Coleraine is situated 55 miles from Belfast and 30 miles from Derry. It has a population of approximately 24,483 according to the 2021 census. The town is very well linked by major roads and railway connections.
The property is situated on Hanover Place, adjacent to the River Bann and retailers including Kwik Fit and Tescos.
The property comprises a purpose built single storey standalone unit of steel framed construction with metal roof cover and brick walls. The unit has been fitted in KFC corporate style incroporating food preparation, servery, customer seating and ancilliary areas. On site car parking is provided.
Ground Floor 2,127 sqft (197.6 sqm)
A 20 year lease term with effect from November 2016 at an annual passing rent of £34,778. The lease is subject to 5 yearly rent reviews with fixed rental uplifts reflecting 2.5% annually compounded.
An Energy Performance Certificate (EPC) will be available as part of the legal pack. EPC - C60.
All figures quoted are exclusive of and may therefore be liable to VAT.
Please refer to vendor’s solicitor for Title Pack or download from the OK Auction website (www.osborneking.com/online-auctions).
Net Annual Value: £39,000
Estimated rates payable for 2025/2026: £23,593
* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
By setting a proxy bid, the system will automatically bid on your behalf to maintain your position as the highest bidder, up to your proxy bid amount. If you are outbid, you will be notified via email so you can opt to increase your bid if you so choose.
If two of more users place identical bids, the bid that was placed first takes precedence, and this includes proxy bids.
Another bidder placed an automatic proxy bid greater or equal to the bid you have just placed. You will need to bid again to stand a chance of winning.