Commercial Investment
Location
The property is located fronting onto Hatton Garden within the Eden Square development. The immediate surrounding area comprises a number of regional and national type occupiers such as Tesco and Travelodge with various Liverpool/John Moores University buildings within close proximity. The property also benefits from being in close proximity to the cities amenities including the prime retail shopping locations, restaurants and access to the public transport network such as Moorfields inner city railway station approximately 0.2 miles east.
The Property
The subject premises comprises of a fully fitted office provision to a high standard with a self-contained ground floor entrance fronting on to Hatton Garden within a mixed use Eden Square development with the other floors comprising luxury serviced apartments. Internally the property benefits from full height aluminium double glazed frontage, concrete flooring throughout, W.C. and kitchenette 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:
Net Internal Area: 91.9 sq.m (989 sq.ft)
Tenancy
The property is currently let to a retail occupier on an effectively Full Repairing and Insuring Lease for a Term of 10 years from September 2019 at an initial rent of £14,000 per annum, subject to a break clause on the 2nd and 5th Anniversaries of the term and a rent review on the 5th Anniversary.
Tenure
We understand the property is held by way of a 150 year lease from the 1st January 2003 on a peppercorn ground rent. Full details available upon request.
EPC
The property has an EPC rating of D87. A full copy of the report is available upon request.
Rates
We understand through internet enquiries that the property has a rateable value of £4,600.
The Uniform Business Rate for 2018/19 is 48.4p (or 49.7p above £18,000). 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
£150,000 plus V.A.T, reflecting a Net Initial Yield of 9.17% (after deducting purchasers costs at 1.8%)
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).
