For Sale

2 Mourne Road, Lurgan, Armagh, BT66 8JA

Offers in the region of

£250,000

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Photo 1 of 4
Investment
E 104
EPC Rating

Location of 2 Mourne Road

Lurgan is located approximately 1.5 miles from Junction 10 of the M1 Motorway which provides easy access to Belfast (24 miles), Lisburn (15 miles) and Dungannon (20 miles). Portadown (8 miles) and Armagh (18 miles) are also within easy commuting distance. The Town is host to a variety of amenities including a range of shops, bars, restaurants, Schools and Churches. The subject property is situated a short distance from Millennium Way on the Mourne Road which links Russell Drive with Pollock Drive. The area is predominantly categorised as a residential area.

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features

  • Mixed Use Investment Opportunity
  • Comprises 7 units to include a PFS & Convenience store
  • Overall site extends to approximately 0.4 acres
  • Currently producing an annual Gross rent of £10,560 from 2 tenants
  • Potential for Owner Occupier / Investor
  • Guide Price £250,000 exclusive

description

DESCRIPTION

The property is a mixed use investment opportunity and is comprised of 3 buildings sub-divided into 7 no. units. The built accommodation extends to approximately 4,164 sq.ft of which approximately 1,006 sq.ft is currently occupied. The property comprises of a PFS & Convenience store, a 2 storey commercial block comprising 3 no. ground floor units & 2 no. first floor units, a mechanics workshop and a car wash.

 

 

TENANCIES & ACCOMMODATION

see images and brochure for details.

 

SITE AREA

We estimate the site area to be approximately 0.40 acres.

 

TITLE

We assume the property is held Freehold/Long Leasehold.

 

ASSET MANAGEMENT

Potential asset management opportunities include:

• Let the vacant units

• Regear occupational leases

• Refurbish the older units and re-let at higher rents

• Sell off the units piecemeal as investment opportunities or with Vacant Possession

• Redevelopment potential subject to requisite consents.

 

VAT

The property has been elected for VAT. It is envisaged the transaction will be treated as a TOGC.

 

GUIDE PRICE

We are instructed to seek offers in excess of £250,000 exclusive.

 

FURTHER INFORMATION
For more information or to arrange a viewing please contact:

Martin McKibbin

07715 269699
martin@riddellmckibbin.com

 

Mark Riddell
07920 186523
mark@riddellmckibbin.com

 

Riddell McKibbin
3rd Floor
7-11 Linenhall Street
Belfast
BT2 8AA
028 9531 3122
www.riddellmckibbin.com

Property Ref: RM0060

 

 

Riddell McKibbin Limited for themselves and for the Vendors or Lessors of the property whose agents they are give notice that; i) these particulars are given without responsibility of Riddell McKibbin Limited or the Vendors or Lessors as a general outline only, for the guidance of prospective purchasers or tenants, and do not constitute the whole or any part of an offer or contract; ii) Riddell McKibbin Limited cannot guarantee the accuracy of any description, dimensions, references to condition, necessary permissions for use and occupation and other details contained herein and any prospective purchasers or tenants should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the accuracy of each of them; iii) no employee of Riddell McKibbin Limited has any authority to make or give any representation or warranty or enter into any contract whatsoever in relation to the property; iv) VAT may be payable on the purchase price and/or rent, all figures are quoted exclusive of VAT, intending purchasers or lessees must satisfy themselves as to the applicable VAT position, if necessary by taking appropriate professional advice; v) Riddell McKibbin Limited will not be liable, in negligence or otherwise, for any loss arising from the use of these particulars.

Property Costs

  • Status: For Sale
  • Offers in the region of£250,000

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in association withUlster Bank
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Riddell McKibbin
3rd Floor

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