CPS are delighted to have been appointed to list for sale these five excellent industrial units based in Lurgan within Annesborough Industrial Estate. These units ideally suit a variety of uses subject to statutory planning approvals. These units are available all as one lot or can be sold individually and would suit for both owner occupiers and/or for investment.
LOCATION
These industrial/warehouse units are located within Annesborough Industrial Estate, Annesborough Road, just off the Lough Road in Lurgan. This area comprises various industrial business parks as well as some housing developments; benefiting from high volumes of vehicular passing trade. Ideally situated in close proximity to the M1 Motorway, these units offer excellent accessibility for small to medium sized businesses.
DESCRIPTION
Annesborough Industrial Estate comprises of twelve (12) self-contained units and we have been instructed to list for sale five (5) of the units, which benefit from a secure industrial estate with gated access, car parking facilities, and three phase electric.
Unit 1 – This unit is currently fitted out as offices and is Circa 2,700 Sqft including two mezzanine floors, WC & shower facilities, electric roller shutter access and glazed entrance. This unit has a sitting tenant with approximately 4 years remaining on the lease with a gross rental income of £18,000 Per Annum
Unit 2 – This unit is currently occupied for storage, however will become vacant upon possession or earlier. The unit is a shell finish Circa, 970 Sqft with WC facilities, electric roller shutter access and glazed entrance.
Unit 5 – This unit is currently being used for storage, however will become vacant upon possession. The unit is a shell finish Circa 1,940 Sqft including a mezzanine floor with WC facilities, electric roller shutter access and glazed entrance.
Unit 10 - This unit is currently being used for storage, however will become vacant upon possession. The unit is a shell finish Circa 970 Sqft with WC facilities, electric roller shutter access and glazed entrance.
Unit 11 - This unit is currently being used for storage, however will become vacant upon possession. The unit is a shell finish Circa 1,647 Sqft including a mezzanine floor with WC facilities, electric roller shutter access and glazed entrance.
SALE PRICE
We have been instructed to seek offers in the region of:
13% Rental Yield Unit 1 – £130,000 (One Hundred and Thirty Thousand Pounds)
11% Rental Yield Unit 2 – £80,000 (Eighty Thousand Pounds)
Unit 5 – £80,000 (Eighty Thousand Pounds)
Unit 10 – £80,000 (Eighty Thousand Pounds)
Unit 11 – £99,950 (Nintey Nine Thousand, Nine Hundred & Fifty Pounds) - SALE AGREED
Total - £469,950 (Four Hundred & Sixty Nine Thousand, Nine Hundred & Fifty Pounds)
RATES
As per the LPS website
Unit 1 – NAV £4,200 (Warehouse) – 2023/24 Rates Payable £2,367.31
Unit 2 – NAV £3,650 (Workshop) – 2023/24 Rates Payable £2,057.30
Unit 5 – NAV £4,200 (Warehouse) – 2023/24 Rates Payable £2,367.31
Unit 10 – NAV £4,200 (Workshop) – 2023/24 Rates Payable £2,367.31
Unit 11 – NAV £4,200 (Warehouse) – 2023/24 Rates Payable £2,367.31
VIEWING INFO
For further information or if you wish to arrange a viewing, please contact our commercial team on 028 37 52 88 88
Auctioneers Comments:
This property is for sale under Traditional Auction terms. Should you view, offer or bid on the property, your information will be shared with the Auctioneer, iamsold.
With this auction method, the buyer and seller must Exchange immediately, and Complete 28 days thereafter.
The buyer is required to make payment of a non-refundable Contract Deposit of 10% to a minimum of £6,000.00.
The buyer is also required to make a payment of a non-refundable, Buyer Administration Fee of 1.80% of the purchase price including VAT, subject to a minimum of £2,400.00 including VAT, for conducting the auction.
Buyers will be required to go through an identification verification process with iamsold and provide proof of how the purchase would be funded.
Terms and conditions apply to the traditional auction method and you are required to check the Buyer Information Pack for any special terms and conditions associated with this lot.
The property is subject to an undisclosed Reserve Price with both the Reserve Price and Starting Bid being subject to change.
Referral Arrangements
The Partner Agent and Auctioneer may recommend the services of third parties to you. Whilst these services are recommended as it is believed they will be of benefit; you are under no obligation to use any of these services and you should always consider your options before services are accepted.
Where services are accepted the Auctioneer or Partner Agent may receive payment for the recommendation and you will be informed of any referral arrangement and payment prior to any services being taken by you.
