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Summerhill Grove Douglas, Isle Of Man Asking price: £299,000

Sold STC
  • External
    External
  • First Floor Studio
    First Floor Studio
  • Warehouse
    Warehouse
  • First Floor Studio
    First Floor Studio
  • Warehouse
    Warehouse
  • Warehouse
    Warehouse
  • First Floor Studio
    First Floor Studio
  • Bathroom
    Bathroom
  • Kitchen
    Kitchen
  • Conservatory
    Conservatory
  • Warehouses
    Warehouses

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  • Mixed-use investment
  • Reduced to £299,000
  • Versatile residential accommodation
  • Two industrial units
  • Estimated rental value: £23,900 per annum
  • Gross yield: 8%

A unique opportunity to acquire a mixed-use investment that offers both versatile residential accommodation and two industrial units for storage/workshop space. The residential accommodation enjoys picturesque views of Douglas Bay due to its elevated position on Summerhill.


Location

Travelling from Queens Promenade towards Onchan, bear left onto Summerhill and take the first left into Summerhill Grove. Again, take the first left where the residential property can be found at the end of the lane. The industrial units can be found between Pizza King and L’Experience at the base of Summerhill and can be access only by foot.

Accommodation

Versatile 3 Bedroom Residential Apartment – 1,771 sq ft approx.

Comprising 3 double bedrooms (2 en-suite), 2 kitchens, reception room, conservatory, balcony and attic room/studio.

2 no. Industrial Units - 1,360 sq ft plus mezzanine of 490 sq ft and 1,495 sq ft plus mezzanine of 735 sq ft.

Comprising ground and open plan first floor stylish studio space with additional mezzanine level that can be used for storage. Both with W/C facilities.

Potential Rent

Versatile 3 Bedroom Residential Apartment
Estimated rental value - £700pcm (£8,400 p.a.)

Industrial Unit 1,360 sq ft plus mezzanine of 490 sq ft
Estimated rental value - £7,000 p.a.

Industrial Unit 1,495 sq ft plus mezzanine of 735 sq ft
Estimated rental value - £8,500 p.a.

Total estimated rental value - £23,900 per annum.
Gross yield when fully let - 8%

Services

Mains services are installed to both the residential and commercial properties.

Possession

Vacant possession on completion of legal formalities.

Viewing

Strictly by prior appointment through the Agents, Chrystals Commercial.


Summerhill Grove Douglas
Isle Of Man IM2 4PH
County: Iom
Sale Type: Sold STC
Ref #: C2171

P: 01624 625100
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