McColl's Heysham

Morecambe, LA3 1PR

Property Type Investment
Availability For Sale
Size 1773 sqft
Energy Performance Rating This property has been graded as C 70

Freehold Convenience Store and Ground Rent Investment for Sale


LOCATION

Heysham is a large coastal village 5 miles to the west of Lancaster overlooking Morecambe Bay. It is a ferry port with services to the Isle of Man and Ireland. The property is situated between Morecambe and Heysham in a residential area on Oxcliffe Road (B5273), at its junction with Tibicar Drive West. The unit is adjacent to a local Chinese take away restaurant and surrounded by residential housing.

KEY POINTS

  • Freehold convenience store and residential ground rent investment
  • Let to Martin McColl Ltd with over 11 years unexpired
  • In Store Post Office
  • Total current rents reserved £26,208 per annum rising to £28,936 per annum on 20th June 2028
  • No VAT payable
  • Fixed uplifts throughout at 2% per annum payable 5 yearly
  • Offers in excess of £375,000
  • A purchase at this level would reflect a Net Initial Yield of 6.72%, with a reversionary yield of 7.42%
The property is a two semi-detached building arranged on ground and one upper floor to provide a ground floor convenience store with a sub post office and an ATM, with ancillary accommodation to the rear. The first floor provides residential accommodation that has been sold off on a long lease. There is ample car parking available to the front of the property.
< Back to properties VIEW SHORTLIST Download Marketing Brochure Download LEASE dated 20 JUNE 2013.pdf Download Official Copy Register LA847140.pdf Download Official Copy Title Plan LA847140.pdf Download EPC Heysham.pdf

Viewing & Further Information

For further information, or if you would like to arrange a viewing, please contact our agents:

Nick Sherling

020 7478 9113

CONTACT AGENT


Michael Braier

020 7478 9112

CONTACT AGENT


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