Location Map

Here is the location of the property in question:

6 Market Street, Portadown

Price: £350,000

For Sale by Private Treaty

PDF Brochure

Features

Currently producing £37,500 p.a.
Anticipated return of 9% (allowing for purchasers costs of 5.75%) at a price of £350,000.

Situated in the main retail pitch adjacent to may well known retailers including Carphone Warehouse, Evans, Progressive Building Society, Clarkes, Thorntons, Menarys, Dorothy Perkins and Cancer Research NI.

Full Description

Location

Portadown is located approximately 20 miles from Belfast and has a population of 22,000 (2001 census) with a catchment in excess of 235,000. The town benefits from being strategically located close to the province's motorway network.

The subject property is located in the heart of Portadown town centre and is within walking distance of the town's popular High Street Mall and The Meadows Shopping Centre.

Occupiers in the immediate vicinity include Carphone Warehouse, Evans, Progressive Building Society, Clarks, Thorntons, Menarys, Dorothy Perkins and Cancer Research NI.

Description

The property comprises a 3 storey, mid terrace building with ground floor retail and 2 upper floors (currently not accessible). The property is fully let to Poundstretcher Properties Ltd.

Accommodation

	Sq.ft.	Sq.m.
Ground Floor Sales	3,740	347.6
Ground Floor Office	100	9.3
Ground Floor Store 1	594	55.2
Ground Floor Store 2	555	51.6

Ground Floor Store 3	200	18.6
Ground Floor Store 4	129	11.9
WC

NB Upper Floors not accessible currently

Title

We understand the premises to be held by long leasehold subject to nominal ground rent.

The property is let to Pundstretcher Properties Ltd for 25 years from 1/11/89 (expiring on 30/9/2014) at a rent of £37,500 p.a. Lease on a FRI basis, subject to a condition report.

Price

Offers invited in excess of £350,000

Rates

We have been advised by the Rates Authority of the following:

NAV:	£34,900
Rate in the £ for 2011/12:	0.5574
Rates payable:	£19,453

NB

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

Viewing Details

By appointment with the sole selling agent, Lisney.

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.