Ballaquayle Road/Dukes Road Investment

£425,000

Key Features

  • INVESTMENT PROPERTY FOR SALE
  • Sale Price: £425,000 (Approx. 7% gross)
  • Gross Rental Income:  £29,660 pa excl
  • (Subject to RPI increases at review)

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 (Tuck Inn Food)                                 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 gross rental income of £29,660 pa. Landlord’s rates (the flat) and buildings insurance totals £1555. 3-year rent reviews subject to RPI increases.

The leases are on internal repairing terms and the owner/landlord is responsible for external repairs, building insurance and the rates for the flat.

Shops no. 1 and no. 2 have recently been let on new 10-year leases from September 2020 & February 2021 with tenants break after 5 years. Shop no. 3 is let for 5 years from February 2021 with annual tenant breaks.

At a Glance

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

Contact the Agent

Contact the Agent

Sharon Gelling

sharon@blackgracecowley.com

01624645550

Key Features

  • INVESTMENT PROPERTY FOR SALE
  • Sale Price: £425,000 (Approx. 7% gross)
  • Gross Rental Income:  £29,660 pa excl
  • (Subject to RPI increases at review)

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