For sale by Modern Method of Auction; Starting Bid Price £297,000 plus Reservation Fee.
Miles and Barr Commercial are delighted to bring to the market an investment opportunity of two residential flats and a large commercial shop on the busy Northdown Road in Cliftonville . The ground floor lock up shop is currently on a 5 year lease, due to be reviewed in November. The shop comprises of a substantial retail area, alongside an office room to the back. There is also an extensive basement. The shop consists of a 430 Sq Ft sales area in total. The shop also comes with two rooms above. The first floor is a kitchenette with a WC, currently used by the shop owner. The second floor consists of one large room. The two one bedroom flats comprise of a light and spacious bay fronted lounge to the front of the property having a lovely view down Edgar Road to the Sea. A large bedroom with en-suite, and separate kitchen down the hallway.Both of these flats are currently tenanted on short term tenancies, with both flats combined bringing in 1,000 pcm. The shop brings in £500 pcm which brings the annual total to £18,000 or 5.5% yield on the current reserve price.
Northdown Road is effectively the ‘town centre’ of Cliftonville. Shops in the area benefit from the fact that many of the residents of this area choose to shop locally. The property is well located being situated on Northdown Road with direct access to local amenities and bus routes including only a short walk to the Historic Dreamland, Blue Flag Sandy Beaches and High Speed Rail Links.
Please call Miles & Barr to arrange your viewing!”
|Main Sales Area||8.81 x 2.56 (28'10" x 8'4")|
|Back Sales Area||2.54 x 3.82 (8'3" x 12'6")|
|Back Storage Room||4.47 x 2.719 (14'7" x 8'11")|
|Kitchenette||3.2 x 2.86 (10'5" x 9'4")|
|WC/ Shower Room||1.49 x 2.95 (4'10" x 9'8")|
|Basement||4.97 x 2.54 (16'3" x 8'3")|
|Office||1.7 x 2.21 (5'6" x 7'3")|
|Large Garden To The Rear|