Summary - MEDINA VILLAS, 82 - 84 FLAT D NEWLAND STREET WITHAM CM8 1AH
1 bed 1 bath Commercial Property
Income-producing property with reversionary potential in central Witham.
Freehold mixed-use building with retail and two flats
A rare freehold investment in the heart of Witham town centre, this Grade II listed Georgian property combines a fully glazed ground-floor retail unit with two self-contained flats above. Constructed in 1841, the building retains period brickwork and timber sashes while providing a modern shopfront and good natural light across upper-floor rooms. The site totals approximately 1,576 sq ft and sits on a decent-sized plot close to local amenities and transport links.
Income is in place from a new 7-year full repairing and insuring commercial lease starting March 2025, with graduated rent from £11,000 to £12,000 pa, plus two ASTs at £900 pcm each expiring in 2026. Broadband speeds are fast and mobile signal excellent, supporting retail or serviced-use occupiers. The location benefits from nearby schools and a broad range of town-centre facilities that support letting prospects.
Important considerations: the Grade II listing will restrict alterations and likely require listed-building consent for works, which can add time and cost. The property is in an area with a higher crime rating, which may affect tenant mix, insurance and security requirements. Some internal features and services may need updating to meet modern standards and the full repairing and insuring lease places maintenance obligations on the commercial tenant; buyers should review the occupational tenancies and future reversionary potential carefully.
This proposition suits an investor seeking steady town-centre income with medium-term asset management upside. With established tenancies in place and scope to optimise rental value on expiry, the building offers hands-on and passive investment routes, subject to listed-building constraints and local market dynamics.
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