22/23 Queen Street, Wrexham LL11 1AL

Description

The property is arranged over basement, ground and one upper floor to provide a shop with ancillary accommodation. Entirely let to Done Brothers (Cash Betting) Limited until 2028. Future development potential subject to all necessary consents. VAT is applicable.

Accommodation

Basement – 58.30 sq m (628 sq ft); Ground Floor – 105.10 sq m (1,131 sq ft); First Floor – 128.89 sq m (1,387 sq ft); Total – 292.29 sq m (3,146 sq ft).

Location

Situated on the east side of Queen Street, close to its junction with Henblas Street, Wrexham. Nearby occupiers include Sports Direct, Holland & Barrett, Greggs, Barclays, Vodafone, Warren James, Game and Boots Opticians.

Tenure / Property Information

Investment Analysis

The strongest evidence is the same property, 22–23 Queen Street, which sold for £325,000 on 7 June 2024. The £260,000 guide is £65,000 below that completed sale. A nearby 21 Queen Street sale at £154,000 in July 2026 is not treated as directly equivalent because it is a different property. A base GDV of £325,000 is therefore used, but VAT, buyer costs and any valuation impact from the lease expiry are not quantified.

Investment Snapshot

Strategy Recommendation

Income-led commercial hold/BTL, subject to satisfactory review of the FR&I lease, tenant covenant, VAT treatment and valuation. The guide appears attractive against the same-property 2024 sale, but lease expiry and commercial lending considerations are material.

Works Required

No refurbishment works are evidenced. The property is occupied under an FR&I lease, so analysis assumes no works allowance. Any future development potential remains subject to the necessary consents.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the guide as the purchase figure and no evidenced works allowance, total acquisition cost is £260,000 before VAT and other charges. A 75% refinance against the £325,000 base GDV would be £243,750, leaving indicative capital of £16,250 before finance, tax, VAT and transaction costs. This is dependent on lender acceptance of the betting-office use, tenant, lease term and valuation.

Buy-to-Let Analysis

The property produces stated passing rent of £35,000 per annum from Done Brothers (Cash Betting) Limited under an FR&I lease stated to run until 2028. At the £260,000 guide, the gross yield is approximately 13.46%; against the £325,000 same-property 2024 sale, it is approximately 10.77%. These are gross figures before finance, tax, insurance, management, legal costs and VAT. The lease expiry and tenant covenant require review.

Flip Analysis

A same-property completed sale at £325,000 provides the supported base GDV. On the guide price, the gross difference before selling costs, VAT, finance, tax and other costs is £65,000. No refurbishment requirement or selling-cost allowance is evidenced, so a formal flip surplus is not calculated.

Investor Risks & Due Diligence

• The lease is stated to run only until 2028, creating renewal, vacancy and reletting risk.

• VAT is applicable, but the amount and recoverability are not supplied.

• Buyer, administration and other seller or third-party charges are unspecified.

• Betting-office use may affect lender appetite, valuation and future reletting.

• The rent is stated passing rent under the lease and is not an independently verified market-rent assessment.

• Future development potential is subject to all necessary consents.

• The base GDV relies principally on one same-property sale from June 2024.

Recommendation

Income-led commercial hold/BTL, subject to satisfactory review of the FR&I lease, tenant covenant, VAT treatment and valuation. The guide appears attractive against the same-property 2024 sale, but lease expiry and commercial lending considerations are material.

Strategy Rating

Analysis Confidence

Evidence includes a direct same-property completed sale, stated rent, lease term, tenure and occupancy. Confidence is reduced because VAT, buyer/admin fees, lease details, finance terms, EPC and operating costs are not supplied, and no independent yield evidence is available.