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12-16 Catherine Street, Killyleagh BT30 9QQ

Offers Around £275,000
  • Let agreed Agreed
  • Commercial property Commercial
  • 2 bedroom property 2 Bedrooms
  • 3 reception property 3 Receptions
  • Price £275,000
  • Style Commercial
  • Bedrooms 2
  • Receptions 3
  • Status Agreed
Stamp Duty for this property will be: £3,750 / £12,000* *Higher amount applies when purchasing as buy to let or as an additional property
Tim Martin - Comber 028 9187 8956

Description

An excellent opportunity to acquire this mixed-use investment property in the heart of Killyleagh village, occupying a prominent site, amongst a varied mix of new and well-established businesses including Winemark, Spar, Maxol petrol station, to name but a few.

The property currently comprises of two ground floor retail units and two first floor apartments, three of which are currently let. One retail unit is let to ‘Killyleagh Catch' fish and chip shop, whilst the two first floor apartments are let. The investment is currently producing a rental income of £21,200 per annum with the potential of increasing this to circa £35,000 per annum, subject to the remaining ground floor unit (formerly Hot Cross Bakery) being let.

Killyleagh village is becoming an increasingly popular area with its choice of local boutiques, coffee shops and restaurants, not to mention its proximity to Strangford Lough, which boasts a wealth of water sports and beautiful coastal walks. The surrounding towns of Downpatrick, Killinchy and Comber are all close by, whilst the edge of Belfast is approximately 30 minutes' drive away.

Features

  • Excellent Mixed Use Investment Property.
  • Prominent Position In The Heart Of Killyleagh Village
  • Comprising Of Two Retail Units And Two First Floor Apartments
  • Currently Producing An Income of £21,200 Per Annum
  • Potential To Increase Income to Circa £35,000 Per Annum (Subject To Remaining Unit Being Let)
  • Situated Amongst New And Well Established Businesses
  • Close To Downpatrick, Killinchy And Comber

Accommodation

  • 12 CATHERINE STREET (KILLYLEAGH CATCH)

  • FRONT SHOP - 300 Sqft (Approximately)

    Wood laminate floor; fluorescent lights; suspended ceiling; PVC clad walls; open through to :-

  • REAR SHOP - 418 Sqft (Approximately)

    Non slip floor; fluorescent lights; suspended ceiling; single drainer stainless steel industrial sink; PVC clad walls.

  • REAR STORE - 28 Sqft (Approximately)

    Non slip floor; fluorescent light.

  • DISABLED WC - 37 Sqft (Approximately)

    Low flush wc; wash hand basin; suspended ceiling; fluorescent light; PVC clad walls.

  • COMMUNAL CONCRETE REAR YARD

    Double doors to Catherine Street.

  • TOTAL AREA

    783 Sqft Approximately

  • 14A CATHERINE STREET - FIRST FLOOR APARTMENT

  • COMMUNAL ENTRANCE LEADING TO FIRST FLOOR

  • ENTRANCE HALL

    Telephone entry system.

  • CLOAKROOM

  • LOUNGE / BEDROOM 2 - 4.98m (16'4) x 3.56m (11'8)

    TV and telephone connection points; built in storage cupboard.

  • KITCHEN / DINING AREA - 6.05m (19'10) x 3.61m (11'10)

    Good range of modern wood laminate high and low level cupboards and drawers incorporating single drainer stainless steel sink unit with mixer tap; integrated 'Logik' electric under oven with 'Logik' 4 ring ceramic hob; concealed extractor fan over; formica worktop; tv aerial connection point; uPVC double doors to enclosed paved patio area.

  • BEDROOM 1 - 2.9m (9'6) x 2.84m (9'4)

  • BATHROOM - 3.18m (10'5) x 2.03m (6'8)

    Modern white suite comprising:- panelled bath with mixer taps; 'Redring' electric shower unit with wall mounted telephone shower attachment; fitted glass shower screen; pedestal wash hand basin with mono mixer tap; low flush wc; part tiled walls; hotpress with insulated copper cylinder; extractor fan.

