Summary - Flat 6, 22 Wallgate WN1 1JE
1 bed 1 bath Commercial Property
Income-producing Victorian building with recent upgrades and town-centre footfall.
- Producing £27,000 per annum across retail and duplex apartment
- Guide price £240,000 — approx. 11.25% gross yield
- Freehold, three-storey Victorian mid-terrace, recently refurbished
- Ground floor sales 353 sq ft; basement 275 sq ft (retail space)
- Listed status — restrictions and consent likely for works
- Sold at auction — binding purchase obligations and fees
- Electric room heaters and likely uninsulated solid brick walls
- Separately metered shop and flat; AST and 5-year commercial lease
A centrally located, fully let commercial and residential freehold producing £27,000 pa — a strong gross return against a guide price of £240,000 (approx. 11.25% gross yield). The three-storey Victorian mid-terrace has been recently refurbished with a new shopfront, superfast broadband, E-mist fire protection and a camera entry system; the retail unit and duplex flat are separately metered and currently let on conventional terms.
This lot will be sold at auction and carries listed status, which may restrict alterations and require specialist consent for works. The property benefits from long-term town-centre footfall and many national occupiers nearby, making the retail tenancy appealing, but buyers must be prepared for the legal and practical obligations of an auction purchase and to consult the legal pack for lease details and additional costs.
Practical considerations: the building uses electric room heaters and has solid brick walls likely without insulation, which could impact energy costs and tenant demand long-term. Recent refurbishment reduces immediate repair needs, yet listed status and electric heating mean further investment may be required to improve energy performance or carry out permitted alterations. This lot is best suited to investors seeking an income-producing, central asset and able to purchase at auction with the usual auction conditions.
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