Scotland Road, Warrington

We are delighted to offer for sale this prestigious multi-unit freehold block. This is a fully let investment opportunity with development potential for a further 50 new-build apartments, subject to planning.  

The property comprises a healthy mix of eight commercial units, including a Ladbrokes betting office, together with 32 apartments consisting of 22 two-bedroom and 10 one-bedroom units.  

The current gross rental income totals £494,300 per annum. This includes £18,000 per annum from the car park, which is also the development site; this equates to a gross yield of 8.6%. The net initial yield (including stamp duty and purchase costs and deducting 10% expenditure from the residential rent elements) is just over 7.5%.  

The property is well maintained throughout and features contemporary design within the entrance lobby and communal areas. All floors are accessed via passenger lifts and stairwells.   The commercial occupiers include an established oriental buffet restaurant, a Ladbrokes betting office, formal wear hire, a hairdressers, and a baby scanning centre, all of which are well-established tenants.

Location
The asset is ideally located on the northern fringe of Warrington Town Centre, overlooking the modern Bus Station and Central Railway Station. The latter offers convenient, direct transit to Manchester and Liverpool, both within a 30-minute train journey.

Bank Quay Railway Station provides direct links to London Euston in approximately two hours and is reachable within a 10-minute walk.

Warrington Town Centre and all its amenities are immediately accessible upon leaving the property.

Sale Terms
£5,750,000.

Gross Annual Income
£494,300 per annum (includes car park element £18,000 pa)

Gross Yield
8.6%.

Net Initial Yield
7.5% (after costs and 10% residential expenditure.

Capital Rate
Only £165 per ft².

VAT
We are advised that VAT is applicable to the above sale price.

Services
Mains electricity, gas, water and drainage are connected.

Legal Costs
Each party are responsible for their own legal costs.

EPC Rating
Multiple Listings.

Available Area