Significant retail investment opportunity up for grabs in YorkshireÂ
Touted as one of the top scoops of John Pye Property’s monthly online auction, the property occupies a prominent position in Barnsley town centre on the corner of Market Hill and Eldon Street.
As the population of Barnsley is on the rise, the town centre is a prime location with a mixture of national and local retailers situated on the high street. This ground floor property has bags of potential for a new retailer to snap up – it currently has an open plan shop floor with a small kitchen and staff area.
The property is valuated at a guide price of £600,000 with a new FRI lease for 15 years granted to Paddy Power. The passing rent is £35,000 per annum. It will be auctioned at John Pye’s January sale taking place on Wednesday 24 and Thursday 25 January.
Richard Reed MRICS, head of property at John Pye Property, said:
“This is a great opportunity to secure a town centre retail investment let on a long lease to a very strong company. With a gross yield of 5.83% this could prove an excellent investment to any investors over the term of the 15 year lease.”
“Located in the heart of Barnsley, nearby occupiers to the property include national brands such as Nationwide, Natwest and Marks & Spencer.”
Online auctions are fast becoming a conventional way to buy and sell properties and more people are using the method to boost their property portfolio.
“Our unique expertise across online auctions means the way we sell property online is a real unique selling point for vendors and is distinctive across the industry,” Richard added.
“The John Pye online property auction has grown significantly since its inception and with monthly online auctions there is constantly new property stock being offered to the market.”
John Pye Property regularly features properties from across the UK including residential, commercial and buy-to-let properties. Its latest monthly online property auction will go live on Wednesday 24 and Thursday 25 January.
Visit www.johnpye.co.uk/property-auctions to bid or phone 0115 970 6060 for more information. Viewings are available by appointment.