Investment Properties for sale in Millom

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Investment Property

Millom, Cumbria, England

  • Freehold Price: £320,000
Seller Reference: 584864
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Business Description
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Seller Reference: 584864
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Business Description
Substantial Investment Property
Long Term Tenants
Close to 10% Annual Return on Investment (9.78%)
Prime Cumbrian Market Square Site
Annual Rental Income of £31,311
REF 584864. EPC Band D.
Property £320,000

A truly outstanding opportunity for property investors looking to acquire a substantial property of two shops, a restaurant, a small hall / entertainment venue, two residential flats and four lock-up storage units, producing a total net income of £31,311 per annum. The above represents almost a 10% annual ROI (return on investment). The entire property is fully let presently with most tenants having been in occupancy for between 6 and 13 years. The residential flats are on Short Hold agreements (SHT). The Property Comprises of: Ground Floor A3 restaurant premises - Tenants in occupancy for 8 years and paying £5,000 per annum. Ground Floor Hair Salon - Tenant in occupancy for over 13 years, paying annual rent of £5,200. Ground Floor Sales Shop - Charity shop, in occupancy for 6 years and paying rent of £4,420 per annum. First Floor: Gallery / Theatre / Entertainment Space, in occupancy for 10 years, paying annual rent of £6,240. First Floor – two x one bedroomed self-contained flats producing rents of £4,056 and £4,420 respectively. To the rear of the building, easily accessed via a side road are four individual lock-up storage facilities producing annual rents of £520, £2,080, £780, and £780 respectively. EPC Band D.
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