For Sale. Prominent Retail & Residential Investment 310/322 Upper Newtownards Road, Ballyhackamore, Belfast

Transcription

1 For Sale Prominent Retail & Residential Investment 310/322 Upper Newtownards Road, Ballyhackamore, Belfast commercial property consultants

2 Retail and residential investment, comprising 3 retail units and 4 recently completed duplex apartments. Prominent 3 storey building extending to c 8,715 sq ft Ground floor combined income of 95,750 pax LOCATION Belfast is Northern Irelands capital and largest city with a population of c. 700,000 and a further extensive catchment population within a 10 mile radius. The subject units are located in Ballyhackamore, which is a vibrant suburb approximately 3 miles from Belfast City Centre. The units occupy a highly prominent position on the Upper Newtownards Road and benefit from high volumes of both passing vehicular and pedestrian flow. Nearby occupiers include Pizza Express, M&S Simply Food, Tesco & Caffé Nero. DESCRIPTION The development comprises three prominent retail units trading as Camile, Café Mauds and Mortgage First. The apartments have recently been finished to a high standard which includes carpet floors, modern kitchen, bathroom & ensuites and an intercom system. The apartments are offered with vacant possession and have a potential gross income of c. 42,600 pa. GROUND FLOOR TENANCIES Unit Tenant Trading As Sq Ft Rent PA Term Lease Start Comments 1 Mortgage First Mortgage First , years 8/9/17 Tenant break year 7. NI Ltd 12 Months personal guarantee. 2 Café Mauds Café Mauds 1,430 33, years 4/8/17 Lease guaranteed Ballyhackamore by Café Mauds Ltd. Ltd 3 Camile Thai Camile 1,330 35, years 18/7/17 Tenant break year 5. Kitchen Ltd TOTAL 3,590 95,750 UPPER FLOOR ACCOMMODATION Unit Accommodation Sq. Ft. Comments Apartment 1 Duplex Apartments 1,490 3 Bedrooms Apartment 2 Duplex Apartments 1,105 2 Bedrooms Apartment 3 Duplex Apartments 1,295 3 Bedrooms Apartment 4 Duplex Apartments 1,235 3 Bedrooms

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8 VAT We are advised the subject property is VAT registered. Title We are advised that the property is held by way of a long leasehold tenure. EPC s We have been advised of the following Unit Current Energy Rating Retail Unit 1 Retail Unit 2 Retail Unit 3 Apartment 1 Apartment 2 Apartment 3 Apartment 4 B48 B47 C65 B85 B85 B85 B85 Proposal We are seeking offers in excess of 1,850,000 (One Million, Eight Hundred & Fifty Thousand Pounds Sterling) subject to contract and exclusive of VAT. An acquisition at this level, assuming a combined capital value of 640,000 for the apartments reflects a Net Initial Yield of c.7.50 % on the retail(after allowing for purchasers costs of 5.93%). TDK for themselves and for the Vendors or Lessors of the property whose agents they are give notice that; i) these particulars are given without responsibility of TDK or the Vendors or Lessors as a general outline only, for the guidance of prospective purchasers or tenants, and do not constitute the whole or any part of an offer or contract; ii) TDK cannot guarantee the accuracy of any description, dimensions, references to condition, necessary permissions for use and occupation and other details contained herein and any prospective purchasers or tenants should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the accuracy of each of them; iii) no employee of TDK has any authority to make or give any representation or warranty or enter into any contract whatsoever in relation to the property; iv) VAT may be payable on the purchase price and/or rent, all figures are quoted exclusive of VAT, intending purchasers or lessees must satisfy themselves as to the applicable VAT position, if necessary by taking appropriate professional advice; v) TDK will not be liable, in negligence or otherwise, for any loss arising from the use of these particulars.

9 FURTHER INFORMATION Strictly by prior appointment with agents: commercial property consultants Contact: Mark Thallon Tel: Contact: Connor James Tel: Contact: Jonathan Martin Tel: Contact: Martin McCloy Tel: TDK and Lambert Smith Hampton for themselves and for the Vendors or Lessors of the property whose agents they are give notice that; i) these particulars are given without responsibility of TDK and Lambert Smith Hampton or the Vendors or Lessors as a general outline only, for the guidance of prospective purchasers or tenants, and do not constitute the whole or any part of an offer or contract; ii) TDK and Lambert Smith Hampton cannot guarantee the accuracy of any description, dimensions, references to condition, necessary permissions for use and occupation and other details contained herein and any prospective purchasers or tenants should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the accuracy of each of them; iii) no employee of TDK and Lambert Smith Hampton has any authority to make or give any representation or warranty or enter into any contract whatsoever in relation to the property; iv) VAT may be payable on the purchase price and/or rent, all figures are quoted exclusive of VAT, intending purchasers or lessees must satisfy themselves as to the applicable VAT position, if necessary by taking appropriate professional advice; v) TDK and Lambert Smith Hampton will not be liable, in negligence or otherwise, for any loss arising from the use of these particulars.