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1-13 Jennings Park, Monkstown, Newtownabbey BT37 0NB

Offers over £470,000

Investment Property (4,060 sq. feet) For Sale

Offers over £470,000

Investment Property (4,060 sq. feet) For Sale

Price Offers over £470,000
Style Investment Property
EPC Rating E107
Status For sale

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Templeton Robinson Commercial

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Additional Information

Additional Information

EXCELLENT RETAIL PARADE INVESTMENT

LOCATION

The property is situated in Monkstown, a townland within the Newtownabbey urban area. It is approximately 9 miles north of Belfast close to the shores of Belfast Lough. The surrounding area is made up of medium and high density housing development. Neighbouring occupiers in the vicinity include: Winemark; Spar; Tesco Express; Mauds Ice Cream; and Ashers Bakery.

DESCRIPTION

The property comprises a parade of 7 shops with a range of users, to include Hot Food, Hair Salon, Vape Shop and Butchers. The units are generally all finished with solid floor overlaid with a mixture of tiling or laminate wood, plastered and painted walls, suspended ceilings with recessed and diffused strip lighting or spot lights, aluminium shop fronts and electric roller shutter doors. There is excellent off street car parking provided to the front of the block along with a rear service access road for deliveries.

ACCOMMODATION

Unit 1 - c.855 sq.ft. (79.4 sq.m.)
Unit 1a - c.466 sq.ft. (43.3 sq.m.)
Unit 3 - c.468 sq.ft. (43.5 sq.m.)
Unit 5 - c.460 sq.ft. (42.7 sq.m.)
Unit 7 - c.464 sq.ft. (43.1 sq.m.)
Unit 9 - c.439 sq.ft. (40.8 sq.m.)
Unit 11/13 - c.908 sq.ft. (84.4 sq.m.)

Total Accommodation c.4,060 sq.ft. (377.2 sq.m.)
Total Site Area c. 0.3 acre

LEASE DETAILS

The salient tenancy details are as follows:

1 Jennings Park - Bakery/Café - 3 year lease from 1st April 2018
1a Jennings Park - Barber - 2 years 6 month lease from 1st January 2018
3 Jennings Park - Vape Shop - 3 year lease from 14th August 2021
5 Jennings Park - Chip Shop - 5 year lease from 31st December 2018
7 Jennings Park - Butchers Shop - 5 year lease from 31st December 2018
9 Jennings Park - Hairdressers/Nail Bar/Beautician - 3 year lease from 26th October 2017
11/13 Jennings Park - Funeral Home - 3 year lease from 30th June 2017

Total current annual passing rent £51,540 per annum

Further rental details and leases are available to genuinely interested parties. There is provision for a service charge in the leases which is currently charged at c £25 per month per unit. Please note Templeton Robinson Commercial do not manage this block.

INVESTMENT DETAILS

This is an excellent opportunity to acquire a fully let retail parade with a good range of trading businesses. Also an asset management opportunity with some leases nearing expiry, with the potential to renew and re-gear. All units are rented to local covenants who have continued to trade post lockdown.

A sale at the asking price would give an attractive net initial yield of c.10.5%

Total current rent roll £51,540 per annum

TITLE Freehold

RATEABLE VALUES

Unit 1 - Shop - £7,750
Unit 1a - Shop - £4,750
Unit 3 - Shop - £4,400
Unit 5 - Shop - £4,450
Unit 7 - Shop - £4,450
Unit 9 - Hairdressers - £4,450
Unit 11/13 - Shop - £9,100

VAT

Rentals and Sale figures are all quoted exclusive of VAT, which may be chargeable.

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Property Statistics

Total Views

(since advertised)

589

Listing Views

Date Views Unique Views Featured Published Bumped
30th Sep 96 96 No Yes No
1st Oct 50 50 No Yes No
2nd Oct 38 38 No Yes No
3rd Oct 18 18 No Yes No
4th Oct 22 22 No Yes No
5th Oct 22 22 No Yes No
6th Oct 22 22 No Yes No
7th Oct 17 17 No Yes No
8th Oct 14 14 No Yes No
9th Oct 20 20 No Yes No
10th Oct 9 9 No Yes No
11th Oct 13 13 No Yes No
12th Oct 29 29 No Yes No
13th Oct 34 34 No Yes No
14th Oct 8 8 No Yes No
15th Oct 7 7 No Yes No
16th Oct 6 6 No Yes No
17th Oct 12 12 No Yes No
18th Oct 10 10 No Yes No
19th Oct 35 35 No Yes No
20th Oct 10 10 No Yes No
21st Oct 7 7 No Yes No
22nd Oct 11 11 No Yes No
23rd Oct 13 13 No Yes No
24th Oct 9 9 No Yes No
25th Oct 21 21 No Yes No
26th Oct 4 4 No Yes No
27th Oct 18 18 No Yes No
28th Oct 6 6 No Yes No
29th Oct 8 8 No Yes No

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