15-21 Orchard Street, Fearnhead, Warrington, WA2 0PL

  • 1570 sq ft
Investment
£300,000

Multiple Unit Retail Investment Opportunity

Location

The property is situated in the well established residential area of Fearnhead, approximately 3 miles to the North-East of Warrington Town Centre.

Surrounding property is mainly detached and semi-detached bungalows along Orchard Street with a range of different sized housing along Fearnhead Lane which links Fearnhead Cross with Crab Lane.

Description

A single storey retail parade comprising four shops, three of which are currently tenanted with one vacant. The current occupiers are a Hairdressing Salon, Dog Groomers and a Dental Lab.  The vacant unit is large and would suit a variety of retail trades in particular a small convenience type operation.

The property benefits from a car park adjacent and a gated and fenced service yard to the rear for deliveries and staff vehicles.  The total site area extends to 0.12 hectares (0.30 acre). The entire site offers residential development potential, subject to planning permission.

The current rental income received from the three tenanted units is £18,400 per annum, however, the vacant unit should attract a rental of circa £12,000 per annum, offering a potential total estimated rental value of £30,000 per annum when fully let.

Accommodation

Approx Net Internal Areas.

15 Orchard Street 50.3 m² 541 ft²
17 Orchard Street 48.1 m² 518 ft²
19 Orchard Street 44.3 m² 477 ft²
21 Orchard Street 145.9 m² 1,570 ft²

Tenancy Information

Tenant Lease Expiry Current Rent  (per annum)
15 – Jayne Alexander Holding Over £7,200
17 – Todd Tuhey Holding Over £6,000
19 – Active Dental Lab Ltd 14 August 2017 £5,200
21 – Vacant N/A ERV £12,000

Sale Price

The quoted sale price for the entire property is £300,000 which represents a net initial yield of approximately 10% based on the ERV.

VAT

We understand that the purchase price will not be subject to VAT, however, for the avoidance of doubt the quoted sale price above is exclusive of VAT.

Tenure

Freehold.

Contact

Rob Bates – Rbates@morganwilliams.com

Josh Morgan – jsmorgan@morganwilliams.com

Brochure

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Contact Information:

Morgan Williams

Mobile: 01925 414909 Fax: 01925 637619

720 Mandarin Court, Centre Park, Warrington, WA1 1GG