This agent has listed the accuracy as: Quite Near
- BUSINESS UNAFFECTED
- Mixed use Investment Opportunity comprising ground floor retail unit and 2 no. apartments on the upper floors
- Located fronting directly onto the Falls Road close to The Royal Victoria Hospital
- Current income of £23,000 per annum
- Offers are invited in the region of £165,000 reflecting a Net Initial Yield of 13% after allowing normal purchaser costs
The subject comprises a three storey mid terrace property of traditional construction with retail accommodation on the ground floor and 1 no. 2-bed apartment.
The Retail Unit
A modern ground floor retail unit of c. 550 sq ft (52 sq m). The unit is let to Subway Realty Limited t/a Subway on a 20 year lease at a rent of £12,500 per annum. Please note the liability of the tenant arising on default of payment or rent, service charge or insurance rent will be limited to twelve months.
121 Falls Road, Belfast
Demise: Ground floor retail unit
Tenant: Subway Realty Limited
Term: 20 years from 1st November 2006
Rent: £12,500 per annum
The first and second floors comprise a 2-bedroom and a 1-bedroom apartment extending to c. 614 sq ft and 306 sq ft. both apartments are currently let producing an annual income of £10,500. The apartments are accessed via a communal entrance from the Falls Road.
Internally the apartments comprise open plan kitchen, living area, bathroom with shower and bedroom(s).
The apartments are finished to include;
• Plastered / painted walls and ceilings
• Gas heating, Upvc double glazing
• Carpets and vinyl flooring with modern appliances
121a Falls Road – First Floor
Demise: Two bedroom apartment
Tenant: 1no. private tenant
Term: Expiring 10/02/2017
Rent: £450 per month
121a Falls Road – Second Floor
Demise: One bedroom apartment
Tenant: 1no. private tenant
Term: Expiring 31/12/2016
Rent: £425 per month
Offers are invited in the region of £165,000 exclusive. A purchase at this level would reflect a net initial yield of 13% after allowing for normal purchasers costs.
HMRC have confirmed that they have not been notified of any option to tax in respect of this property.
RATES / NET ANNUAL VALUE
We are advised by the Valuation and Lands Agency that the current NAV /Capital Values are;
121 Falls Road, Belfast: NAV £6,450
Rate in the £ 2016/2017: £0.582601
Estimated Rates Payable per annum: £3,757.78
121a Falls Road, Belfast First Floor: Capital Value £55,000
Rate in the £2016/2017: £0.007251
Estimated Rates Payable per annum: £398.81
121a Falls Road, Belfast Second Floor: Capital Value £40,000
Rates in the £2016/2017: £0.007251
Estimated Rates Payable per annum: £290.04
Title and Contract are available for inspection by appointment only via;
A&L Goodbody, 6th Floor, 42-46 Fountain Street, Belfast, BT1 5EF
Contact: Tomas McLaughlin
Tel: 028 90 314 466
For further information or to arrange an inspection of the property, please contact:
Andrew Lennon or William Knox
Tel: 028 90 241 500
Email: firstname.lastname@example.org or email@example.com
(in last 30 days)
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