£450,000 For Sale

7 Botanic Road, Southport, PR9


Key Features

  • Comprising two fully let retail units.
  • First floor Offering three tenanted beauty therapy/office studios.
  • Plus vacant fully equipped gym/personal training studio at first floor.
  • Each first floor suite separately assessed for business rates.
  • Car parking space also provided to the middle retail space only.
  • Currently producing gross income of £24,600 per annum, rising to an estimated £35,100 per annum on letting of the gym at £800.00 pcm and Studio 3 achieving £300pcm as at March 2020.
  • No VAT on purchase price.
  • Prominent position and rare opportunity to purchase a sustainable income producing investment within Churchtown Village.
  • Well-maintained investment property, in an attractive position. within an affluent village.
  • Existing tenants wholly unaffected by the proposed sale.

Existing tenants wholly unaffected by the proposed sale. The subject property comprises of two ground floor retail units, each self-contained (please note the end retail unit does not form part of this sale). The middle retail unit (7c) is occupied by way of a three-year lease at £6,600 per annum. The end retail unit (7), as indicated within our particulars, is occupied by way of a flexible rolling lease of £675.00 per calendar month, i.e. £8,100 per annum, this tenant is responsible for the payment of electricity, which also services the middle retail unit, whereby there is a cross-invoicing arrangement. Repairing obligations of these leases are drawn on internal repairing and insuring terms, whereby the tenants are also responsible for plate glass. It is our opinion these rentals are arguably concessionary for the accommodation on offer. The first floor has a dedicated side entrance with canopy and buzzer entry system and provides four separate studio areas, each separately assessed for business rates purposes, thus subject to occupiers meeting the necessary criteria, they are currently exempt from the payment of business rates. The entrance hall has a modern staircase in lightwood and glass, and commercial grey carpeting, leading to a landing area, with two stained glass arched windows, together with loft access, which we believe is above studio 4/the gym, as further loft access, via a pull-down ladder. Potential to develop loft space subject to necessary consents. Studio 1 is to the front elevation, with two windows, laminate flooring, sink, radiator and heated towel rail, spotlights and mood surround lighting, this is let at £4,200 per annum. Studio 2 is also to the front elevation and provides one window overlooking Botanic Road, it also has laminate flooring, a modern sink unit, radiator and matching heated towel rail, spotlights and mood surround lighting. This is let at £3,000 per annum. Studio 3 is to the rear elevation of the property and has a bay window overlooking. Laminate flooring is provided, together with a modern sink unit, radiator and matching heating towel rail, again, spotlights and mood surround lighting is provided. This is currently let at £2,700 per annum. Studio 4/the gym is the largest of the four studios and provides three gas central heating radiators, water fountain, loft access with pull-down ladder, mood surround lighting, with spotlights and safety wall mirrors fitted. We also understand the floor has been reinforced with appropriate rubber gym flooring. Please note the sale would include the existing gym equipment, which we understand comprises of six pieces of weight assisted machines, a rowing machine and an air bike, there are also various free weights and medicine balls. The accommodation is ideal for personal training sessions or small group sessions and would be available to rent at £800.00 per calendar month. On the first floor, the property also provides a walk-in shower room, with sink unit and WC, with fully tiled walls, a heated towel rail and an opaque window to the rear of the property. A separate WC is also provided to the side elevation, again with opaque glazing, WC and wash hand basin.
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