3 Market Hill, Douglas

  • Asking price: £425,000

Overview

  • Commercial
  • Property Type
  • 0   
  • Bedroom
  • 0   
  • Bathroom
  • 2716
  • Sq Ft

Description

  • Area: 2,716 sq ft
  • Fully tenanted
  • Rental income: £30,000 per annum
  • 7.05% gross yield

An exciting opportunity has arisen to purchase this mixed use investment property situated in a prominent position on Market Hill in Douglas.

Arranged over 5 floors, the property comprises of a delightful restaurant over 4 floors and a good sized top floor apartment.

The spacious restaurant comprises of a restaurant area split over 3 floors with one of the floors used for functions, kitchen and basement for storage.

A good sized apartment comprising of a lounge with an open plan kitchen, bedroom and bathroom.

Both units are tenanted by Full Moon Thai since June 2022 on a 10 year lease with a 5 year break clause. Rent: £30,000 per annum, with rent reviews on the 2nd, 4th and 7th anniversaries to be not less than 10%. Tenant pays the rates and building insurance.

Details

Updated on December 4, 2023 at 8:01 pm
  • Property ID: DR3626
  • Price: Asking price: £425,000
  • Property Size: 2716 Sq Ft
  • Bedroom: 0   
  • Bathroom: 0   
  • Property Type: Commercial
  • Property Status: For Sale

Address

  • Area Douglas

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