32-40 Regent Street, Runcorn, Cheshire WA7 1LJ

  • 1706 sq ft
Investment
£230,000

Tenanted Investment Property – For Sale 

Description

The property comprises an adjoining terrace of three shops together with separately accessed first floor flat.

The properties are fully occupied and income producing with established tenants trading as; locksmith, hair and beauty and barbers shop with domestic residence above.

Each of the properties are self-contained with independent access.

Regent Street is a popular location for small businesses and there are currently very few vacancies.

Location

The property is well positioned on the central section of  Regent Street within Runcorn Old Town Centre where surrounding property is predominantly retail and on-street parking is available along this one-way street.

Runcorn Old Town is popular with traders and is home to various national retailers such as the Co-op and Costa Coffee.

Accommodation

32 – Locksmith – 66.4 m² (715 ft²) – Ground and first floors.

34 – Hair & Beauty – 44.7 m² (481 ft²) – Ground floor only.

40 – Barbers – 47.4 m² (510 ft²) – Ground floor only.

 36 – First floor Flat – 2 bedroomed living accommodation.

Tenancy Details

32 – Leased to a private individual (locksmith) who is holding over at a rent of £7,000 per annum.  This tenant has been in occupation for the past 20 years.

34 – Leased to Mango Hair & Make Up Limited until 9th December 2022 at a rent of £5,200 per annum.

36 – 1st floor flat let by way of an Assured Shorthold Tenancy Agreement since May 2016 at a rent of £4,430 per annum.

40 – Leased to Jared & Co Barbers Limited until 27th July 2020 at a rent of £5,240 per annum.

The total current gross rental income received is £21,870 per annum.

Sale Price

£230,000.

Yield 

A purchase at the above figure reflects a net initial yield of 9.27% after taking into account purchase costs of 2.6%.

Tenure

Freehold held on three separate Titles.

Contact

For further information or to arrange a viewing please contact Morgan Williams, 01925 414909.

Rob Bates [email protected]

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Contact Information:

Morgan Williams

Mobile: 01925 414909 Fax: 01925 637619

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