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Mixed use for sale

3 Market Hill, Douglas
Mixed use
Added > 14 days

Features and description

  • Area: 2,716 sq ft
  • Fully tenanted
  • Rental income: £30,000 per annum
  • 8.57% gross yield
Don't miss out on this exceptional opportunity to acquire a versatile mixed-use investment property ideally positioned on Market Hill in Douglas. Spanning five floors, this property offers a compelling investment prospect.

The main feature of this property is a charming restaurant spread across four floors, providing a captivating dining experience. With ample space for patrons, the restaurant boasts three floors dedicated to dining, including a designated area for functions. Additionally, it includes a well-equipped kitchen and a basement for convenient storage purposes.

On the top floor, a generously sized apartment awaits, offering comfortable living quarters. The apartment comprises a spacious lounge seamlessly integrated with an open-plan kitchen, a bedroom, and a well-appointed bathroom.

Currently, both units are leased to Full Moon Thai, ensuring a steady income stream since June 2022. The lease extends for a duration of 10 years, with a 5-year break clause. Rental income stands at £30,000 per annum, subject to rent reviews on the 2nd, 4th, and 7th anniversaries, ensuring a minimum increase of 10%. Notably, the tenant is responsible for rates and building insurance, further enhancing the investment appeal of this property.

Tenure: Freehold

Property information from this agent

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About this agent

Chrystals Estate Agents - Douglas
Chrystals Estate Agents - Douglas
31 Victoria Street Douglas, Isle of Man IM1 2SE
020 8022 1282
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No matter what type of property you are looking for, we will endeavour to find the one that fulfils all your needs. After discussing your requirements, we will assist you every step of the way as you look for your new home. With hundreds of properties on our books at any one time, we have something for every budget and taste. Whether you're looking for a one-bedroom town flat, or a country mansion, you'll find it with Chrystals. With decades of experience, the Chrystals team has seen it all. With an intimate knowledge of the intricacies unique to the Manx property market, we pride ourselves on providing the Island with a first-class service. We have invested a great deal of time and effort in producing the Isle of Man's premier property website. Our dedicated team of online editors update the site daily so you'll hear about the latest properties for sale first.
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