Location Map

Here is the location of the property in question:

48a-74 Thomas Street, Portadown

Price: £500,000

For Sale by Private Treaty

PDF Brochure

Features

Comprising 14 houses in Portadown Town Centre.
Currently producing an annual income of £53,170 p.a. (gross).

Potential annual income on letting no.50 - £57,590 p.a. (gross).

Full Description

Location

Thomas Street is situated south of the town centre and is conveniently close to town centre amenities, local schools and businesses.

Description

The portfolio comprises 14 terraced houses 1 of which is currently vacant. The properties vary from 700 - 900 sq.ft. and differ in specification. The last refurbishment was completed in 2006. All tenants are currently on long term agreements.

Title

Understood to be held on a variety of long leasehold titles. The properties are currently let as follows:

House No.	Tenant	Bedrooms	Terms	Rent (Weekly)
48	Mr & Mrs Steenson	3	Life Interest	£34.20
50	Vacant	3	21/02/11 to 31/03/12	£85.00
52	Sandee Alfar	3	21/02/11 to 31/03/12	£85.00
54	Donald Wray	2	21/02/11 to 31/03/12	£77.69
56	Trudi Elmir	2	21/02/11 to 31/03/12	£82.50
58	Gordon Fluke	2	21/02/11 to 31/03/12	£80.00
60	Robert Phair	2	21/02/11 to 31/03/12	£85.11
62	Patrick Loughead	2	21/02/11 to 31/03/12	£85.00
64	Maria Yrastorza	2	21/02/11 to 31/03/12	£85.00
66	Gary Coaton	1	21/02/11 to 31/03/12	£80.00
68	William McClatchey	2	21/02/11 to 31/03/12	£80.00
70	Michael Murphy	1	21/02/11 to 31/03/12	£78.00
72	Sandra Monteiro	2	21/02/11 to 31/03/12	£85.00
74	Mr & Mrs Foy	2	21/02/11 to 31/03/12	£85.00

Price

Offers invited in excess of £500,000 reflecting on initial yield of 10.48% (gross) and 11.35% (gross) when fully tentanted assuming costs of 1.5%.

Annual / Weekly Income	Gross
Current Total Weekly	£1,022.50
Current Total Annual	£53,170
Anticipated Total Weekly	£1,107.50
Anticipated Total Annual	£59,590

Rates

Total Nav for all properties: £792,500

Rates in the £ for 2011/12: 0.007469

Rates payable: £5,919.18

NB

All prices, charges and rents are quoted net of VAT, which may be chargeable.

Viewing Details

By appointment with the joint selling agents, Lisney or Michael Hannath Estate Agents.

Contact Details

Lisney Belfast, 5 Linenhall Street, Belfast, BT2 8AA

David McNellis | +44 2890 501551 | dmcnellis@lisney-belfast.com

Legal Information:
Lisney and the Vendor/Lessor give notice that: 1. These particulars are for guidance only and do not constitute nor constitute any part of an offer or a contract. 2. All statements contained in these particulars as to this property are made without responsibility on the part of the Agents or the Vendor/Lessor. 3. None of the statements contained in these particulars as to this property are to be relied on as statements or representations of fact. 4. The particulars, various plans, photographs, descriptions and measurements have been carefully prepared, but their accuracy is not guaranteed and any intending Purchasers/Lessees shall satisfy themselves by inspection or otherwise as to their correctness. No omission, accidental error or misdeception shall be a ground for a claim for compensation or for the recission of the Contract by either the Vendor/Lessor or the Purchaser/Tenant. 5. Neither the Vendor/Lessor nor Lisney nor any person in their employment has any authority to make or give any representation or warranty in relation to the property. 6. Prices are quoted exclusive of VAT (unless otherwise stated) and all the negotiations are conducted on the basis that the Purchaser/Tenant shall be liable for any VAT arising on the transaction.