£3,250,000 For Sale

Hoghton Street, Southport - Town Centre, PR9


Key Features

  • 25 Two Bedroom Apartments Constructed over First, Second, Third and Fourth Floors
  • Ground Floor Comprising of 3 Self Contained Retail Units and Covered Rear Car Parking Area
  • Residential Rental Income Approximately £189,600 per annum
  • Unit 3 Let to NFU Mutual at £21,500 per annum
  • Unit 1 & Unit 2 Currently on the market to let. Unit 1 quoting rental £16,850 per annum, Unit 2 quoting rental £12,000 per annum
  • Estimated Total Income (When fully let) £242,450 per annum (At quoting terms)

Constructed in 2008 over ground, first, second, third and fourth floors, the ground floor development comprises of 3 self-contained retail units with glazed shop fronts with fascia signage above to Hoghton Street. To the rear of the development and accessed from Anchor Street, secure parking is provided for a number of car parking spaces. The residential accommodation has a dedicated entrance from Hoghton Street with lift and stair access to each of the four floors of apartments above. Each apartment typically comprises of 2 or 3 bedrooms with an en-suite and access into the main bathroom, together with an open plan lounge, diner and kitchen room. Apartments 20, 21, 22, 23, 24 and 25 also have roof terraced gardens. The Edge development is situated on Hoghton Street within Southport town centre, close to all its retail and leisure amenities and public transport links. Hoghton Street adjoins the town's prime retail pitch of Chapel Street and is close to the railway station. Occupiers in the immediate vicinity include many local medical, legal and professional practices in addition to the national retailers nearby. Southport is an affluent coastal resort located on the Irish Sea within Sefton Metropolitan Council, and is found approximately 18 miles south of Preston and 19 miles north of Liverpool city centre. Floor plans for indicative purposes only, copies available upon request. A copy of the lease to NFU Mutual and a breakdown of the rental income for the residential apartments are available on request. At the time of details being prepared (1st April 2019), we are advised all apartments are fully let and we are advised by the Landlord that the current rental income for the residential accommodation is approx £189,600 per annum. We are further advised the car park produces an additional £2,500 per annum (approx). Commercial: Unit 1 - Currently Vacant and on the market to Let at an annual rental of £16,850 per annum. Unit 2 - Currently Vacant and on the market to Let at an annual rental of £12,000 per annum. Unit 3 - Let to NFU Mutual at an annual rental of £21,500 per annum for 10 years from 30th June 2009.
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