  • OUTSIDE

    Enclose paved patio area; oil fired boiler.

  • 14B CATHERINE STREET - FIRST FLOOR APARTMENT

  • ENTRANCE HALL

  • LOUNGE / DINING AREA - 6.1m (20'0) x 6.02m (19'9)

    Diffused fluorescent lighting; tv and telephone connection points; built in storage cupboard; wood laminate floor.

  • BEDROOM 1 - 3m (9'10) x 2.31m (7'7)

  • BATHROOM - 2.82m (9'3) x 1.96m (6'5)

    White suite comprising:- panelled bath with mixer tap and telephone shower attachment; pedestal wash hand basin with mixer tap; low flush wc; part PVC panelling to bath area; hotpress with insulated copper cylinder; 'Velux' ceiling window.

  • LIVING ROOM / BEDROOM 2 - 3.33m (10'11) x 3.05m (10'0)

  • KITCHEN - 4.06m (13'4) x 3.07m (10'1)

    Good range of wood laminate high and low level cupboards and drawers incorporating single drainer stainless steel sink unit with mixer taps; electric under oven with 4 ring hob; concealed extractor fan with canopy over; space and plumbing for washing machine; formica worktops; part tiled walls.

  • OUTSIDE

    Enclosed paved patio area; oil fired boiler.

  • 16 CATHERINE STREET - (Formerly Hot Cross Bakery) Now Vacant

  • RETAIL - 413 Sqft (Approximately)

    Non slip floor; fluorescent lights; range of floor level cupboards; formica worktops; single drainer stainless steel sink unit with mixer taps.

  • HALLWAY - 41 Sqft (Approximately)

    Tiled floor; built in cloak cupboard.

  • STORE - 88 Sqft (Approximately)

  • BAKERY - 494 Sqft (Approximately)

    Concrete floor; fluorescent lights; PVC wall cladding; built in cold room (8'8 x 6'0).

  • STORE - 195 Sqft (Approximately)

    'Velux' ceiling windows; double doors to rear yard.

  • WC - 60 Sqft (Approximately)

    Low flush wc; wall mounted wash hand basin with corner mixer tap; tiled floor.

  • STORE - 20 Sqft (Approximately)

  • OUTSIDE

    Communal concrete yard with double doors to Catherine Street.

  • TOTAL AREA

    1,311 Sqft (Approximately)

  • LEASE DETAILS

    12 Catherine Street - Currently let out to Killyleagh Catch Fish and Chip Shop - Rent £230 per week (Exclusive)

    14A Catherine Street - Currently let out at £450 per calendar month for a period of 12 months, commencing 7th July 2021.

    14B Catherine Street - Currently let out at £395 per calendar month, the lease is currently operating on a periodic basis.

    16 Catherine Street - Currently vacant.

  • RATES DETAILS

    12 Catherine Street - Total NAV £4,700 = Rates Payable £2,439.16 per annum (approx)

    14A Catherine Street - Capital Value £70,000 - Rates Payable £604.87 per annum (approx)

    14B Catherine Street - Capital Value £60,000 - Rates Payable £518.46 per annum (approx)

    16 Catherine Street - Total NAV £5,800 = Rates Payable £3,010.03 per annum (approx)

    PLEASE NOTE:- All prospective purchasers should make their own enquiries to confirm the NAV/Capital Values/Rates Payable.

  • VAT

    All prices etc are exclusive of, but may be subject to VAT.

  • TITLE

    Assumed Freehold / Long Leasehold

Location

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Disclaimer: The following calculations act as a guide only, and are based on a typical repayment mortgage model. Financial decisions should not be made based on these calculations and accuracy is not guaranteed. Always seek professional advice before making any financial decisions.

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