86 Station Road North, Fearnhead, Warrington, WA2 0QG

  • 1516 sq ft
Investment
£160,000

Dental Practice Investment – For Sale

Description

The property comprises a two storey, semi detached tenanted dental surgery with driveway and small front garden.

Internally the ground floor provides a reception area, consultation rooms, a small store room, offices and WCs. To the first floor there are additional consultation rooms and offices.

Location

The property is prominently positioned on Station Road North, close to its junction with Fearnhead Lane. Approximately 3 miles to the north east of Warrington Town Centre.

The surrounding area is predominantly residential in character, with commercial properties situated along Fearnhead Lane which include a Co-op Food Store, Fearnhead Cross Medical Centre and The Farmers Arms Public House.

Junction 21 of the M6 Motorway is 3 miles to the south east of the subject premises.

Accommodation

Net Internal Area

Ground:  99.8 m²    1,074 ft²

First:    41.1 m²  442 ft²

Total:  140.9 m²  1,516 ft²

Rates 

Rateable Value: £10,750

Rates Payable 2020/21: £5,364.25

Tenants who qualify will be able to claim Small Business Rate Relief, meaning they will have a £zero rates bill.

Rental 

£14 per ft². Incentives available.

Tenancy Information

The property is leased by way of a 15 year FRI Lease to Whitecross Dental Care Limited, expiring in April 2026. The next Tenant Break Option is in April 2023 and there are 5 yearly rent reviews.

Whitecross Dental Care Limited were incorporated in 1929. Their most recent accounts up to March 2019 show a Gross Profit of circa £63 million.

Sale Price  

£160,000.

The sale price equates to a Net Initial Yield of 6.1%, reflecting purchasers costs of 2%.

Tenure 

The property is held by way of a Long Leasehold with a term of 999 years commencing from 25th March 1894.

Legal Costs

Each party to be responsible for their own legal costs incurred in this transaction.

Contact

Malcolm Morgan [email protected]

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Contact Information:

Morgan Williams

Mobile: 01925 414909 Fax: 01925 637619

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