Leisure/hospitality for sale in Church Street, Ormskirk L39

Investment Opportunity

Location
The property is located within Ormskrik Town Centre fronting onto Church Street (A570), the main arterial route linking Ormskirk with nearby Aughton and Burscough via the A59. The immediate surrounding area consist of mixed use properties with residential/student housing, include a mixture of local, regional and national retailers in close proximity such as Morrisons and M&S to name but a few and approximately 0.7 miles south west to Edge Hill University.

The Property
The property is a three storey detached building of traditional brick construction under a pitched slate roof that has been extended to the rear. It is flat fronted and faces directly onto the pavement comprising a ground floor commercial shop unit currently trading as a Restaurant and fit out for this purpose with the upper floors and rear extension comprising self-contained student accommodation - 6 bed HMO, 4 bed HMO, 2 x 5 bed HMO with en suite and 3 x studios with access through main entrance contained within the gable end

Accommodation
We understand through internet enquries with information take from the Valuation Agency Office (voa) the ground floor commercial premises provides the following approximate areas and dimensions:-

Net Internal Area: 157.13 sq.m. (1,691 sq.ft.)

Tenancy Information
We understand the restaurant is currently let on a 10 year lease from 2015 at a current passing rent of £29,000 per annum with the HMO fully occupied (including the next academic year) producing a gross income of £177,800 per annum (collective income of £206,840. Further details available upon request.

Tenure
Freehold

Price
£1,700,000, reflecting a Gross Yield of 12.2%.

Rates
We understand through interest enquires the property has a rateable value of £19,500. Interested parties should make their own enquiry of West Lancashire Borough Council's Rating Department or rates.

EPC
The property has a Energy Performance Rating of D. A full copy of the EPC is available upon request.

Viewings
Strictly by appointment via the sole agents SK Real Estate (Liverpool) Ltd - Tel: Contact: Tom Pearson ()

what3words /// rocks.eagles.voter

Notice
Please note we have not tested any apparatus, fixtures, fittings, or services. Interested parties must undertake their own research into the working order of these items. All measurements are approximate and photographs provided for guidance only.