Price Offers over £1,200,000
Style Investment Property
EPC Rating D80
Status For sale

Contact the Agent

Colliers International

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

Additional Information

Features

  • A prominent mixed use investment opportunity comprising:-
  • 12 no. 2 bed apartments ranging from 723 sq. ft. to 904 sq. ft.
  • 4 no. retail units ranging from 791 sq. ft. to 886 sq. ft.
  • Cash Machine Pod of c. 150 sq. ft.
  • Current income of £107,780 per annum
  • Gated off street car parking for both the residential and commercial
  • Offers over £1,200,000 which reflects a NIY of 7.9% after allowing for purchasers costs of 5.9%

Additional Information

Reynolds House comprises 4 no. ground floor retails units ranging from 723 sq. ft. – 904 sq. ft., 12 no. 2-bed apartments ranging from 791 sq. ft. – 886 sq. ft. and a Cash Machine Pod with its own access.
The block is arranged over three floors and is of modern brick construction with concrete floors, tiled and pitched roof, double glazing and gas heating. The building is served by a lift.
The apartments are finished to the following specification;

• Plastered/painted walls and ceilings
• Wooden flooring
• Fully fitted kitchen with tiling to walls and floors
• Bathroom and En-suite with high quality sanitary ware
• Phoenix Gas combination boilers, Upvc double glazed windows
• Entry phone system and telephone outlets

The retail units are finished to the following specification;
• Plastered/painted walls and ceilings
• Glazed frontage with an electronic roller shutter / wooden flooring
• Suspended ceilings
• Phoenix Gas combination boilers, Upvc double glazed windows in aluminium frames

LEASE DETAILS
Apartments 1-12
All apartments are fully let producing an annual income of £66,780.

Ground Floor Retail units 88, 90, 94 & 96 William Street
Tenant: Private Individual
Term: 10 years from 01/08/2015
Current Rent: £35,000 per annum
Repairs: Full Repairing and Insuring
A tenancy schedule is included to the rear of this brochure.

RATEABLE VALUE
88-90 William Street
We have been advised by Land & Property Services of the following:
Net Annual Value: £19,500
Rate in the £ 2017/2018: £0.577741
Estimated Rates Payable: £11,265

94 William Street
Net Annual Value: £9,750
Rate in the £ 2017/2018: £0.577741
Estimated Rates Payable: £5,632

96 William Street
To be assessed.

PRICE
Offers invited in the region of £1,200,000 exclusive of VAT . A sale at this level would reflect a NIY of 7.9% after allowing for purchasers costs of 5.9%.

VAT
We are advised that the property is VAT registered and therefore VAT will be charged on the sale. However, it is possible that the sale could be treated as a transfer of a going concern (TOGC).

FURTHER INFORMATION
For further information or to arrange an inspection of the property, please contact:
Andrew Lennon or William Knox
Tel: 028 9024 1500
Email: andrew.lennon@colliers.com or Email: william.knox@colliers.com

Sole Agent
Colliers International gives notice that these particulars are set out as a general outline only for the guidance of intending Purchasers or Lessees and do not constitute any part of an offer or contract. Details are given without any responsibility and any intending Purchasers, Lessees or Third Party should not rely on them as statements or representations of fact, but must satisfy themselves by inspection or otherwise as to the correctness of each of them. No person in the employment of Colliers International has any authority to make any representation or warranty whatsoever in relation to this property.
Colliers International is the licensed trading name of Colliers Belfast Limited. Company Registered in Northern Ireland No. NI 614836 Registered Office: 25 Talbot Street, Belfast, BT 1 2LD

Directions

Lurgan is approximately 18 miles (29 km) South-West of Belfast and is linked to the City by both the M1 Motorway and the Belfast-Dublin railway line making the town popular with commuters. Surrounding towns include Craigavon, Portadown and Moira.
The property is located with direct frontage onto William Street and benefits from a high level of vehicular and pedestrian passing trade with the train station in close proximity. The parking for the residential is accessed off Abbey Manor which is located to the rear.

Personal Notes

Add a personal note about this property

Please or register 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.

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

Similar Properties

Property Statistics

Total Views

(since advertised)

560

Listing Views

Date Views Unique Views Featured Published
27th Aug 1 1 No Yes
28th Aug 1 1 No Yes
29th Aug 4 4 No Yes
30th Aug 4 4 No Yes
31st Aug 3 3 No Yes
1st Sep 0 0 No Yes
2nd Sep 0 0 No Yes
3rd Sep 2 2 No Yes
4th Sep 1 1 No Yes
5th Sep 1 1 No Yes
6th Sep 3 3 No Yes
7th Sep 4 4 No Yes
8th Sep 1 1 No Yes
9th Sep 1 1 No Yes
10th Sep 1 1 No Yes
11th Sep 1 1 No Yes
12th Sep 4 4 No Yes
13th Sep 6 6 No Yes
14th Sep 2 2 No Yes
15th Sep 1 1 No Yes
16th Sep 2 2 No Yes
17th Sep 1 1 No Yes
18th Sep 0 0 No Yes
19th Sep 1 1 No Yes
20th Sep 3 3 No Yes
21st Sep 2 2 No Yes
22nd Sep 0 0 No Yes
23rd Sep 4 4 No Yes
24th Sep 2 2 No Yes
25th Sep 3 3 No Yes

Are you selling this property?

Find out how to make your property stand out more, increase your views and get twice the exposure as a standard listing!

Are you selling this property?

Find out how to make your property stand out more, increase your views and get twice the exposure as a standard listing!

  • Get twice the exposure than a standard listing
  • Attractive design with banner and additional photographs
  • Get to the top of the search results (Featured only)
  • Choose the Featured or Premium Option or both
Increase Your Views
From
£2
a week
Only
£49
(Lifetime)

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