Asking Price £300,000
1 Conway Square & 1-7 Frances Street
Newtownards, BT23 4DA
Multi Let Investment Opportunity
Investment Property
Marketed by Russell Property
+44 28 9181 2145
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- Multi Let Investment Opportunity
- Prime Location Fronting Conway Square & Frances Street
- Gross Income of £27,620 per annum
- Potential asset management opportunity
- Total floor area approx. 2,330 square feet / 216 square metres
- Possible Redevelopment Opportunity (Subject to Planning & Tenancies)
FOR SALE
1 CONWAY SQUARE & 1-7 FRANCES STREET
NEWTOWNARDS
BT23 4DA
Location/Description
Newtownards is one of Northern Ireland leading provincial towns, located 10 miles east of Belfast. The subject is prominently positioned front Conway Square which is the main retail area in Newtownards. It benefits from a high level of passing pedestrian footfall. Nearby occupiers include Specsavers, Cafe Nero, Post Office, Stewart Millar and Gordons Chemists.
The property consists of a substantial part three storey building let to a mixture of well-established local businesses, with frontages to Conway Square, Frances Street and Lower Mary Street.
Tenancy Details
The building comprises five tenants producing a total gross income of £27,939 per annum, all on varying lease agreements. Potential asset management opportunity to maximise potential. For further information please contact the office.
Subject to tenancies and planning the overall site area of circa 0.06 acres could be suitable for redevelopment.
Schedule of Accommodation
| UNIT | FLOOR AREA (sq ft) | TENANT T/A | NAV | EPC RATING |
| 1 Conway Asquare | GF - 630 + 1F & 2F stores | Photo Monkey | £14,600 | D96 |
| 1 Frances Street | N/A | Advertising Hoarding | £600 | N/A |
| 1-3 Frances Street | GF - 635 1F 350 | The House | £10,600 | F134 |
| 3a Frances Street | GF - 140 | Coles | £2,350 | E103 |
| 5 Frances Street | GF - 140 | Vacant | £2,350 | D84 |
| 7 Frances Street | GF - 130 | Midas Jewellers | £2,350 | D84 |
| 7b Frances Street | FF - 310 | Vacant | £1,600 | G265 |
Title
We are advised the property is held under freehold / long leasehold title.
VAT
We understand the property is not liable for VAT.
Proposal
We are seeking offers in the region of £300,000, subject to contract.
Contact
Paul Ritchie
Russell Property
2 Regent Street, Newtownards BT23 4LL
Tel: 028 9181 2145
Email: [email protected]
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