For Sale

Mixed Use Investment Opportunity, 2/4 WATERSIDE, COLERAINE, LONDONDERRY, BT51 3DP

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Investment

Location of Mixed Use Investment Opportunity

Coleraine is located near the mouth of the River Bann in County Londonderry, c. 55 miles Northwest of Belfast and c. 30 miles East of Derry/Londonderry, both of which are linked by major road and railway connections. The property is in Coleraine Town Centre on the West side of the River Bann. The subject occupies a prominent corner site on Waterside the surrounding occupiers are mostly commercial occupiers.

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features

  • A prominent mixed use investment opportunity comprising 14 No. apartments (10 No. 1 Beds, 3 No. 2 Beds & 1 No. 3 Bed). 2 No. Retail units of c. 640 sq. ft. and 1,798 sq. ft.
  • Current income of c. £73,000 per annum
  • Prominent location In Coleraine Town Centre
  • Offers over £700,000 exclusive of VAT a sale at this level would reflect a NIY of 9.28% after allowing for purchasers costs of 5.3%

description

The property comprises 2 No. ground floor commercial units of c. 640 sq. ft. & 1,798 sq. ft. and 14 No. apartments (10 No. 1-Beds, 3 No. 2-Beds & 1 No. 1-Bed).
The property consists of a 3 storey end terrace on a prominent corner site within Coleraine Town Centre.
The accommodation includes 2 retail units on the ground floor level with 14 apartments over 4 levels. Unit 2-4 Waterside extends to c. 1,798 sq. ft. and is occupied by Pizza Pomodoro. Unit 2A Waterside extends to 640 sq. ft. and is occupied by Chinese Medical. The property is currently producing a gross annual income of c. £73,000 with the potential to increase this upon letting the vacant unit. Externally the property is finished with part red brick and painted render with a slate pitched roof. The building has been listed to Grade B2 status.
The apartments are finished to the following specification;
• Plastered/painted walls and ceilings
• Carpeted / vinyl flooring
• Fitted kitchens with tiling to walls
• Bathrooms with sanitary ware
• Economy 7 storage heating, double glazed windows
The retail units are finished to the following specification;
Plastered/painted walls and ceilings
Glazed frontage with an electronic roller shutter / wooden flooring
Suspended ceilings
Double glazed windows in aluminium frames
PRICE
Offers over £700,000 exclusive of VAT a sale at this level would reflect a NIY of 9.28% after allowing for purchasers costs of 5.3%.
EPC
Pending.
FURTHER INFORMATION
For further information or to arrange an inspection of the property, please contact:
Contact: Andrew Lennon or William Knox
Tel: 02890241500
Email: andrew.lennon@colliers.com or Email: william.knox@colliers.com

Property Costs

  • Status: For Sale
  • POA

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