DescriptionThe property comprises a mid-terrace two storey mixed-use building. The ground floor is laid out to provide for a refurbished self-contained retail unit. The retailing accommodation is predominantly open plan with storage and staff w/c facilities situated to the rear.
The first floor is accessed via separate entrance fronting onto Kilbarrack Road. The accommodation is currently in use as a hairdressers and beauty salon and is laid out in a mixture of open plan and self-contained treatment rooms.
The entire extends to approximately 2,453 sq.ft.
The ground floor is leased to McHugh Limited for a term of 35 years from 1st December 1987. The current passing rent is �?�48,000 per annum.
The first floor is leased for a term of 5 years from 27th March 2017 at a stepped rent of years 1 & 2: �?�12,000, years 3 & 4: �?�13,000, year 5: �?�14,000.
The total passing rent equates to �?�61,000 per annum.
We understand the property is held freehold.
We understand all main services are connected and supplied to the building.
Offers are sought in excess of �?�650,000 exclusive.
Accommodation* All intending purchasers are specifically advised to verify all floor areas and undertake their own due diligence.
FeaturesHigh profile mixed use investment situated on the Kilbarrack Road
Immediate net initial yield of 8.53
Total floor area of approximately 227.8 sq.m (2,453 sq.ft)
Generating a rental income of �?�61,000 per annum
Tenants not affected