£285,000 Under Offer

4 Post Office Avenue, Southport - Town Centre, PR9

Key Features

  • Fully Let Office Investment / Including Current Owner in one Suite
  • Situated in Southport Town Centre Location
  • Substantial Period Style Building Over 3 Floors
  • 8 Office Suites Currently Rented & Let To 3 Tenants Achieving £26,500 Per Annum
  • 0 Suites Currently Vacant
  • Small Suite Currently Occupied by Present Owner at £2,000 Per Annum but Available on Purchase if Required
  • No VAT on Purchase Price and Maintained to Good Standard Throughout
  • Fully Renovated to Provide Kitchen & WC Facilities to Each Floor
  • Fully Rewired with Electrical Safety Certificate Issued Feb 2020. Fire Safety System & Emergency Lighting Also Provided

Fully Let Office Investment producing £26,500 per annum. 4 Post Office Avenue provides a variety of individual office suites over ground, first and second floors. The property has been refurbished throughout and is well maintained by the current owners and provides a variety of individual office suites together with communal kitchen and WC facilities to each floor. Security is provided with an external and internal intercom system in operation. An attractive entrance door leads onto the main hallway with two office suites (Suite 1 and Suite 2 & 3). To the rear, kitchen and WC facilities are provided serving the ground floor, along with a pedestrian door leading out onto an enclosed yard area. The ground floor is currently occupied by The Conservative Party on a 3 Year Lease (with 12 month "Get out Clause") at an annual rental of £11,000. This is their third lease renewal. Stairs lead onto the first floor whereby a further 3 office suites are provided. Two of these suites are currently occupied by Millwood Group for a rental of £7,500 per annum on a 2 Year Lease. Further kitchen and WC facilities are also provided. A further suite on the first floor is currently occupied by the existing owners of the property, however vacant possession of this suite could be provided on completion, or the current owner is happy to continue for a maximum of 12 months at an inclusive rent of £2,000 per annum. Three suites on the second floor are currently occupied by PCBT Photography who we understand have been in occupation for over 15 years. Whilst they do not have a formal lease in place, we are advised that they are paying rent of £8,000 per annum. An external and internal intercom are installed to the offices along with emergency lighting and hard wired fire and smoke alarm system to communal areas and kitchens. We understand the owners have separated the electric meters for each floor and we are advised that a re-wire of the entire building was undertaken approximately 5 years ago. We are further advised that a full electrical safety inspection was undertaken in February 2020 with a copy of the certificate available on request. We understand the tenants are responsible for all business rates relating to the individual suites (if applicable). Utilities (water and electric) are recharged at cost to all tenants and tenants are responsible for arranging their own internet and phone lines. We are advised the current owners are responsible for the management of the building including collecting rents and arranging cleaning of the common areas and window cleaning. This is currently £90.00 monthly and is re-charged and spilt equally between the number of tenants. A copy of the leases for The Conservative Party and Millwood Group are available on request. 4 Post Office Avenue is situated just off Lord Street interconnecting with both the business and retail areas of the town. Post Office Avenue and the immediate area is an established location for professional office units such as solicitors, accountants, estate agents and is exceptionally well positioned for the retail amenities and public transport links of the town. Primary national occupiers in close proximity include Sainsburys, Natwest Bank, Prezzo, Bistro Pierre and a variety of other national retailers and restaurant users.
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