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.
Sold
Sold
