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7-11 Douglas Street, Peel Reduced to: £325,000

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  • Area: 2,192 sq ft NIA approx
  • Passing rent £23,500 per annum
  • Tenant with strong convenant
  • Prime town centre location
  • 8 car parking spaces
  • Gross yield - 6.7%

An excellent commercial investment property occupied by Lloyds Bank PLC with a strong covenant in the centre of Peel, currently producing £23,500 per annum. The building extends approx. 2,192 sq ft and benefits from 8 car parking spaces.


Location

Travelling into Peel from Douglas, take a left turning into Queens Drive at the junction with Albany Street. Take the next right at the round about and continue to the junction with Patrick Street. Turn right and continue to Market Place where Douglas Street can be seen on your right. The premises can be found on the left hand side in the centre of Peel's main retail area.

Accommodation

Ground Floor
Retail/Banking Hall - 1,800 sq ft approx. NIA.
Storage/Staff - 392 sq ft approx. NIA.

Parking

8 car parking spaces.

Lease Terms

The property is currently let to Lloyds Bank PLC. The lease was agreed from 12th February 2014 for a term of 6 years at a passing rent of £22,000 per annum, exclusive of VAT and rates. There is a tenant break option and rent review after the third year, which is a fixed uplift to £23,500 per annum.

Services

Mains water, electricity and drainage are available.

Possession

Sold subject to existing tenancies and on completion of all legal formalities.

Viewing

Strictly by prior arrangement through the Agents, Chrystals Commercial.


7-11 Douglas Street
Peel IM5 1BA
County: Isle Of Man
Sale Type: For Sale
Ref #: C2208

P: 01624 625100

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