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Town Centre Location
Large Detached Building
Car Park to Rear
Best & finals by 12 noon on Friday 4 June 2021
We are pleased to offer for sale a substantial detached investment property that is let for a 5 year term from 1st January 2021 at a current rent of £25,400 per annum on a tenants full repairing and insuring basis.
The property comprises a large retail showroom to the majority of the ground floor, together with an agency office to the remaining ground floor and office suites with wc and kitchen facilities to the first floor.
The property is situated within the heart of the Town Centre and enjoys vehicular access. It is close to an Asda Foodstore and opposite a Domino's Pizza take-away.
The whole property is let on a single Lease and we understand the Tenant sub-lets individual sections to the various occupiers.
The approximate layout is illustrated as per the attached plan.
There is a large car park included to the rear.
Location The property is situated on Widnes Road within Widnes Town Centre, equidistant between the Asda Food Store and the main pedestrianised retail area of Albert Road. Surrounding property is predominantly retail.
Accommodation Approx. Gross Internal Area
Ground: 225 m 2,422 ft First: 225 m 2,422 ft Total: 450 m 4,844 ft
Services Mains electricity, water and drainage are connected.
Tenancy Information The entire property is let for a term of 5 years from 1st January 2021 at a current rent of £25,400 per annum exclusive on a Tenants full repairing and insuring basis with a Landlord break clause at any time after 1st January 2024 and a tenant break clause on 1st January 2024 subject to 3 months prior notice. The Lease is excluded from the provisions of the Landlord & Tenant Act 1954.
Asking Price £275,000.
Yield The above asking price represents a net initial yield of 9% after taking into account purchase costs of 3%.
We are advised that the property is currently not registered for VAT.
For more information about this property, please contact Morgan Williams, WA2 on +44 1925 916968 * (local rate)
Contact Morgan Williams about this property
Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Morgan Williams, and do not constitute property particulars. Please contact Morgan Williams for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.