68-72 Strand Street, Douglas

Oiro £2,250,000

Key Features

  • C. 10,416 sq ft. prime retail unit with ancillary storage.
  • Modern purpose built 3 storey retail unit with double height glazed frontage.
  • 10 year lease from July 2022 to Mountain Warehouse at an initial rent of £175,000 per annum reflecting a gross yield of 7%.
  • Prime trading position in the middle of the pedestrianised area of Strand Street.
  • Fitted-out to a high specification.

Overview

DESCRIPTION
The property comprises of a modern three storey
purpose-built retail unit designed to provide
sales accommodation on the ground floor and
first floor and staff facilities on the second floor.
The high quality design incorporates an
impressive double height glazed frontage with
large regular floor templates (no columns) of
approximately 4,000 sq ft. (GIA) linked by a lift
and bespoke sales staircase. Premises include
CCTV, staff finger print recognition and comfort
heating/cooling system.
LOCATION
The property is situated in Strand Street, the
main shopping street in Douglas town centre and
primary retail destination for the whole Island. In
addition to the Strand Centre, occupied by Sports
Direct and Flannels, nearby units include Next,
Monsoon, Clarks, Costa, Pandora, TK Maxx and
JD Sports as well as local retailers.
ACCOMMODATION
Ground Floor:
• Sales Area – Approx 3,535 sq ft.
First Floor:
• Sales Area – 3,359 sq ft.
• Ancillary space – 120 sq ft.
• WC’s
Second Floor:
• Stockroom – 2,976 sq ft.
• Staff Area – 426 sq ft.
• WC’s
GUIDE PRICE
We are instructed to seek offers in the region of
£2,250,000 for the freehold interest.
OFFERS
Our client is seeking offers for the freehold.
All offers should be submitted in writing and
include the following:
• Purchase price (excluding VAT).
• Identity of the purchaser, along with any
supporting information including experience
/ track record.
• Confirmation on funding. If third party
funding is required please provide full
details.
• Any conditions attached to the offer.
• The vendor reserves the right not to accept
the highest or any offer received.
LEASE TERMS
A new 10 year lease to Mountain Warehouse
beginning of July 2022 agreed. Break clause at
year 5. Initial rent is £175,000 per annum,
upward only open market rent review at year 5.

At a Glance

  • Price
    Oiro £2,250,000
  • Status
    Available
  • Tenure
    Freehold
  • Type
    Investment
  • Area (sq.ft)
    10,416

Contact the Agent

Contact the Agent

Ben Quayle

ben@blackgracecowley.com

01624645550

Key Features

  • C. 10,416 sq ft. prime retail unit with ancillary storage.
  • Modern purpose built 3 storey retail unit with double height glazed frontage.
  • 10 year lease from July 2022 to Mountain Warehouse at an initial rent of £175,000 per annum reflecting a gross yield of 7%.
  • Prime trading position in the middle of the pedestrianised area of Strand Street.
  • Fitted-out to a high specification.

Recently Viewed Properties

68-72, Strand Street, Douglas, IM1 2EW

£2,250,000

  • Tenure
    Freehold
  • Type
    Investment
  • Status
    Available
  • Area (sq.ft)
    10,416