£795,000 For Sale

25-27, 25a And 27b Church Street, Ormskirk, L39

Key Features

  • Existing Long Standing Butchers - Wholly Unaffected by the sale.
  • Ground Floor Retain Unit/Butchers Let on a 10 year lease at £32,000 per annum.
  • Seven bedroom HMO Accommodation - Historically producing £37,030 per annum (gross) for a 46 week term - offered with vacant possession.
  • Self Contained Apartment Let on a 12 month AST from completion at £500 pcm (£6,000 per annum).
  • Ormskirk Town Centre Premises.
  • Part Grade II listed property extending to over 6,775 sq ft.
  • No VAT on purchase price.

Fully let double fronted retail unit let on a 10 year lease at £32,000 per annum, vacant 7 bed student HMO historically producing £37,030 per annum (46 week term) offered with vacant possession and a self contained two bedroom flat let on a 12 month AST from completion at £6,000 per annum. Retail Unit 25-27 Church Street, Ormskirk The ground floor comprises of two interconnecting retail units, the front to one side being a butcher, the other side as a delicatessen. Beyond which are extensive meat and food preparation areas and refrigeration unit in addition to a rear storage area, vehicular access to which can be provided off Park Road. From the covered and gated ginnel to the side of 27 Church Street access is provided to a substantial basement storage area, as indicated on the floor plan. The ground floor is let by way of a 10 year lease with a five year rent review and schedule of condition attached, to Idas Ltd (Company Number 05868449 and established in 2006) at a rental of £32,000 per annum exclusive. A copy of the lease is available upon request. We understand the shop front to 27 Church Street is Grade II listed. A copy of which is available upon request. Seven bedroom Student HMO - 25a Church Street, Ormskirk Offered with vacant possession and accessed to the side of 25 Church Street is the student HMO accommodation which extends over the first and second floors of No.25 Church Street, Third Floor being a sealed off attic room. To the first floor there is a rear lounge, kitchen and shower room with 4 letting rooms. The second floor has a further three letting rooms and shower room. A copy of the HMO licence from WLBC is available on request. In addition to information such as the certification re independently supplied gas, electrical, fire and smoke alarm installation. We understand historically all rooms were let at £115 per week on the basis of a 40 term thus producing £37,030 per annum. Considered a sustainable HMO location within Ormskirk town centre we believe there could be scope to alter, upgrade and adapt the accommodation to enhance rental income as well as increasing letting term contract. Annual landlords costs typically range between £7,000 to £8,000 per annum. Example breakdowns of annual landlords expenditure are available upon request. Residential Apartment - 27b Church Street Extending over the first and second floors above 25 Church Street is a self contained apartment which from completion will be let on a 12 months Assured Shorthold Tenancy at £500 per calendar month to a Director of Idos Ltd. The first floor provides a shower room off the landing together with an office/store, lounge and bedroom. The second floor provides a further bedroom, lounge and galley kitchen. This flat is separately metered for utilities (gas and electrical safety certificates available) and is separately assessed for Council Tax, for which the tenant is responsible.
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