Photo 1 of 3
For Sale

Ground Floor, 'Reynolds House', William Street, Lurgan, Armagh, BT66 6JB

Offers Over

£425,000

Calculate Mortgage Now
Investment
E 109
EPC Rating

Location of Ground Floor, 'Reynolds House'

Lurgan is approximately 18 miles (29 km) South-West of Belfast and is linked to the City by both the M1 Motorway and the Belfast-Dublin railway line making the town popular with commuters. Surrounding towns include Craigavon, Portadown and Moira. The property is located with direct frontage onto William Street and benefits from a high level of vehicular and pedestrian passing trade with the train station in close proximity. The parking for the residential is accessed off Abbey Manor which is located to the rear.

My Important Places

Add important places to see how far they are from this property.

features

  • A prominent retail investment opportunity comprising
  • 4 no. retail units ranging from 791 sq. ft. to 886 sq. ft.
  • Cash Machine Pod of c. 150 sq. ft.
  • Current income of £37,000 per annum
  • Gated off street parking
  • Offers over £425,000 which reflects a NIY of 8.3% after allowing for purchasers cost of 4.3%

description

Reynolds House comprises 4 no. ground floor retails units ranging from 791 sq. ft. - 886 sq. ft. and a Cash Machine Pod with its own access.
The block is arranged over three floors and is of modern brick construction with concrete floors, tiled and pitched roof, double glazing and gas heating.
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
• Phoenix Gas combination boilers, Upvc double glazed windows in aluminium frames
LEASE DETAILS
Ground Floor Retail units 88, 90, 94 & 96 William Street
Tenant: Private Individual
Term: 10 years from 01/08/2015
Current Rent: £35,000 per annum
Repairs: Full Repairing and Insuring
A tenancy schedule is included to the rear of this brochure.
RATEABLE VALUE
88-90 William Street
We have been advised by Land & Property Services of the following:
Net Annual Value: £19,500
Rate in the £ 2017/2018: £0.577741
Estimated Rates Payable: £11,265
94 William Street
Net Annual Value: £9,750
Rate in the £ 2017/2018: £0.577741
Estimated Rates Payable: £5,632
96 William Street
To be assessed.
PRICE
Offers invited in the region of £425,000 exclusive of VAT. A sale at this level would reflect a NIY of 8.3% after allowing for purchasers costs of 4.3%
VAT
We are advised that the property is VAT registered and therefore VAT will be charged on the sale. However, it is possible that the sale could be treated as a transfer of a going concern (TOGC).
FURTHER INFORMATION
For further information or to arrange an inspection of the property, please contact:
Contact: Andrew Lennon or William Knox
Tel: 028 9024 1500
Email: andrew.lennon@colliers.com or Email: william.knox@colliers.com

Property Costs

  • Status: For Sale
  • Offers Over£425,000
  • Stamp Duty: £0*

* Stamp duty rates provided as a guide only. Additional charges may apply. Please refer here for more information.

Mortgage Calculator

in association withUlster Bank
10%
years
%
£1,826.11 per month
How much could I borrow?

These results are not provided by Ulster Bank and are only indicative based on a repayment mortgage product. Repayments will be subject to the product provided and your circumstances. Your home or property may be repossessed if you do not keep up repayments on your mortgage.

Contact Agent

Colliers International
4th Floor

Other costs to budget for

Wilson Nesbitt Solicitors

Get a free property legal expenses quotation