Price £450,000
Style Commercial Property
Status For sale
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Additional Information

Features

  • Mixed use investment opportunity comprising ground floor restaurant/takeaway unit and 4no. 1 bed flats.
  • Prominent 3 Storey building extending to approx. 2,724.3 sqft (253.1 sqm)
  • Current gross annual income of �43,332 with the potential to increase to c. �48,528 pax.

Additional Information

Location
Derry is the second largest city in Northern Ireland and is the economic, cultural and infrastructure hub of the North West of Ireland with a population of in excess of 110,000 people and a further catchment population of more than 250,000 people.

Derry is located 70 miles northwest of Belfast and 31 miles southwest of Coleraine. Due to its strategic location on the border with Donegal, the city benefits from substantial cross border trade. The city is a major administration centre and benefits from the expanding Ulster University Magee Campus and a substantially increasing tourism business.

The property is located on Strand Road in Derry City Centre. Neighbouring occupiers include Poundland, Super Valu, Gordons Chemist and Bank of Ireland. Located in the immediate vicinity is a host of the city's bars and restaurants as well as The City Hotel and Travelodge Hotel.

Description
The ground floor unit comprises a modern restaurant/takeaway unit currently trading as Hillbilly's, fitted out to provide a servery and seating area, kitchen, customer and staff WC facilities.

The flats are arranged to provide a kitchen/living area, bedroom and wc/shower room. Internal finishes include laminate floor coverings, plastered/painted walls and ceilings and gas fired central heating.

We understand the property is HMO registered.

Tenancy Details
The ground floor unit is let to '2 Strand Road Limited' t/a Hillbilly's for a term of 10 years from 1st November 2011 expiring on 31st October 2021 at a passing rent of �28,000 pax.

Three of the flats are currently let on short term rental agreements producing a gross annual income of �15,332 per annum. The ERV for the vacant flat is c. �433 pcm.

Full tenancy details can be made available upon request.

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Property Statistics

Total Views

(since advertised)

1,400

Listing Views

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

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