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12-14 & 16-18 High Street, Carrickfergus, Co. Antrim, BT38 7AF

Investment Property (15,225 sqft) For Sale by Private Treaty
of

Price £795,000

Features

  • Fully let investment opportunity.
  • Extending to 16,588 sq ft across 2 no. properties.
  • Prominently located on High Street Carrickfergus.
  • Let to Medicare and The Original Factory Shop.
  • Providing an annual income of £75,570.

Location

The subject property is located in Carrickfergus which is home to a population of approximately 28,000. The town is located approximately 10 miles from Belfast and approximately 13 miles from Larne.

Carrickfergus benefits from excellent transport links via the recently extended A2/Shore Road dual carriageway which provides access to Belfast and the motorway network, as well as via the Northern Ireland Railway network and Translink Bus Service. The property is located on the town centre’s prime retailing pitch and is surrounded by a mix of retail and office users.

Full Description

The subject comprises 2 no. neighbouring mid terrace retail properties providing a mix of retail, office and storage accommodation over 3 no. storeys, both properties have the benefit of private service yards to the rear.

 

Combined the properties provide accommodation of approx. 15,225 sqft in total.

Tenancy
12-14 High Street

Is let to The Factory Shop Ltd t/a The Original Factory Shop from a term of 10 years from 02 October 2017; expiry 01 October 2027.

Open market rent reviews are 5 yearly.

There is a tenant break option on 01 October 2022.

The current passing rent is £19,000 per annum.

16-18 High Street

Is let to A.& F.A. Dundee Limited t/a Medicare Pharmacy for a term of 25 years from 01 September 2005; expiry 31 August 2030.

Open market rent reviews are 5 yearly.

There are no break options.

The current passing rent is £56,570 per annum.

Combined the assets provide an annual income of £75,570.
Asking Price
£795,000 (exclusive of VAT) reflecting an attractive 9% net initial yield assuming purchasers costs of 5.48%.
VAT
All prices, outgoings and rentals are exclusive of, but may be liable to VAT.
Stamp Duty
If applicable, will be the responsibility of the purchaser.
Customer Due Diligence
As a business carrying out estate agency work we are required to verify the identity of both the vendor and the purchaser as outlined in the following:

The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 - http://www.legislation.gov.uk/uksi/2017/692/made

Any information and documentation provided by you will be held for a period of five years from when you cease to have a contractual relationship with Lisney.  The information will be held in accordance with General Data Protection Regulation (GDPR) on our client file and will not be passed on to any other party, unless we are required to do so by law and regulation.

Viewing Details

By special appointment with the sole letting agent, Lisney.

Contact Details

Address: Montgomery House, 29-33 Montgomery Street, Belfast BT1 4NX
Telephone: +44-2890-501501 or you can also email us at property@lisney-belfast.com

Lisney for themselves and the Vendor/Lessor whose Agents they are give notice that:

1. These particulars do not constitute any part of an offer or 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 and none of the statements contained in these particulars as to this property are to be relied on as statements or representations of fact.

3. The particulars, various plans, photographs, dimensions, references to condition and permissions for use and occupation  are given in good faith and are believed to be correct but their accuracy is not guaranteed and any intending Purchasers or Tenants shall satisfy themselves by inspection or otherwise as to correctness of each of them. No omission, accidental error or misdescription shall be ground for a claim for compensation or for the rescission of the contract by either the Vendor/Lessor or the Purchaser/Tenant.

  4. Neither the Vendor/Lessor nor Lisney nor any person in their employment has any authority to make or give any representation or warranty whatever in relation to the property. 5. Prices are quoted exclusive of VAT (unless otherwise stated) and all negotiations are conducted on the basis that the Purchaser/Tenant shall be liable for any VAT arising on the transaction. PSRA No. 001848.

Please note we have not tested any apparatus, fixtures, fittings, or services. Interested parties must undertake their own investigation into the working order of these items. All measurements are approximate and photographs provided for guidance only.