Property photos
£675,000
Industrial for sale
Derby Square, Douglas, Isle Of Man IM1Local area information
Property location
Nearby amenities
Features and description
- 9 Registered Permanent Residential Flats
- Present Annual Rental Income Circa £37,546 Gross
- The properties Require Renovation / Upgrading
- Potential to Increase Rental Income
- Excellent Location to Town and Amenities
- Discussion Welcome
Description
This property comprises of 9 let flats and a basement flat and presently Flats 2,3,4,5, and 9 are rented on 12 month leases giving a rental roll of circa £37,546 Gross.
The property requires extensive renovation and upgrading and has the potential to increase the rental income with full occupancy. The main entrance to the majority of the flats is by the No 74 entrance and No 75 leads into a ground floor flat which requires renovation.
The flats are registered as permanent residential and the following information on each flat Re: Occupancy registration details ( ) number of persons and rents.
Flat 1(6) Flat 2 (2) £575pcm Flat 3 (1) £600pcm Flat 4 (1) £144.23pw Flat 5 (1) £144.23pw Flat 6 (2) Flat 7 (2) Note there is No Flat 8 but there is a Lower Ground Flat (Basement) (2) Flat 9 (3) £800pcm Flat 10 (3)
All the flats are rated and of course under the residential leasing the payment is by the Landlord. For Information purposes the following Treasury Rate Year 24/25 All Paid in Full.
Flat 1 £244.20
Flat 2 £355.20
Flat 3 £310.80
Flat 4 £288.60
Flat 5 £222.00
Flat 6 £310.80
Flat 7 £222.00
No Flat 8 (lgf)
Flat 9 £377.40
Flat 10 £377.40
Tenure
Freehold subject to Tenancies'
This property comprises of 9 let flats and a basement flat and presently Flats 2,3,4,5, and 9 are rented on 12 month leases giving a rental roll of circa £37,546 Gross.
The property requires extensive renovation and upgrading and has the potential to increase the rental income with full occupancy. The main entrance to the majority of the flats is by the No 74 entrance and No 75 leads into a ground floor flat which requires renovation.
The flats are registered as permanent residential and the following information on each flat Re: Occupancy registration details ( ) number of persons and rents.
Flat 1(6) Flat 2 (2) £575pcm Flat 3 (1) £600pcm Flat 4 (1) £144.23pw Flat 5 (1) £144.23pw Flat 6 (2) Flat 7 (2) Note there is No Flat 8 but there is a Lower Ground Flat (Basement) (2) Flat 9 (3) £800pcm Flat 10 (3)
All the flats are rated and of course under the residential leasing the payment is by the Landlord. For Information purposes the following Treasury Rate Year 24/25 All Paid in Full.
Flat 1 £244.20
Flat 2 £355.20
Flat 3 £310.80
Flat 4 £288.60
Flat 5 £222.00
Flat 6 £310.80
Flat 7 £222.00
No Flat 8 (lgf)
Flat 9 £377.40
Flat 10 £377.40
Tenure
Freehold subject to Tenancies'
More information
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