Retail
Contact Lambert Smith Hampton
+44 28 9032 7954
Size:
174.4 sq m (1,877 sq ft)
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The property occupies a prominent site on the corner of Victoria Road and Spencer Road, in the Waterside Area of Derry~Londonderry. The building is arranged over ground floor only with return frontage onto Victoria Road and extends to approximately 174.37 Sq. M (1,877 Sq. Ft.).
The building is of masonry construction which is rendered and painted externally and finished with feature red brick. Internally, the unit is finished with a typical Domino’s fit out to include a modern full height glazed shop front with a fully fitted commercial grade kitchen area. There are a range of appliances to include Pizza ovens, over head extraction, walk in freezer unit and staff cleaning facilities. The shop is finished with non-slip vinyl floor coverings within the food prep area, and a wood effect vinyl in the customer area, suspended ceilings with recessed fluorescent box lighting, air handling units and CCTV surveillance cameras.
TENANCY
The subject property is let to DP Realty Limited on a 16-year full repairing and insuring lease from 14th October 2023 expiring on 13th October 2039. The current passing rent is £28,000 per annum. The rent is reviewed every five years to open market rent with the next rent review due on 25th October 2028. There is
approximately 13.60 years unexpired term on the existing lease.
COVENANT
DP Realty Limited is a UK-based company incorporated in 1993, operating primarily as the property holding company for Domino's Pizza Group Plc. As at Q1 2026, DP Realty Limited have a Dunn & Bradstreet Rating of 2A3 with a Low-Moderate risk and a Tangible Net Worth of £6,586,000. As at 29th November 2024, DP Realty
Limited recorded a Turnover of £3,347,000 and a Net Profit of £522,000.
TITLE
We are advised that the prperty is held by way of Freehold / Long Leasehold title.
RATEABLE VALUE
We have undertaken a search on Land & Property Services and understand the property has the following rateable value for £2025/26:-
Net Annual Value - £10,600
Rate in £ 2025/26 - 0.694893
Rates Payable (if applicable) per annum - £7,366
ASKING PRICE
We are instructed to seek offers in the region of £415,000 exclusive which represents a Net Initial yield of 6.47% after standard purchaser's costs.
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