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1484-1488 London Rd
720 - 729 SF Condo Units Offered at $209,125 - $247,148 Per Unit in Leigh
Investment Highlights
- High Foot Fall
- Mains electricity & Water
- Large Shop Front
Executive Summary
The property is located on the south side of the London Road (A13 ) within the popular Highlands shopping area and comprises a ground floor retail premises which have recently been let as a dog groomers (sui generis use). .
Property Facts
| Price | $209,125 - $247,148 | Building Class | B |
| Unit Size | 720 - 729 SF | Floors | 1 |
| No. Units | 2 | Typical Floor Size | 1,800 SF |
| Total Building Size | 1,800 SF | Year Built | 1995 |
| Property Type | Retail |
| Price | $209,125 - $247,148 |
| Unit Size | 720 - 729 SF |
| No. Units | 2 |
| Total Building Size | 1,800 SF |
| Property Type | Retail |
| Building Class | B |
| Floors | 1 |
| Typical Floor Size | 1,800 SF |
| Year Built | 1995 |
2 Units Available
Unit 1484
| Unit Size | 720 SF | Sale Type | Investment |
| Price | $209,125 | Tenure | Long Leasehold |
| Price Per SF | $290.45 | Cap Rate | 7.27% |
| Condo Use | Retail | NOI | $15,209.13 |
| Unit Size | 720 SF |
| Price | $209,125 |
| Price Per SF | $290.45 |
| Condo Use | Retail |
| Sale Type | Investment |
| Tenure | Long Leasehold |
| Cap Rate | 7.27% |
| NOI | $15,209.13 |
Sale Notes
The premises are let on a full repairing and insuring 5 year lease from July 2022 at a rent of £12,000 per annum to a local covenant. The landlords hold a 3 month rent deposit. Tenant's option to break at year 2.
£165,000 IS REQUIRED FOR A NEW 999 YEAR GROUND LEASE - 7.5% RETURN
RECOMMENDED
Unit 1488
| Unit Size | 729 SF | Sale Type | Investment |
| Price | $247,148 | Tenure | Long Leasehold |
| Price Per SF | $339.02 | Cap Rate | 5.95% |
| Condo Use | Office/Retail | NOI | $14,702.16 |
| Unit Size | 729 SF |
| Price | $247,148 |
| Price Per SF | $339.02 |
| Condo Use | Office/Retail |
| Sale Type | Investment |
| Tenure | Long Leasehold |
| Cap Rate | 5.95% |
| NOI | $14,702.16 |
Sale Notes
The property comprises a ground floor retail shop located within the popular Highlands Shopping area which is let to Hidden Hearing Limited on a lease until 2027 producing a current rent of £11,600 per annum.
Hidden Hearing Limited was formed in 1986 and have traded from this location since June 2012. The company are currently re-branding and we understand that they will be carrying out a corporate re-fit this year.
£195,000 is required for a new ground lease for a term of 999 years at a ground rent of £100 per annum fixed.and with the benefit of the tenancy in place producing £11,500 per annum The freeholder insures the building..
Amenities
- Storage Space
-
Hayden Harle -
Hair & Son LLP
Learn More About Investing in Retail Properties
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1484-1488 London Rd
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