Covid-19 House Viewing Guidelines The process for viewing properties in Northern Ireland has changed following Covid-19. Please read the guidelines before arranging a viewing

2-4 Waterside, Coleraine BT51 3DP

Offers over £700,000

Investment Property For Sale

Offers over £700,000

Investment Property For Sale

Price Offers over £700,000
Style Investment Property
Status For sale

Contact the Agent

Peter Doherty Land & Property (Head Office)

  • Additional Information
  • Share This Property
  • Personal Notes
  • Similar Properties

Additional Information

Additional Information

A superb and substantial mixed residential and commercial building sitting on an impressive and convenient corner plot within the town centre of Coleraine.  The building which delivers a stable monthly return has been cared for sympathetically with the grade B2 listing status in mind and is likely to prove an astute investment opportunity.

The 3 storey building consists of 2 No. ground floor commercial units of c. 640 sq. ft. & 1,798 sq. ft. and 14 No. apartments (10 No. 1-Beds, 3 No. 2-Beds & 1 No. 3-Bed).

Unit 2-4 Waterside extends to c. 1,798 sq. ft. and is occupied by Pizza Pomodoro. Unit 2A Waterside extends to 640 sq. ft. and is occupied by Chinese Medical. The property is currently producing a gross annual income of c. £68,000 with the potential to increase this upon letting two vacant apartments. Externally the property is finished with part red brick and painted render with a slate pitched roof. The building has been listed to Grade B2 status.

 

SPECIFICATIONS

The apartments are finished to the following specification:

Plastered/painted walls and ceilings
Carpeted / vinyl flooring
Fitted kitchens with tiling to walls
Bathrooms with sanitary ware
Economy 7 storage heating;

The retail units are finished to the following specification:

Plastered/painted walls and ceilings
Glazed frontage with an electronic roller shutter
Suspended ceilings
Windows in aluminium frames

 

LEASE DETAILS

Apartments 1-14

Twelve of the fourteen apartments are currently let contributing to a current residential annual income of over £41,000.  

2-4 Waterside

Tenant: Private Individual t/a Pizza Pomodoro

Term: 21 years from 1st May 2015

Current Passing Rent: £22,000 per annum

Repairs: Full Repairing and Insuring

Rent Reviews: Years 3,6,12&15

2A Waterside

Tenant: Private individual t/a Chinese Medical

Term: 10 years from 1st February 2018

Current Passing Rent: £5,040 per annum

Repairs: Full Repairing and Insuring

Rent Reviews: 1st February 2023 and every fifth anniversary thereof

A full tenancy schedule is available on request.

 

RATEABLE VALUE

2 Waterside

We are advised of the following:

Net Annual Value: £2,450

Rate in the £ 2019/2020: £0.588556

Estimated Rates Payable: £1,441.96

2A Waterside

We are advised of the following:

Net Annual Value: £3,200

Rate in the £ 2019/2020: £0.588556

Estimated Rates Payable: £1,883.38

4 Waterside

We are advised of the following:

Net Annual Value: £5,900

Rate in the £ 2019/2020: £0.588556

Estimated Rates Payable: £3,472.48

 

TENURE

Freehold

 

VIEWINGS

Viewings by appointment only;

Qualification of ability to fund purchase will be required before viewing appointment can be booked;

Face coverings are required for internal inspection;

Share this property

Email this property to your friends

Please check you have entered all details correctly:

Good Work!

Your email is winging its way to

Personal Notes

Add a personal note about this property

Please or sign up to add notes to this property.
About Personal Notes

You can add your own personal notes about this property.

You can view all your notes by going to My PropertyPal.com.

You can remove this note at any time.

Notes can only be seen by you and any pals you have added, they cannot be viewed by the vendor or estate agent.

Similar Properties

Property Statistics

Total Views

(since advertised)

1,303

Listing Views

Date Views Unique Views Featured Published Bumped
17th Mar 2 2 No Yes No
18th Mar 4 4 No Yes No
19th Mar 11 11 No Yes No
20th Mar 15 15 No Yes No
21st Mar 20 20 No Yes No
22nd Mar 2 2 No Yes No
23rd Mar 16 16 No Yes No
24th Mar 15 15 No Yes No
25th Mar 11 11 No Yes No
26th Mar 4 4 No Yes No
27th Mar 8 8 No Yes No
28th Mar 5 5 No Yes No
29th Mar 6 6 No Yes No
30th Mar 7 7 No Yes No
31st Mar 5 5 No Yes No
1st Apr 6 6 No Yes No
2nd Apr 2 2 No Yes No
3rd Apr 1 1 No Yes No
4th Apr 11 11 No Yes No
5th Apr 5 5 No Yes No
6th Apr 4 4 No Yes No
7th Apr 7 7 No Yes No
8th Apr 6 6 No Yes No
9th Apr 11 11 No Yes No
10th Apr 2 2 No Yes No
11th Apr 4 4 No Yes No
12th Apr 11 11 No Yes No
13th Apr 9 9 No Yes No
14th Apr 9 9 No Yes No
15th Apr 7 7 No Yes No

Are you selling this property?

Promote your listing on PropertyPal to get more exposure and put your property in front of the right people.

Not your property? Click here to search for your property.

Option 2: Premier Listing

Get an automatic boost to the top of the search results every week for the next 4 weeks.

Additionally, your property appears as enhanced with extra photos and a description for the lifetime of your listing.

£49

Spotted a Problem? Even the best agents make mistakes, help us to maintain accurate property information on our listings.  Report a problem »

Back to top