Ballaquayle Road/Dukes Road Investment

£425,000

Overview

DESCRIPTION
An opportunity to purchase this attractive art deco style, recently refurbished investment property occupying a prominent corner position and comprising 3 ground floor shops and a first floor two bedroom residential flat, all let to individual tenants.  Works to the roof and flat etc., which include a new roof and sprinkler system in flat, have recently cost approximately £120,000 (a full list of works can be available upon request).

 LOCATION
Situated at the corner of Ballaquayle Road and Dukes Road on this busy road that links Broadway and the Promenade with St Ninians. Travelling up Broadway continue up and take the right fork at York Road, where the property will be seen on the right.

ACCOMMODATION
Shop One (Fishing Tackle)                                 Approx. 300 sq ft

Shop Two (Dave’s Delicious Dogs)                   Approx. 430 sq ft

Shop Three (Dukes Road Clinic)                      Approx. 315 sq ft

Laureston Flat (2 bedroom)                              Approx. 860 sq ft

Investment Details
The 3 shops produce a total rent of £20,960 pa whilst the flat is let at £8,700 pa, an overall rent income of £29,660 pa.
The leases are on internal repairing terms and the owner/landlord is responsible for external repairs, building insurance and the rates for the flat – (insurance and rates approx. £1,506 pa)
The shops are all on 10 year leases (expiry February 2021) – (No 2 has 5 or 10 years options to renew). Shop 3 has annual breaks. The Laureston Flat has a current 12 month lease.

Key Features

  • INVESTMENT PROPERTY FOR SALE
  • FULLY LET
  • Sale Price: £425,000 (Approx. 7% gross)
  • Gross Rental Income:  £29,660 pa excl.

At a Glance

  • Price
    £425,000
  • Status
    Available
  • Tenure
    Freehold
  • Type
    Investment

Key Features

  • INVESTMENT PROPERTY FOR SALE
  • FULLY LET
  • Sale Price: £425,000 (Approx. 7% gross)
  • Gross Rental Income:  £29,660 pa excl.

Contact the Agent

Contact the Agent

Sharon Gelling

commercial@blackgracecowley.com

01624 645550

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