The property is situated on the outskirts of Prescot Town Centre within an established residential area.
The property is situated on the corner of Warrington Road and Queens Road in a prominent position.
The property comprises a large ground floor retail convenience store, that is let to Martin McColl Limited until November 2020. The upper floors comprise 4 separate self contained flats that are let on Assured Shorthold Tenancy Agreements.
The ground floor rent was last varied in 2005 to the current level of £17,000 per annum, which equates to just £8.29 psf overall. This offers scope to increase the rent at lease renewal in 2020.
We consider there is further scope to improve the rental of with the flats, that should be achieving a minimum of £400 per calendar month each.
The property offers a very attractive investment opportunity, combining a high quality covenant retailer with 4 separate flats, in this genuinely improving area.
Mains electricity, water and drainage are connected.
The property is held on three separate titles, one freehold, one 999 year Leasehold and one 990 Leasehold.
The above asking price represents a gross yield of 6.67% allowing for purchasers costs of 5%. However this does not factor in the opportunity for the obvious rental growth, which could increase to circa £40,000 per annum in 2020, this would improve the gross yield to circa 7.62%.
Bar Cafe Car Sales Detached House Building Plots Development Industrial Investment Land Leisure Office Residential Restaurant Retail Serviced Offices Showroom Storage Warehouse Workshop
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