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Attractive opportunity to purchase a freehold office building in an excellent central position on Prospect Hill, Douglas opposite Athol Street. The building comprises of a former hair salon on the basement and ground floor, with three floors of offices above that has potential to produce an annual rental income of £20,000 per annum when fully let, reflecting a gross yield of 7.27%.
Basement, ground floor, first floor and second floors are vacant. Third floor is tenanted on a 1 year lease achieving a rental income of £3,120 per annum.
The property has been partially refurbished to include the installation of uPVC windows and the redecoration of the office space.
Total NIA 1,508 sq ft.
The property is located in the heart of the prime financial district within Douglas convenient for the Government buildings and shopping facilities of central Douglas.
Ground Floor + Basement
Fully refurbished hair salon - 562 sq ft.
Two offices with kitchenette and private WC - 300 sq ft.
Two offices with kitchenette and shared WC - 336 sq ft.
Office with kitchenette and shared WC - 310 sq ft.
Mains services are connected.
Sold subject to existing tenancies and on completion of all legal formalities.
Strictly by prior appointment through the Agents, Chrystals Commercial.
T: 01624 623778
T: 01624 833903
T: 01624 625300
T: 01624 625100
Registered Office: Chrystal Bros. Stott & Kerruish Ltd. T/A Chrystals, 31 Victoria Street, Douglas, Isle of Man IM1 2SE
Registered in the Isle of Man No. 34808 | VAT Registration Number: 001090349
Directors: Shane Magee MRICS, Neil Taggart MRICS, Joney Kerruish MRICS & Dafydd Lewis MRICS