A substantial mixed-use property in Wales with an established income stream of nearly £30,000 per annum is going under the hammer in SDL Auctions Cheshire and North Wales’ first auction of 2018.
Liverpool House on Corwen Road, Pontybodkin in Mold has a guide price of £150,000+ and is one of 54 lots in the catalogue for the auction at Chester Racecourse on Tuesday 27 February.
The property is bringing in rent of £8,080 per annum from a hair salon and beauticians in two ground floor retail units, and another of £21,580 per annum from four one bedroomed flats on the ground floor and upper levels.
Edward Feather, senior valuer and auctioneer at SDL Auctions Cheshire and North Wales, said: “This property fronts onto Corwen Road, in a popular and convenient location with a good volume of passing traffic and within easy travelling distance of Mold, Wrexham and Chester.
“The income streams could be even higher if a vacant room is adapted as a bedsit, which would mean a total rent of £32,260 per annum – a very attractive yield of more than 20 per cent if the lot sold at the guide price.”
Over in Deeside, a retail property at 63 Chester Road West, leading through Shotton to Connah’s Quay, is included in the auction catalogue with a guide price of £50,000 to £70,000.
This large commercial lot is being sold with vacant possession and has a sales area measuring more than 68 feet in length, with an additional kitchen and toilet facilities.
Mr Feather said: “This is in good decorative order throughout and is surrounded by a number of independent and national traders including established food outlets such as Iceland and Wok & Go.”
And in Rhyl, a retail property at 5 Market Street let to a telephone repair shop for approximately £6,500 per annum has a guide price of £45,000+.
A pair of two bedroomed flats above this property at 5a Market Street, producing an annual income of approximately £8,400 per annum, are being sold with a guide price of £55,000+.
Mr Feather added: “We’ve got a great range of properties to suit the needs of all buyers, and we’re expecting a busy day in the auction room.”
The SDL Auctions Cheshire and North Wales auction takes place at Chester Racecourse on Tuesday 27 February.