531 Prescot Road, St Helens, Merseyside WA10 3BY

  • 1536 sq ft
Retail
£415,000

Mixed Retail and Residential Investment Premises – For Sale

Location

The property is prominently situated fronting Prescot Road in a well regarded residential area fronting a busy main road, just outside of St Helens town centre.

The building is located in a popular residential area, a short drive from the town centre along Prescot Road.

St Helens has a population of 175,308 (2011 Census) the age structure of the population reflects the national trend of an aging population with 61.8% of the population being of working age (gov UK).

Description

The asset comprises of a high quality mixed retail/residential investment on a busy through road, just outside of St Helens town centre.

The property forms a two storey detached building with roadside parking at the front. The ground floor comprises a modern retail sales area with storage and accommodation towards the rear of the building.

The first floor is split into two 2 bedroom residential flats with access from the rear.

Prior to Mcolls the ground floor was a Co-op convenience store for a number of years, the premises includes an established Post Office.

Accommodation 

The property has the following net internal areas measured in accordance with the RICS Code of Measuring Practice.

Ground Floor: 142.7 m2 1,536 ft2
First Floor: The first floor is made up of two seperate 2 bedroom flats.

Tenure 

Understood to be Freehold.

Retail Tenancy

The current ground floor tenancy is held on a 10 year lease at a commencing rental of £16,000 per annum from 30/05/17 with a rent review and break clause after five
years.

Residential Tenancies

The first floor flats are let on Assured Shorthold Tenancy Agreements at £450 and £425 per calendar month respectively.

Tenant Covenant

McColl’s currently operates 1,650 stores, comprising 1,292 convenience stores and 358 newsagents

VAT

Our client advises that VAT is not applicable to the property.

Proposal

We are instructed to ask £415,000 exclusive of VAT showing a net initial yield of 6.12%.

EPC

EPC available upon request

Contact 

Rob Bates: RBates@morganwilliams.com

Joshua 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