Mixed Use Town Centre Investment Opportunity
Price £550,000
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Type
Status
Investment
For Sale
Location
Enniskillen is located approximately 75 miles South West of Belfast and is a major provincial centre with a catchment population of in excess of 55,000 people. Enniskillen is a major retail destination providing Fermanagh's main shopping facilities and benefits from significant tourist and cross border trade.
The unit occupies an excellent position on High Street close to its junction with Paget Square, with nearby occupiers including Halifax, Little Wing, Savers, Santander, Vogue, Specsavers, Caffe Nero and Gordons Chemists.
The towns main car parking facilities are close by.
Description
The property, a four storey mid-terrace building with a significant three storey extension to the rear, is of traditional construction with rendered front and rear elevations, part pitched slate and flat roofs and Upvc double glazed windows. It comprises a ground floor retail unit fronting onto High Street with 5 no. flats accessed from the rear via Broadmeadow Place.
24 High Street (Retail Unit) - Let to Progressive Building Society, the unit is fitted out to provide a modern banking hall with ancillary office, storage, kitchen and WC facilities. Finishes include plastered & painted walls, suspended and plastered ceilings with recessed and surface mounted lighting, carpeted and laminate floor coverings and a double glazed powder coated aluminium framed shopfront.
Flat 1 (Lower GF Rear) - 2 bed, 1 reception with separate kitchen, shower room (electric shower, wc & whb), electric heating and wood burning stove. Finishes include plastered & painted walls and ceilings, laminate floors.
Flat 2 (1F Rear) - 2 bed, 1 reception/kitchen-diner, shower room (electric shower, wc & whb), electric heating. Finishes include plastered & painted walls and ceilings, laminate floors.
Flat 3 (1F Front) - 2 bed, 1 reception/kitchen-diner, bathroom (electric shower over bath, wc & whb), electric heating. Finishes include plastered & papered/painted walls and ceilings, laminate floors.
Flat 4 (2F) - 2 bed, 1 reception/kitchen-diner, shower room (electric shower, wc & whb), electric heating. Finishes include plastered & papered/painted walls and ceilings, laminate floors.
Flat 5 (3F) - 1 bed, 1 reception/kitchen-diner, bathroom (electric shower over bath, wc & whb), electric heating. Finishes include plastered & painted/papered walls and ceilings, laminate floors.
Tenancies
The GF retail unit is let to Progressive Building Society on a 10 year effective full repairing & insuring lease (excluding latent & inherent structural defects) at a rent of £27,000 p.a.x. from 27.5.2020, subject to an upwards only rent review & Tenant break option on 27.05.2025.
Flats 1 to 5 are currently let to private tenants at a combined total rent of £26,300 pax.
Please see attached brochure for detailed Tenancy information.
Title
We are advised the property is held Freehold.
Price
Offers in the region of £550,000 exclusive, subject to contract.
EPC
Retail Unit: C72.
Flat 1: E44 / Flat 2: G15 / Flat 3: E42 / Flat 4: E44 / Flat 5: F22.
Copies of the full certificates are available on request.
VAT
Please note all prices, rentals and outgoings are quoted net of VAT which may be chargeable.
