c. 10.4% Yield 20 Thomas Street, Portadown, BT623NP

Starting Price* £165,000

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  • Overview
  • Particulars
  • Request Details
  • Agent Details
  • Deposits & Charges Explained

Property Overview

For sale by Kingham Property Specialists via the iamsold Bidding Platform

The current annual rental income for the commercial unit and the 3-bed apartment is £17,680 giving a gross yield of 10.4%.

There is further opportunity to add value through a vacant 1-bedroom unit.

Fully trading hot food take away on the ground floor. Opportunity to purchase A property with commercial premises on ground floor and a Four-bedroom dwelling across the next 2 floors. Located in Portadown Town Centre. Well-established business. Outside yard to the rear.

An opportunity to purchase an investment property with commercial premises on the ground floor and A four-bedroom house spread across the next 2 floors, both with their own separate entrances.

Located in a convenient position, offering carparking nearby and a few minutes’ walk into town centre, the property offers an investment opportunity with both units individually generating an income.

Hot Food Bar:
The hot food take-way well-established business which has been built-up over the last 3 years with modern to date equipment, comes fully fitted out. Pizza base is hugely popular with the Portadown community.

The property offers a further store area to the rear with a door that leads to an outdoor yard facilities and further rooms currently used for storage.

The Townhouse:
The residential accommodation benefits from its own front door, Stairs from the front door lead up to a hallway with doors leading off to a kitchen& living area, 2 bedrooms and further 2 bedrooms to the next floor.

Tenure: Freehold
Annual Rate: £3,125.74

TO VIEW OR MAKE A BID Contact Kingham Property Specialists or iamsold NI, www.iamsoldni.com

Starting Bid and Reserve Price

*Please note this property is subject to an undisclosed reserve price which is generally no more than 10% in excess of the starting bid, both the starting bid and reserve price can be subject to change. Terms and conditions apply to the Unconditional Method of Auction, which is powered by IAM Sold.

Auctioneer's 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, an immediate exchange of contracts takes place with completion of the purchase required to take place within 28 days from the date of exchange of contracts.

The buyer is also required to make a payment of a non-refundable, part payment 10% Contract Deposit to a minimum of £6,000.00.

In addition to their Contract Deposit, the Buyer must pay an Administration Fee to the Auctioneer of 1.80% of the final agreed sale 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.

Energy Performance Certificate (EPCs)

Energy Performance Certificates (EPCs) give information on how to make your home more energy efficient and reduce your energy costs. All homes bought, sold or rented require an EPC. EPCs carry ratings that compare the current energy efficiency and estimated costs of energy use with potential figures that your home could achieve. Potential figures are calculated by estimating what the energy efficiency and energy costs could be if energy saving measures were put in place. The rating measures the energy efficiency of your home using a grade from ‘A’ to ‘G’. An ‘A’ rating is the most efficient, while ‘G’ is the least efficient. The average efficiency grade to date is ‘D’. All homes are measured using the same calculations, so you can compare the energy efficiency of different properties.

Property Particulars

Please contact us for more information about this property.

Request full details for this property

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Kingham Property Specialists

Local Branch: 41 North Street, Lurgan, BT67 9AG
Head Office: 41 North Street, Lurgan, BT67 9AG

Deposits & Charges Explained

c. 10.4% Yield 20 Thomas Street, Portadown, BT623NP

This property is sold unconditionally with the successful purchaser required to place a 10% (minimum £6,000.00) non refundable contract deposit and exchange immediately after the auction.

A buyers administration fee of 1.80% (to a mininum of £2,400.00) including VAT is also required under this method payable by the successful bidder in addition to their winning bid.

This property is being sold under the Traditional Method of Auction, which requires immediate exchange of contracts and allows a further 28 days for completion.

Buyer Fees

There are no other fees or charges payable to the Auctioneer however, there are other costs to consider such as:

  • You will need a Solicitor to act for you during the conveyancing and your Solicitor will advise you in relation to the associated costs. If you do not have a Solicitor, we can recommend the services of one of our Panel Solicitors who are all selected for their expertise in Auction Transactions. Please call the number below for more information.
  • Stamp Duty Land Tax (SDLT) is applicable if you buy a property or land over a certain price in England, Wales or Northern Ireland. Please click here for more information.

 

Need More Information?

For further information or to speak to one of our team, please call 028 9560 8380.

Disclaimer

These particulars, whilst believed to be accurate are set out as a general outline only for guidance and do not constitute any part of an offer or contract. Intending purchasers should not rely on them as statements or representation of fact, but must satisfy themselves by inspection, measurement or otherwise as to their accuracy. No person in this firms employment has the authority to make or give any representation or warranty in respect of the property. Properties may be sold via online auction or public auction and bids made prior to public auction may be accepted by the vendors. IAM Sold and our partner auctioneer will share relevant personal information and transactional updates with each other so that we can effectively market and sell properties including the arrangement of viewings and follow up.

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