60 Duke Street, Douglas, Isle of Man, IM1 2AZ

£35,000 per annum excl.

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Key Features

FOR SALE / TO LET Popular Retail Business (Guide Price £150k) with Leaseback (Quoting Rent £35,000 per annum) Investment Property for Sale - 2,619 sq. ft – (Guide Price £450k reflect a Gross Yield of 7.78%).
  • Well established / popular bakery on the main thoroughfare of Douglas City Centre for sale at £150k.
  • Leaseback of prime located property upon completion of the business sale at £35,000 per annum.
  • Investment property for sale upon completion of the business sale and leaseback at £450,000, reflecting a gross yield of 7.78%.
  • Glass fronted shop with potential to convert upper floors to apartments under the Town & Country Planning (Change of Use) (Development) (No.2) Order 019 (As Amended)

Overview

DESCRIPTION
Three storey masonry building with ground floor shop and upper floor storage with potential to convert to apartments.
LOCATION
Duke Street forms part of the pedestrianised town centre area which leads directly into Strand Street. No. 60 can be found directly opposite the second entrance of Marks & Spencer on the left hand side
STEP 1
Business Sale of Pat A Cake Bakery – £150k.
STEP 2
Lease from Pat A Cake Bakery to Vendor at £35k per annum
STEP 3
Sale of Investment Property at £450k, reflecting a gross yield of 7.78%.
RATES
Douglas City Council: £2,128.27 (2026 / 2026)
Treasury: £2,672.80
LEASE TERMS/REPAIRING OBLIGATIONS
A new lease is available on effective FRI terms. Tenant to pay rates, insurance, utilities and service charge.
RENT REVIEWS
Standard three yearly upward only rent reviews.
SERVICES
Mains services are installed.
TENURE
Leasehold upon completion of the sale of the business. Freehold upon completion of the investment sale.
LEGAL FEES
Each party to pay their own legal fees.
VIEWING
Strictly by appointment through Black Grace Cowley.

At a Glance

  • Guide Price
    £450,000 OIRO
    Quoting Rent
    £35,000 per annum excl.
  • Status
    Available
  • Tenure
    Freehold or Leasehold
  • Type
    Business
  • Area (sq.ft)
    2,619

Contact the Agent

Contact the Agent

Ben Quayle

ben@blackgracecowley.com

01624 645550

Key Features

FOR SALE / TO LET Popular Retail Business (Guide Price £150k) with Leaseback (Quoting Rent £35,000 per annum) Investment Property for Sale - 2,619 sq. ft – (Guide Price £450k reflect a Gross Yield of 7.78%).
  • Well established / popular bakery on the main thoroughfare of Douglas City Centre for sale at £150k.
  • Leaseback of prime located property upon completion of the business sale at £35,000 per annum.
  • Investment property for sale upon completion of the business sale and leaseback at £450,000, reflecting a gross yield of 7.78%.
  • Glass fronted shop with potential to convert upper floors to apartments under the Town & Country Planning (Change of Use) (Development) (No.2) Order 019 (As Amended)

Recently Viewed Properties

60 Duke Street
Douglas

£35,000

  • Tenure
    Freehold or Leasehold
  • Type
    Business
  • Status
    Available
  • Area (sq.ft)
    2,619 - 2,619
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