Coleraine is a large town in Co Londonderry located approximately 55 miles (89 km) northwest of Belfast and 40 miles (64 km) northeast of Derry City. The property is located approximately 1 mile (1.6 km) north of the town centre on the Cromore Road opposite the entrance to the Ulster University Coleraine Campus. The surrounding area primarily comprises housing with a train halt located nearby to the rear of the premises.
The property comprises 21 student accommodation units and a caretaker's office on a site extending to approximately 1.13 acres (0.46 hectares) with good frontage of 640 ft to the Cromore Road. The units are of a modern construction built in the early 1990s and are finished with a plastered external render with pitched roofs covered with concrete tiles, uPVC double glazed windows and communal oil fired central heating.
We have been provided with the following accommodation details:-
16 no. 4 bed units of approximately 830 sq ft
4 no. 2 bed units of approximately 511 sq ft
1 no. 5 bed units of approximately 1,050 sq ft
We are advised the property is currently let to Ulster University Coleraine (UUC) from September 2018 to May 2019 (37 weeks) at a gross rent of £115,000 (Landlord responsible for communal costs). The lease with UUC is renewed on an annual basis.
An Energy Performance Certificate (EPC) will be available as part of the legal pack. EPCs Range from D68 - C78
* 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.
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