101 Mostyn Street is an attractive freehold grade II listed retail investment occupying a prominent location in the heart of the popular tourist destination of Llandudno.
With a guide price of £575,000 – £600,000, the property offered a gross initial yield of circa 11.3% and a rental income of £65,000 p.a.
The property is situated on the east side of Mostyn Street, at its junction with Market Street. Occupiers close by include Barclays Bank, Sainsbury’s Local, Halifax, Mountain Warehouse, Card Factory, Poundland and Caffe Nero, amongst others.
The entirety of the property is currently let to WH Smith Retail Holdings Ltd until 2027, and comprises a total of 819.49 sq m (8,821 sq ft). The tenant has first floor sales space and there is a passenger lift between ground and first floors.
The accommodation in more detail comprises:
Ground Floor 365.02 sq m/3,929 sq ft.
Lower Ground 134.40 sq m/1,447 sq ft.
First Floor 250.07 sq m/2,692 sq ft.
Second Floor 70.00 sq m/753 sq ft.
The current occupying lease is for 5 years from 30.05.2022 with a current rent passing of £65,000 p.a., and an opportunity for the client to review again in in 2027,
Louis Taylor successfully represented a managed client in the successful acquisition process of the above retail investment at Allsop’s auction. Why not get in touch if you are looking to secure commercial property to meet your business needs? As North Staffordshire’s leading commercial property agent, we can provide you with proven market knowledge and practical, commercially minded advice.
Call us on 01782 260 222 or email info@louis-taylor.co.uk