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Under Offer

629 Smithdown Road, Liverpool, Merseyside, L15 5AG

  • Freehold Investment Opportunity
  • Potential To Re-Gear
  • Let To Capital Cash Limited
  • National Occupier With Turnover Of £30.3 Million Pounds
  • Prime Location Within A Well-Established Commercial District
  • Net Initial Yield of Circa 7% (After Purchaser`s Costs of 3.3%)

Location The property is situated fronting on to Smithdown Road at its junction with Westgate Road and Smithdown Place/Penny Lane, approximately 4 miles southeast of Liverpool City Centre. Smithdown Road is a main arterial route linking Liverpool City Centre with the surrounding Merseyside area, and provides a popular shopping district serving a well-established residential community. The nearby Allerton Road District Centre comprises a number of local and national retailers, including Tesco, Costa, Halifax Bank, Boots, WH Smith, Max Spielmann, and Santander to name but a few. The Property The subject property comprises of two adjoining interconnecting three-storey end terrace buildings of traditional brick construction. It is currently occupied by Cash Converters, and is fit out for their purpose, benefiting from ground floor retail sales area with office provision to the rear of the unit and self contained ancillary storage accomodation to the first and second floors, benefiting from kitchenette and WC facilities. Accommodation We have measured the premises in accordance with the RICS Code of Measuring Practice (6th Edition) to provide the following approximate areas and dimensions: Ground Floor Net Internal Area: 77.5 sq.m. (833 sq.ft.) First Floor Net Internal Area: 80.5 sq.m. (867 sq.ft.) Second Floor Not Measured, but is understood to be 80.5 sq.m. (867 sq.ft.) Tenancy Information The entire property is currently let to Capital Cash Limited, on a Full Repairing and Insuring Lease for a Term of 10 years from April 2010, at a current passing rent of £21,500 per annum. Covenant Information Capital Cash Limited is a franchisee of a well-established national operator, currently trading as Cash Converters. They have been trading for over 24 years, and are currently part of the UK`s largest second-hand goods retailers. Year Turnover Pre-Tax Profit 30th Sept 2016 £22,276,890 £388,868 30th Sept 2017 £27,510,328 £440,979 30th Sept 2018 £30,305,806 £401,805 EPC Available upon request. Rates We understand through internet enquiries that the ground floor has a rateable value of £10,500. For further information, interested parties should make their own enquiry of Liverpool City Council`s Rating Department on 0151 233 3008 or www.voa.gov.uk/businessrates. Price Offers in the region of £300,000 for the Freehold Interests, which would show a net initial yield of approximately 7% after allowing for purchaser`s costs at 3.3%. V.A.T. We understand that the property is not subject to V.A.T. Viewings Strictly by appointment via the sole agents SK Real Estate (Liverpool) Ltd Tel: 0151 207 9339 / Contact: Tom Pearson (tom.pearson@skrealestate.co.uk)

Listed By:

SK Real Estate
2 Cotton Street,
Liverpool, L3 7DY
Tel: 0151 207 9339
Email: commercial@skrealestate.co.uk

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