90 Botanic Avenue, Belfast, BT7 1JR. For Sale Prominent Retail & Residential Investment Opportunity

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1 For Sale Prominent Retail & Residential Investment Opportunity

2 Retail Unit Apartment 1 Investment summary Purpose-built retail and residential investment opportunity comprising one retail unit and two apartments. Prominent three storey building extending to approximately 3,725 sq ft. Fully let currently producing a gross rental income of 55,900 pa and a net rental income (after deducting non recoverable residential insurance and rates) of 53,740 pa. We are seeking offers in the region of 695,000 (Six Hundred and Ninety Five Thousand Pounds Sterling) subject to contract and exclusive of VAT. An acquisition at this level, assuming a capital value of 120,000 per apartment, reflects a net initial yield of c. 8.41% on the retail, (after allowing for purchaser costs of 4.55%). Based on the total net income of 53,740 pa, the overall net initial yield is 7.34% (after allowing for purchasers costs of 5.33%). Price reflects a capital value rate of approximately 187 per square foot.

3 Location Northern Ireland s population of approximately 1.8 million people is one of Europe s youngest and fastest growing. Over 40% of the population are age 29 and under and almost 60% are under the age of 40. Belfast has a resident population of approx. 281,000 persons which represents 15.5% of Northern Ireland s total population. The wider Belfast metropolitan area has a population extending to approx. 650,000 of the Northern Ireland population (approx 36%). Over 60% of Belfast s total population are of working age. As the largest commercial centre in Northern Ireland, Belfast has developed into one of Ireland s premier business cities and has the largest employed population in the region. In the last few years Belfast has been extremely successful in attracting Foreign Direct Investment driven primarily by a highly skilled and educated employment base, competitive operating costs and advanced telecoms infrastructure. Situation The subject property occupies a prominent position on Botanic Avenue, approximately 1.2 miles from Belfast City Centre. Queen s University and Belfast City Hospital are a c.5 minute walk. The immediate area is characterised by a large amount of young professional and student accommodation including a new purpose built student complex providing an additional 156 studios. Botanic Train Station is c. 3 minute walk. For Indicative Purposes Only Other occupiers in the immediate area include STA Travel, Boojum, Russells and Madisons Hotel. Description The ground and first floors comprise a modern retail unit providing a sales area along with staff and customer WCs. The unit is fitted out to an excellent standard, in a typical Starbucks format. Belfast City Hospital The apartments are finished to a high standard including part tiled, part wooden floors, modern kitchen and bathroom suites, intercom systems and balconies. Queen s University For Indicative Purposes Only

4 Schedule of Accommodation Demise Sq M Sq Ft Ground Floor Retail ,065 First Floor Retail ,000 Second Floor Apartment Third Floor Apartment Total Net Internal Area 346 3,725 Note: Full floor plans in CAD & PDF are available upon request. We have relied upon floor areas provided by the vendor. First Floor Retail First Floor Retail Ground Floor Retail

5 Tenancies The property is let to three separate tenants. Copy leases are available on request. Description Tenant Start Date End Date Next Rent Review Current Rent PA Net Rent (after deducting residential rates and insurance) Comment Ground & First Floor Retail Ritcin Ltd t/a Starbucks Guaranteed by Ritea Ltd 01/02/ /01/ /02/ ,000 40,000 Tenant responsible for rates and insurance. Apartment 1 Private rental 02/08/ /08/2014 (holding over) N/A 7,800 6,594 Landlord responsible for rates and insurance. Apartment 2 Private rental 01/07/ /06/2017 N/A 8,100 7,146 Landlord responsible for rates and insurance. Assumed apartment insurance costs at 120 per annum, per apartment. 55,900 53,740 Covenant The Guarantor, Ritea Ltd (Reg No: ) has an Experian Credit Limit of 2,000,000 (euro) and is deemed to be very low risk company. Details on the residential tenants can be provided upon request. Tenure The property is held Long Leasehold. Energy Performance Certificate The retail unit benefits from an EPC rating of D79. Apartment 1 benefits from an EPC rating of C75. Apartment 2 benefits from an EPC rating of C74. All Energy Performance Certificates is available upon request.

6 VAT We understand the property has been elected for VAT and it is anticipated that the sale will be structured as a Transfer of a Going Concern (TOGC). Proposal We are seeking offers in the region of 695,000 (Six Hundred and Ninety Five Thousand Pounds Sterling) subject to contract and exclusive of VAT. An acquisition at this level, assuming a capital value of 120,000 per apartment, reflects a net initial yield of c. 8.41% on the retail, (after allowing for purchaser costs of 4.55%). Based on the total net income of 53,740 pa, the overall net initial yield is 7.34% (after allowing for purchasers costs of 5.33%). Contacts For further information or to arrange a viewing, please contact: Stuart Draffin Martin McCloy sdraffin@lsh.ie mmccloy@lsh.ie Lambert Smith Hampton Clarence House 4/10 May Street Belfast BT1 4NJ Joint Agent Mark Maguire mark.maguire@btconnect.com Mark Maguire Estate Agents Lynden House Lisburn Road Belfast BT9 6AH Subject to Contract and Exclusive of VAT Lambert Smith Hampton January 2017 Disclaimer: Lambert Smith Hampton Group Limited and its subsidiaries and their joint agents if any ( LSH ) for themselves and for the seller or landlord of the property whose agents they are give notice that: (i) These particulars are given and any statement about the property is made without responsibility on the part of LSH or the seller or landlord and do not constitute the whole or any part of an offer or contract. (ii) Any description, dimension, distance or area given or any reference made to condition, working order or availability of services or facilities, fixtures or fittings, any guarantee or warrantee or statutory or any other permission, approval or reference to suitability for use or occupation, photograph, plan, drawing, aspect or financial or investment information or tenancy and title details or any other information set out in these particulars or otherwise provided shall not be relied on as statements or representations of fact or at all and any prospective buyer or tenant must satisfy themselves by inspection or otherwise as to the accuracy of all information or suitability of the property. (iii) No employee of LSH has any authority to make or give any representation or warranty arising from these particulars or otherwise or enter into any contract whatsoever in relation to the property in respect of any prospective purchase or letting including in respect of any re-sale potential or value or at all. (iv) Price or rent may be subject to VAT and any prospective buyer or tenant must satisfy themselves concerning the correct VAT position. (v) Except in respect of death or personal injury caused by the negligence of LSH or its employees or agents, LSH will not be liable, whether in negligence or otherwise howsoever, for any loss arising from the use of these particulars or any information provided in respect of the property save to the extent that any statement or information has been made or given fraudulently by LSH. (vi) In the case of new development or refurbishment prospective buyers or tenants should not rely on any artists impressions or architects drawings or specification or scope of works or amenities, infrastructure or services or information concerning views, character or appearance and timing concerning availability or occupation and prospective buyers or tenants must take legal advice to ensure that any expectations they may have are provided for direct with the seller or landlord and LSH shall have no liability whatsoever concerning any variation or discrepancy in connection with such matters.