For Sale Prime City Centre Retail Investment Let to Argento Jewellers 27 / 29 Bow Street, Lisburn, Co. Antrim BT28 1BJ
27 / 29 Bow Street, Lisburn Sales Information Memorandum Location The City of Lisburn is located approximately 10 miles south west of Belfast and is easily accessible off the M1 Motorway. The city has the largest population in Northern Ireland after Belfast, which is estimated to be in the region of 110,000 people. Lisburn is regarded as being one of the strongest retailing locations in Northern Ireland and is particularly renowned for its popular pedestrianized City Centre and abundance of available public car parking. Bow Street represents the City Centre s prime high street retail pitch with occupiers including Boots the Chemist, Eason s, River Island, Bon Marche, B&M Bargains, Green s Supermarket, Ulster Bank, Nationwide etc. Notably there has been significant rejuvenation of Lisburn s City Centre High Street with lettings to Hallmark Cards, Bob & Bert s, Tesco Express, Caffe Nero and Boots Opticians all within the last approximately 24 months. The subject building occupies an excellent position on the pedestrianized High Street pitch benefiting from high levels of passing footfall, access to car parking and close proximity to Bow Street Mall Shopping Centre.
27 / 29 Bow Street, Lisburn Sales Information Memorandum Description Impressive line-up of adjacencies to include Tesco Express, Boots, Superdrug, Bob & Berts, Iceland, Hallmark Cards, Thornton s, Waterstones, River Island, B&M Bargains and O2. Excellent rental growth potential The three storey property benefits from excellent frontage onto Bow Street allowing for a good level of natural light. Internally, the property is finished to an extremely high standard typical of that of an Argento Jewellery store. Prominent 3 storey retail investment property benefiting from over 24ft of retail frontage Let to Argento Contemporary Jewellery Limited T/a Argento Superbly fitted out to a high specification Absolute prime position fronting onto Bow Street in Lisburn at the heart of the town s retail core. Internal Area extending to approx. 223 sq m / 2,405 sq ft Property benefited from a 51.29% NAV reduction under the recent revaluation of business rates
Accommodation The property provides the following approximate net internal areas: Floor Sq. m. Sq. ft. Ground Floor 80.27 864 First Floor 84.07 905 Second Floor 59.17 636 Total 223.51 2,405 Title We have been advised that the property is held by way of a freehold or long leasehold tenure. Tenant Covenant Information Lease Details The property is let upon the following terms: Tenant: Argento Contemporary Jewellery Ltd Term: 10 years from 21/10/13 (Expiring 2023) Rent review: Upward Only Rent Review 20/10/18 Rent: Oct 2015 Oct 2016 17,000 pax Oct 2016 Oct 2017 21,000 pax Oct 2017 Oct 2018 25,000 pax Repairs: Effectively a full repairing and insuring lease subject to a schedule of condition Tenant Break Clause: 21/10/18 subject to minimum of 6 months prior notification being given to the landlord Argento Jewellery is one of Ireland s largest independent contemporary jewellery retailers with over 46 stores in Ireland, Scotland and England stocking brands such as Pandora, Nomination and Thomas Sabo. For the financial year ending 30 June 2014, Argento Contemporary Jewellery Ltd reported sales turnover in excess of 24.2M, a pre-tax profit in excess of 1.6M and a net worth in excess of 6.6M The company has a Credit safe credit rating of 59 (out of 100) with an international score rating of B meaning its Low Risk.
Price EPC Offers invited. Value Added Tax Viewing / Further Information We have been advised that the property is not VAT registered and as Viewing such VAT of the will property not be charged is strictly via on appointment the purchase only. price. Should you require any Viewing / Further Information Viewing of the property is strictly via appointment only. Should you require any further information, please contact:- Liam McAuley GVA NI LTD T: 028 90316121 E: liam.mcauley@gvani.co.uk GVA NI Ltd is a subsidiary company of GVA Donal O Buachalla and a member of GVA Worldwide for themselves, for any joint agents and for the vendors or lessors of this property whose agents they are, give notice that: (i) the particulars are set out as a general outline only for the guidance of intending purchases or lessors and do not constitute, nor constitute part of, an offer or contract. (ii) all descriptions, dimensions, references to condition and necessary permission for use and occupation, and other details, are given in good faith and are believed to be correct but any intending purchasers or tenants should not rely on them as statements or representations of fact but satisfy themselves by inspection or otherwise as to the correctness of each of them. (iii) no person in the employment of GVA NI Limited or any joint agents has any authority to make or give any representation or warranty whatever in relation to this property. (iv) all rentals and prices are quoted exclusive of VAT Reproduced by courtesy of Land Y Property Services/OSNI HMSO Crown Copyright reserved. Licence No 2281. If applicable, with consent of Chas E Goad, Cartographers, Old Hatfield, Geographers A-Z Map Co Ltd and/or The Automobile Association. For identification purposes only.