Downpatrick
028 4461 3983
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45 Church Street, Downpatrick

Offers over £350,000
Investment Property

Key Information

Style Investment Property
Status For sale
Price Offers over £350,000

INVESTMENT PROPERTY WITH TENANTS UNAFFECTED

PROPERTY SUMMARY

* Long Leasehold retail investment

* 2 No retail units - Unit 3 "Oscars" £625 pcm, Unit 4 "Oh My Dog" £525 pcm

* 2 No Residential Units - 3 bed Semi Detached - No 45d £550 pcm/ No 45c £550 pcm 

TOTAL - RETAIL & RESIDENTIAL UNITS £27,000 PER ANNUM/£2,250 PER MONTH

* Offers in excess of £350,000 equating to a Net Initial Yield of 7.3% assuming purchasing costs of 6%

LOCATION

The property is located at No 45 Chruch Street in central Downpatrick and is characterised predominately retail and high denisty residential uses.

Retail unit occupiers include "O My Dog" Pet Supplies, "Oscars" Pizzeria

DESCRIPTION

The property comprises  a commerical block with 2 No retail units.  Each retail unit benefits from tenants own fit out, shop front & roller shutter and 2 Residential units/3 bed semi detached.

 

 

TITLE

We understand the property is LONG LEASEHOLD

ACCOMODATION (All areas are approx)

The property occupies a site of 235 sq metres with frontage to Church Street of 30 metres.  The retail units have been measured on a gross internal area basis as follows:

UNIT No                                      Area Sq Ft       Area Sq M

Unit 1 3 Bed Semi                                       880                   82

Unit 2 3 Bed Semi                                        880                   82

Unit 3 "Oscars" Retail Unit               860              80

Unit 4 "O My Dog" Retail Unit      895              83

PROPOSAL

We are instructed to seek offers in excess of £350,000, excluding VAT, which reflects a Net Initial Yield of 7.3% assuming purchasers cost of 6%

APPOINTMENT TO VIEW

Please contact us on 02844 613983 or email office@peterfitzpatrick.co.uk