Lot 103 - 49 Downpatrick Street, Rathfriland, Down, BT34 5PX

  • Unconditional Online Auction Sale
  • Guide Price* : £160,000
  • Extensive Two Storey Property comprised of 3 Ground Floor Commercial Units and 4 Apartments
  • The property occupies a prominent position at Downpatrick Street and Cadells Lane, Rathfriland.
  • One of the Commercial Units is occupied by a Beautician, the other two are vacant, with one of them having Full Planning Permission for Change of Use to a 1 Bedroom Apartment).
  • There are 2 Apartments currently rented leaving 2 Vacant Apartments which require refurbishment.
  • The Units which are currently tenanted have a combined rental income of £1110 per month.
  • With the required investment and all units rented one would expect a potential Yield of £2500 pcm or £30,000 per annum

Description

We are pleased to welcome to Auction this extensive Two Storey property, which currently is comprised of 3 Ground Floor Commercial Units (One of which is occupied by a Beautician, the other two are vacant and with one of them having Full Planning Permission for Change of Use to a 1 Bedroom Apartment). There are 4 Apartments with 2 Apartments currently rented leaving 2 Vacant Apartments which require refurbishment. The property occupies a prominent position at Downpatrick Street and Cadells Lane, Rathfriland. The premises are conveniently located close to local shops, schools and pharmacies and benefits from a significant residential catchment population in the surrounding area. This excellent investment opportunity offers the chance to provide much needed Accommodation and Commercial Units to the area. The units which are currently tenanted have a combined rental income of £1110 per month. With the necessary refurbishment work carried out to the vacant apartments and the conversion of the one Commercial Unit, and all units rented one could expect a potential Yield of £2500 pcm or £30,000 per annum.


* No information, statement, description, quantity or measurement contained in any sales particulars, or given orally, or contained in any webpage, brochure, catalogue, email, letter, report, docket or hand out, issued by or on behalf of BRG Gibson Auctions Ltd, or the vendor in respect of the property shall constitute a representation, or a condition or a warranty on behalf of BRG Gibson Auctions Ltd, or the vendor. Any information, statement, description, quantity or measurement so given or contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BRG Gibson Auctions Ltd, or the vendor are for illustration purposes only and are not to be taken as matters of fact. Any mistake, omission, inaccuracy or mis-description given orally, or contained in any sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BRG Gibson Auctions Ltd, or the vendor shall not give rise to any right of action, claim, entitlement or compensation against BRG Gibson Auctions Ltd, or the vendor. All bidders must satisfy themselves by carrying out their own independent due diligence, inspections or otherwise as to the correctness of any and all of the information, statements, descriptions, quantity or measurements contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BRG Gibson Auctions Ltd, or the vendor.

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