SOLD
1-1A-3-3A Albert Street + Bank Lane
Bangor
BT20 5EF
Investment Property (with Future Development Potential)
(available as one or two separate lots)
This property is situated close to Bangor Seafront to the rear of the Marine Court Hotel and a short walk to the High Street.
The property comprises 3 no. ground floor shops and a first floor store fronting Albert Street with land directly to rear, accessed off Bank Lane, which has 22 no. small garages to rear.
All units are currently let, other than the first floor store at 1A, and total rental income is presently £23,696 per annum.
Whilst the property has not been well maintained in recent years it does have potential for redevelopment, subject to planning.
Site Plan available on request
Viewing
By appointment with Brian S Patterson 07767 442999
or Office 028 9131 3830
Co-Agents
Neill Estate Agents
98-100 Main Street, Bangor BT20 4AG
02891 270283
Click here to download a pdf brochure
ACCOMMODATION
Lot 1
1 Albert Street: Ground Floor Shop – 362 sq.ft. (33.6 sq.m.)
1A Albert Street First Floor Stores – 1,100 sq.ft. (102.2 sq.m.)
3 Albert Street Ground Floor Shop – 550 sq.ft. (51.1 sq.m.)
3A Albert Street Ground Floor Shop – 242 sq.ft. (22.5 sq.m.)
Lot 2
22 no. Lock-up Garages with double doors.
LEASES
Lot 1
1 Albert Street Yearly tenancy £4,400 p.a. plus rates
1A Albert Street currently vacant and in poor condition
3 Albert Street Yearly tenancy £4,500 p.a. plus rates
3A Albert Street Yearly tenancy £2,796 p.a. plus rates
Lot 2
Let on various short tenancies at rents of £40-£50 per month
PRICE – £200,000
Individual Lots – offers invited
VAT
We are advised that the property is not registered for VAT
RATES
1 Albert Street NAV £2,950
1A Albert Street NAV £1,700
3 Albert Street NAV £4,600
3A Albert Street NAV £2,200
Garages Each garage has a capital value for rating purposes of £2,750 (domestic)
EPC’s
1 Albert Street D-89
1A Albert Street G-168
3 Albert Street C-57
3A Albert Street D-94
Details available by application to Agent