Wylcwm Place, Knighton

Property Details: - Type: Property - Bedrooms: 1 - Bathrooms: 0

Agent: Cobb Amos - Land & New Homes Phone: 01584 539190

A rare opportunity to acquire the freehold building which includes a ground floor retail premises, six apartments, outside space and car park. Gross annual income in the region of £48,000 per annum providing a gross return of approximately 10% per annum. All properties currently occupied, high yield, low void periods.<br/><br/><b>Introduction</b> - After nearly 20 years ownership, our vendors are looking to sell this incredible investment opportunity. The building is substantially built and has been converted into 6 well proportioned flats on the first & second floors and a large retail unit on the ground floor that is leased to a Blue Chip retailer who has happily renewed their lease on numerous occasions. We have managed the flats for over 12 years and during that time, the void periods have been minimal and the tenants generally stay for long periods. The current rents are little below market value as the landlords have not increased the rents every years to avoid a higher churn rate. We are just issuing rent increases in line with RPR which will be effective in November 2026. Viewing has to be by appointment only so that we can arrange access with the tenants and the retailer.<br/><br/><b>Location</b> - Knighton is a vibrant market town uniquely positioned on the England–Wales border, often described as having one foot in England and the rest of its body in Wales. Known in Welsh as Tref-y-Clawdd ("Town on the Dyke"), it sits on the renowned Offa's Dyke Path, following the historic earthwork that once marked the border between the two countries. Surrounded by breathtaking countryside, Knighton offers rolling hills, ancient woodland and picturesque farmland stretching as far as the eye can see. The River Teme meanders through the town, adding to its peaceful charm and making it a popular destination for walkers, nature lovers and those seeking a quieter pace of life. Despite its tranquil setting, Knighton is a thriving community with an excellent range of everyday amenities, including independent shops, cafés, takeaways and a supermarket. The town is also served by the Heart of Wales railway line, providing convenient transport links. Local facilities include football and rugby clubs, primary and secondary schools, along with a variety of community groups and social activities. While Knighton has long been a popular choice for retirees, it also enjoys a strong sense of community, with generations of families calling the town home, creating a welcoming and active environment for residents of all ages.<br/><br/><b>The Property</b> - A substantial three storey building in the heart of the commercial area of the town and the self contained ground floor retail premises is occupied by Boots The Chemist and has been for many years as it is the only dispensing chemist in the town. Currently on a 5 year lease with a passing rent of £15,500 p.a. The upper floors are accessed from the rear of the building where there is a car park providing 1 space for each apartment. On the first floor are four 1 bedroom apartments and on the second floor two 2 bedroom apartments. They are well proportioned and equipped with modern kitchens & bathrooms, electric heating and the occupancy rate is very high due to the demand for modern apartments in the town.<br/><br/><b>Lease & Tenancy Information</b> - The ground floor retail premises measures approximately 168 sq. m (1800 sq. ft) and the 5 year lease started in 2024 with a passing rent of £15,500 pa (£1250 pcm)<br/>Flat 1 is a 1 bedroom apartment measuring approximately 35 sq. m (375 sq. ft) - existing tenant in occupation since 2018 with a current rent of £5100 pa (£425 pcm)<br/>Flat 2 is a 1 bedroom apartment measuring approximately 34 sq. m (360 sq. ft) - existing tenant in occupation since 2019 with a current rent of £4416 pa (£368 pcm)<br/>Flat 3 is a 1 bedroom apartment measuring approximately 33 sq. m (350 sq. ft) - existing tenant in occupation since 2025 with a current rent of £5400 pa (£450 pcm)<br/>Flat 4 is a 1 bedroom apartment measuring approximately 32 sq. m (340 sq. ft) - existing tenant in occupation since 2023 with a current rent of £4920 pa (£410 pcm)<br/>Flat 5 is a 2 bedroom apartment measuring approximately 52 sq. m (560 sq. ft) - existing tenant in occupation since 2022 with a current rent of £5580 pa (£465 pcm)<br/>Flat 6 is a 2 bedroom apartment measuring approximately 46 sq. m (490 sq. ft) - existing tenant in occupation since 2018 with a current rent of £5232 pa (£436 pcm)<br/><br/><b>Energy Performance Certificates</b> - 5 Wylcwm Place (Boots) - Commercial EPC rating B 47 - valid until Sept 2034<br/>Apartment 1 - Residential EPC rating D 65 - Valid until Apr 2029<br/>Apartment 2 - Residential EPC rating D 63 - Valid until Nov 2028<br/>Apartment 3 - Residential EPC rating D 64 - Valid until Apr 2029<br/>Apartment 4 - Residential EPC rating D 60 - Valid until Apr 2029<br/>Apartment 5 - Residential EPC rating D 66 - Valid until Nov 2028<br/>Apartment 6 - Residential EPC rating D 66 - Valid until Nov 2028<br/><br/><b>Viewings</b> - As all the properties are occupied & given the sensitive nature of the business running from the retail premises, all viewing must be booked in advance with at least 48 hours notice.<br/><br/>