- Fully occupied and producing a gross annual income of £47,500
- Prominent roadside location
- Desirable lot size
- Attractive retail investment opportunity
The subject property occupies a prominent corner site at the junction of Castlereagh Road and Loopland Drive, approximately 2 miles south east of Belfast City centre and situated opposite the recently constructed Tesco food store.
The property fronts Castlreagh Road, one of the primary arterial routes into the City centre and is located in close proximity to the A55, Outer Ring road, providing ease of access to the wider motorway network. The immediate area is characterised by a mix of commercial uses along with medium to high density housing.
The property comprises a modern edge of town retail development comprising 5 no. single storey retail/hot food units. The property totals approximately 4,200 sq. ft., is fully occupied, and is currently producing an annual income of £47,500 per annum. The unexpired lease terms range from approximately 2 years (September 2017) to over 9 years (September 2024).
The property offers an attractive investment opportunity where there is increased localised demand and diminishing product available in the market place.
Please see attached tenancy schedule.
We have been advised that the property is held freehold.
Offers in the region of £500,000 excl. are invited for the property. A purchase at this level would reflect a Net Initial Yield of 8.98% allowing for purchasers costs of 5.8%.
The property has the following energy ratings:-
Retail Unit 1 B45
Retail Unit 2 C59
Retail Unit 3 B49
Retail Unit 4 & 5 C55
All prices and outgoings stated are exclusive of but may be subject to VAT.
By special appointment with the sole letting agent, Lisney.
|Area||Sq. M.||Sq. Ft.|
|Ground Floor Retail Unit 1||65.05||700|
|Ground Floor Retail Unit 2||65.05||700|
|Ground Floor Retail Unit 3||65.05||700|
|Ground Floor Retail Unit 4 & 5||195.09||2,100|
|Total Net Internal Area||390.24||4,200|
Address: Montgomery House, 29-33 Montgomery Street, Belfast BT1 4NX
Telephone: +44-2890-501501 or you can also email us at firstname.lastname@example.org
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.