2 Smithy Fold, Glossop, SK13 8DD

Description

A standalone, single-storey retail investment let to High Peak Cycles on a new three-year lease producing £13,400 per annum. The stone-fronted premises have distinctive green signage and a shuttered frontage. Offered with the tenant in situ, the property provides an opportunity to acquire an income-producing commercial unit.

Accommodation

Ground floor commercial unit; standalone, single-storey retail premises

Location

Smithy Fold is situated just off High Street East in Glossop town centre, close to independent shops, cafés and national retailers. An M&S Foodhall is located on Smithy Fold, while Glossop Market Hall and the railway station are also nearby.

Tenure / Property Information

Investment Analysis

The £125,000 starting bid equates to an indicated gross yield of 10.72% on the stated £13,400 annual rent. The £94,000 June 2025 sale at 5 Smithy Fold is relevant location evidence but is a different property description and does not establish the value of this standalone retail unit. No reliable GDV range or maximum bid can therefore be supported from the supplied evidence. Auction, legal, finance and other acquisition costs are not provided.

Investment Snapshot

Strategy Recommendation

Treat as a commercial income investment only if the lease, tenant covenant, repairing obligations, EPC and acquisition costs are satisfactory. Do not bid above a separately calculated limit based on verified net income and commercial valuation advice.

Works Required

No refurbishment works are evidenced. Confirm condition, services, statutory compliance, EPC, repairing obligations and any lease-related expenditure before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

The purchase and rent are identifiable, but no supported GDV, refurbishment budget, valuation yield or refinancing terms are available. A 75% GDV refinance and cash-left-in calculation cannot therefore be completed. The long stated leasehold term is positive, but the three-year occupational lease creates a reletting or renewal decision within the term.

Buy-to-Let Analysis

This is a commercial, tenant-in-situ investment rather than a residential BTL. The stated passing rent is £13,400 per annum on a new three-year lease, equivalent to £1,116.67 pcm, with advertised rental evidence of £1,150 pcm. At the £125,000 guide, the gross yield is approximately 10.72% before costs, tax, finance, voids and landlord liabilities. Net yield cannot be established because costs and lease terms are incomplete.

Flip Analysis

A flip analysis is not supported. The property is income-producing commercial premises with a tenant in situ, while no supported resale GDV, works budget, selling costs or vacant-possession assumptions are provided. The supplied £94,000 comparable is not sufficiently matched to establish a resale value.

Investor Risks & Due Diligence

• The occupational lease is stated to run for only three years, creating renewal, reletting and void risk.

• Tenant covenant, payment history and lease security details are not supplied.

• Lease terms such as rent review, break rights, repairing obligations, service charge and insurance responsibilities are not supplied.

• Buyer premium, administration charge, legal costs, finance costs and other acquisition costs are not supplied.

• Condition, EPC, heating, parking and statutory compliance information are not supplied.

• The property is leasehold, although 852 years are stated to remain, and ground rent or other lease liabilities are not provided.

Recommendation

Treat as a commercial income investment only if the lease, tenant covenant, repairing obligations, EPC and acquisition costs are satisfactory. Do not bid above a separately calculated limit based on verified net income and commercial valuation advice.

Strategy Rating

Analysis Confidence

Passing rent, lease duration, tenure, use and guide price are supplied, but there is no EPC, detailed lease information, tenant covenant, cost schedule, fees, condition report or directly comparable completed sale for the subject unit.