The property is situated in a prominent position on Mill street, just off the main A34 ringway on the edge of Cannock town centre and the connecting A4601.
Cannock town is the most populous of three towns in the district of Cannock Chase and located in the central southern part of the county of Staffordshire, in the West Midlands.
The area benefits from a wide range of local amenities, including Cannock Chase Hospital, Cannock shopping centre, supermarkets, pubs, restaurants and other similar retail outlets, as well as a wide range of leisure facilities.
There are excellent local transport links within the area and Cannock Railway station is located just 0.3 miles south east of the property and can be accessed within 10 minutes on foot.
A spacious grade II listed mixed use property, arranged as a ground floor retail unit with the first and second ideal for residential development having planning consent for three, two bedroom flats.
The ground floor retail unit is double fronted, with window display space to the front elevation. Internally the property comprises, main retail/shop floor area, separate office, customer WC, and kitchen area.
The first and second floors are currently arranged as eleven offices, There is full planning consent for conversion into three two bedroom flats. Each flat will consist of two bedrooms, living room, fitted kitchen and bathroom/ WC.
Externally the property boasts a driveway to the side elevation leading to rear with allocated parking for 14 vehicles.
We understand the property has mains electric, water and drainage.
We estimate the ground floor retail unit will let for approximately £20,000pa.
Once the works have been completed to the first and second floors we estimate that each flat could achieve approximately £100,000 on the open market.
If refurbished and rented the properties could achieve approximately £550 per calender month per flat (£6,600 pa pf).
Representing a potential gross combined income of £39,800 pa. This would provide a potential gross yield of 15.92%
Cannock Chase Council – Planning Ref: CH/16/122
We are advised that planning permission was granted on 20th July 2016.
Please contact Cannock Chase District Council.
Please note an inspection of these premises have not been undertaken.
To view this property, please contact John Pye Property – firstname.lastname@example.org – 0115 970 6060
8 Mill Street
✓ Spacious retail premises
✓ Vacant Possession
✓ High yielding investment potential 15.92%
✓ Double fronted
✓ Conveniently located on the outskirts of Cannock town centre
✓ Grade II listed building
✓ Recently renovated showroom
✓ Allocated parking for ten vehicles
✓ Close to other amenities
✓ Excellent passing footfall
✓ Good transport links
Phone: 0115 970 6060
Our Ref: PR269