03/22/2019 - 11:29
£365,000 (subject to contract and exclusive of vat)
617-619 Lord Street, Southport, PR9 0AN
The property comprises a retail shop with a glazed canopy on the ground floor and two recently refurbished two bedroomed apartments on the first and second floors, separately accessed via a side passageway.
|Price||£365,000 (subject to contract and exclusive of vat)|
|Address||617-619 Lord Street, Southport, PR9 0AN view on map|
|Tenure||Claire House will on completion of the sale enter into for a new ten year leasey 2015 at a rental of £17,000 per annum with a fixed uplift at the end of the fifth year to £18,500 per annum. The lease is drafted on effectively Full Repairing and Insuring terms. The apartments are let on shorthold tenancies as follows: First Floor let at £500 per month Second Floor let at £575 per month|
The property is situated at the northern end of Southport’s prime retail location Lord Street, a Victorian canopied Boulevard. Southport is located 17 miles north of Liverpool and 15 miles south of Preston city centres and has a population of over 90,000.
|Room||Area (sq m)||Area (sq ft)|
|2017 Draft Valuation||£11,000|
All prices and rentals quoted are exclusive but may be liable for VAT.
Other InfoINVESTMENT SUMMARY - Located in Southport an affluent town north of Liverpool - Let to Claire House a charity operating 27 Shops throughout the north west of the UK, together with two apartments. - Total Annual Income £29,900 rising to £31,400 after five years. - Price £365,000 (subject to contract and exclusive of vat) - Net Initial Yield 7.82% after allowing usual end purchasers costs of 4.75%
Residential / Commercial Management
T: 0151 647 9272