Property

OIEO £2,500,000. Unique Investment Opportunity to Purchase an Approx. 10,416sq/ft Purpose Built Retail Unit Set Over 3 Storeys, With Tenants in Situ on a 10 Year Lease. Located Within a Prime Position on Strand Street, in the Heart of Douglas. High Quality Modern Specification Throughout.

Agents Comments

Cowley Groves are delighted to offer this unique investment opportunity to purchase an approx. 10,416sq/ft purpose built retail unit set over 3 storeys, with tenants in situ on a 10 year lease, for offers in excess of £2.5M.

The new tenants, a large UK retailer, have recently signed a 10 year lease with a 5 year break clause, beginning July 2022. The initial rent is £175,000 Per Annum, with an upward only open market rent review at year 5. For further details, please contact Orry-James Creane on 01624 625888 (option 2) or email ojcreane@cowleygroves.com.

Accommodation

Ground Floor

Sales Area (approx. 3,535sq/ft)

Impressive double height glazed frontage.

Gross Frontage: approx. 48’3 (14.7m) net

Internal Frontage: approx. 38’2 (11.63m)

Width (average): approx. 45’0 (13.72m)

Shop Depth: approx. 78’6 (23.93m)

Built Depth: approx. 89’6 (27.28m)

First Floor

Sales Area (approx. 3,359sq/ft)

Ancillary (approx. 120sq/ft)

Second Floor

Stockroom (approx. 2,976sq/ft)

Staff (approx. 426sq/ft)

Additional Information

All floors are linked by a lift and bespoke sales staircase. Facilities include W.C.’s on both the first and second floors, a disabled W.C., two changing rooms, CCTV, heating and air conditioning system and staff finger print recognition.