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Market Street, Wem, Shrewsbury 7 bed detached house for sale
Market Street, Wem, Shrewsbury
£385,000
Market Street, Wem, Shrewsbury
£385,000
Our Summary
- However, most tenants have been long standing, and the individual rents have scope to be increased to be in line with market value, which is likely to produce a potential yield of circa 7%
Description
This beautifully renovated former chapel has been converted into four apartments, each with its own unique character and original features. Located in the heart of a popular market town, the apartments are just a short walk from amenities and the train station, providing easy access to Shrewsbury and Crewe. The apartments are currently let on assured shorthold tenancies, generating a rental income of £24,720 per annum, with potential for individual rent increases to boost the yield to around 7%. Each apartment has its own private inner hallway, kitchen, and living/dining area, with features such as stained-glass windows, curved walls, and multiple windows. The building also has a communal entrance hall, restored feature windows, and a separate bin/bike store. Additionally, the current owner has an agreement with the conservative club next door, allowing each apartment to have its own parking space, which could be transferred to the next buyer.