A COMMERCIAL building in Rhyl town centre is set to go under the hammer with a guide price of £500,000.
The corner premises at 66A High street and 1A Wellington Road, will go to auction with Savills on Tuesday, 23 June.
A mixed-use retail and residential investment opportunity, it is made up three commercial units, one of which is vacant, and four apartments.
The auctioneer said the vacant unit "provides immediate asset management potential" and the building currently produces an annual income of around £56,080.
Savills' listing states: "The property comprises a mixed-use retail and residential investment opportunity, occupying a prominent position on the principal retail thoroughfare in the coastal resort town of Rhyl, North Wales.
"Arranged over ground and upper floors, the property comprises three retail units and four self-contained flats. The retail accommodation includes 66 High Street, let to a barber shop with a lease expiry in August 2027, and 66A High Street, let to a newsagent, with the business having traded from the premises for approximately 20 years and a lease expiring in July 2028.
"The third retail unit at 1A Wellington Road, previously let at £14,000 per annum, is currently vacant, providing immediate asset management potential.
"The residential element comprises four flats, all let on periodic tenancies.
"The accommodation includes two one-bedroom flats each producing £700 per month, a two-bedroom flat generating £900 per month, and a three-bedroom flat producing £190 per week.
"The total current income is £56,080 per annum, reflecting an initial yield of 11.22% based on the guide price, with reversionary potential through letting the vacant retail unit and regularising the existing tenancies.
"Rhyl is a coastal town in North Wales, and the property benefits from a central position with frontage to High Street and Wellington Road, close to a range of national and local occupiers."
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