47-51 Warrington Road, Prescot, L34 5QY
£134.48 per sq ft
Business rates & charges may apply
- SIZE AVAILABLE
3,495 sq ft
325 sq m
- SECTOR
High street retail property for sale
Key features
- Investment opportunity for sale
- Ground floor let to Alliance Property Holdings Ltd t/a Morrisons Only
- Residential upper floor flats
Description
Prescot is a town and civil parish within the Metropolitan Borough of Knowsley in Merseyside, United Kingdom. It lies about eight miles (13 km) to the east of Liverpool city centre.
The subject property lies in a corner position on Warrington Road. Warrington Road is the main arterial route serving Prescot, and connects with the M57 at Junction 2. Surrounding uses are primarily residential in nature with residential development taking place in the surrounding areas.
Description
Excellent investment opportunity.
The property comprises an end terraced ground floor retail shop and four residential flats to the upper floors.
The ground floor is let to Alliance Property Holdings Ltd t/a Morrison Only and a new lease has been agreed for a term of 10 years at a rent of £18,000pa, on standard FRI terms, with a rent review and tenant break on the 5th anniversary. This is due to complete imminently. The ground floor retail benefits from storage area with side loading access along with office, chiller room and staff W.C.
The flats include three 1 bedroom flats and one 2 bedroom flat. Flats are let at a combined rental income of £1,705 pcm.
The property is fully let and producing a passing rent of £38,460 pa. At the asking price of £470,000 this equates to a Net Initial Yield of 7.83 %.
Tenure Comments
The property is held freehold.
Planning
We understand the property has planning consent for its current uses, or that a Certificate of Lawful Use or Development would be available if sought from the local planning authority.
EPC Information
47a Warrington Road - 64 (D) - Expires 19 January 2034
47b Warrington Road - 67 (D) - Expires 1 August 2031
49a Warrington Road - 45 (E) - Expires 26 January 2034
51 Warrington Road - 57 (D) - Expires 22 January 2034
47-49 Warrington Road - 65 (C) - Expires 7 July 2026
Brochures
47-51 Warrington Road, Prescot, L34 5QY
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Prescot Station0.4 miles
- Eccleston Park Station0.8 miles
- Whiston Station1.1 miles
About DGRE, Stockton-On-Tees
Hampdon House, Falcon Court, Preston Farm Industrial Estate, Stockton-On-Tees, TS18 3TS
Notes
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