a result. Flood risk is assessed as medium and local crime is above average; these factors may affect insurance costs and tenant demand.
This property suits an investor seeking immediate cashflow and hands-on management, or a buyer prepared to refinance, renegotiate leases or carry out targeted refurbishment to lift rents. The freehold, no-VAT sale and available parking are practical advantages; budget for void periods, potential insurance and lender constraints driven by the short lease term.
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