We are pleased to offer for sale a fully Tenanted income producing commercial and residential investment opportunity.
The ground floor is let to a private individual that operates under a 'Nisa' retail franchise, for a term of 15 years from October 2017.
The ground floor accommodation comprises a large open plan shop floor together with stores and amenity to the rear.
The first floor provides 2 large separate self contained flats that are accessed from the rear, 1 x 2 bed and 1 x 1 bed.
The property is prominently positioned on the corner of West End Road and Burrows Street, within a well established residential
area, that is close to the main road junction with the A58 Blackbrook Road, which leads directly into St Helens Town Centre.
Ground - Retail (NIA) 180.3 m 1,941 ft
First - Flat 1 (GIA) 64.5 m 695 ft
First - Flat 2 (GIA) 77.0 m 828 ft
Mains electricity, gas, water and drainage are connected.
The ground floor is let for a term of 15 years from October 2017 at a rent of £14,000 per annum on a Tenants effectively full repairing and insuring basis. There are rent reviews in 2022 and 2027 and a Tenant break option in 2027.
The first floor flats are let on Assured Shorthold Tenancy Agreements at £300 and £350 pcm respectively.
The total current rental income received is £21,800 per annum.
This offers a net initial yield of 8.5% after allowing for purchase costs at 2.6%.
The property is registered for VAT, however, it is expected that the sale will be treated as a 'Transfer of a Going Concern' TOGC.
The Tenure is held Long Leasehold for a term of 999 years from 1876.
For further information or to arrange a viewing please contact Morgan Williams, 01925 414909.
Rob Bates RBates@morganwilliams.com
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