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9 - 11 Ringrash Road
Macosquin, Coleraine, BT51 4LH
- Status Sale Agreed
- Property Type Investment Property
-
Stamp Duty
Higher amount applies when purchasing as buy to let or as an additional property£0 / £6,250*
Description
Investment opportunity with benefit of planning permission for residential and commercial development.
The subject at present includes a convenience store trading as a Mace and incorporating the local Post Office along with a vacant former dwelling attached.
The Mace is currently held under a lease with almost three years remaining. The holding benefits from Planning Permission, granted 9th March 2022 for the redevelopment of the site to incorporate a new convenience store along with eight apartments and associated parking.
LOCATION
This subject property is centrally located in the village of Macosquin which is c. 3.5 miles to the south west of Coleraine Town Centre and c. 10 miles east of Limavady two primary towns in the Borough of Causeway Coast and Glens.
Macosquin is set off the A37 the main arterial route linking Coleraine to Londonderry.
DESCRIPTION
The subject at present includes a convenience store trading as a Mace and incorporating the local Post Office along with a vacant former dwelling attached with almost three years remaining.
The holding benefits from Planning Permission, granted 9th March 2022 for the redevelopment of the site to incorporate a new convenience store along with eight apartments and associated parking.
ACCOMMODATION
11 RINGRASH ROAD - CONVENIENCE STORE
GROUND FLOOR
Retail c. 1715 Sq. Ft./ 160 Sq. M.
Stores c. 220 Sq. Ft. / 20 Sq. M
Main Store c. 740 Sq. Ft. / 69 Sq. M.
9 RINGRASH ROAD - VACANT/DERELICT DWELLING.
SITE AREA
The site extends to c. 0.4 of 1 acre.
PLANNING PERMISSION
The site benefits from planning permission for “Proposed development to include new village shop, post office, 8 no residential units with entrance road and car parking”.
Planning Reference—LA01/2020/0790/F and granted 9th March 2022
SALE DETAILS
SALES PRICE: Offers Around £125,000
TITLE: Freehold (to be confirmed by vendors solicitors)
Existing Lease:
Passing Rent: £8004 per annumTerm: 6 years: Expires 31st December 2028
Start Date: 1 January 2023
Repair Obligation: Tenant responsible for interior and contribution to the exterior.
Insurance: The landlord pays the annual premium and the tenant reimburses.
Rates: £7,600 per annum
VAT
The sale price, rents, outgoings are subject to VAT at the standard rate.
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