Property for sale132 SEABANK ROAD, WALLASEY
Guide Price* £115,000
- FOR SALE BY PUBLIC AUCTION : Wednesday, 07 December 2016
- LOT NUMBER : 26
- RETAIL UNIT WITH 7 LETTING ROOMS PRODUCING A RENTAL INCOME OF £20,644 P.A. WHEN FULLY LET
- Commercial Investment
- *GUIDE PRICE : £115,000 - £125,000
Full descriptionThe property comprises a substantial three storey end of terrace building situated in an established retail parade in a prominent main road position.
It is close to the Promenade and within easy reach of New Brighton Seafront.
There is retail use to the ground floor with seven letting rooms above with a multiple occupation licence.
The shop is let at a rental of £3,900 per annum. The tenant is holding over under a lease beginning 11 April 2014.
Five of the seven rooms are currently let producing a rental income of £16,744 per annum.
When fully let there is a rental income of £27,404 per annum generating a yield of approximately 22%.
By arrangement with the aucitoneers.
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*Guide Price: An indication of a seller's minimum expectation at auction and given as a Guide Price or a range of Guide Prices. This is not necessarily the figure a property will sell for and is subject to change prior to the auction.
Reserve Price: Each auction property will be subject to a Reserve Price below which the property cannot be sold at auction. Normally the Reserve Price will be set within the range of Guide Prices or no more than 10% above a single Guide Price.
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