7 Railway Road

LOCATION
This subject property is well located on a busy retail section of Railway Road within Coleraine Town Centre. Railway Road forms part of the busy one way traffic system that services the town but is adjacent to the Leisure Centre Car Park and there is on street parking on both sides where the subject property is situated.
Coleraine is one of the hub towns within the Borough of Causeway Coast and Glens which has benefitted significantly from increased tourism and development in recent years.

DESCRIPTION
The property is a mid terrace three storey building with the ground floor being occupied by Action Cancer. The upper floors offer extensive accommodation over two floors that could be refurbished into office space or converted to residential flats subject to standard permissions and approvals.

TENANT
The ground floor portion of the property is occupied under a 5 year lease with Action Cancer as the tenants. This is the second five year term that they have been in occupation.

ACCOMODATION
GROUNDFLOOR

Retailc. 862 Sq. Ft./80 Sq. M.
Kitchen/Storeroom 126Sq.Ft./11.7Sq.M

FIRST FLOOR

- Room 1 309 sq ft 28.72 sq m
- Room 2 175 sq ft 16.29 sq m
Open Plan to Kitchen 89 sq ft 8.24 sq m
Comprising built-in cupboards,
single drainer stainless steel sink
unit and store below stairs.
- Room 3 159 sq ft 14.77 sq m
- Toilets comprising low flush wc and 2 x wash hand basins.

SECOND FLOOR

- Room 4 159 sq ft 14.77 sq m
- Room 5 80 sq ft 7.40 sq m
- Room 6 100 sq ft 9.28 sq m

SALE DETAILS
SALES PRICE: Offers over £175,000
TITLE: Freehold
Existing Lease:
Tenant: Action Cancer
Passing Rent: £10,000 per annum
Term: 5 years: Expires 30 June 2027
Start Date: 1 July 2022Original lease commenced 1 July 2017?
Rent Review: 3 yearly (The rent review has nt been implemented)
Repair Obligation: Tenant responsible for interior.
Insurance: The landlord pays the annual premium and the tenant reimburses 50%.

VAT
The sale price, rents, outgoings and costs are exempt of but maybe liable to VAT to be confirmed by Vendors Solicitors and Accountants.

VAT: Prices and outgoings are exclusive of but may be subject to VAT

Viewing
Strictly By Appointment with Agent.

Further Details
Philip Tweediephilip@philiptweedie.com Tel. 02870344433
SolicitorsAnderson Gillan Barr, 41 New Row, Coleraine, BT52 1AE FAO Andrew Taylor