This agent has listed the accuracy as: Exactly Right
Property Sales & Lettings NI are delighted to bring to the sales market this fantastic Investment Opportunity with Full Planning Permission ideally located on the ever popular Ormeau Road. The property has recently been passed with full planning for ground floor office space and two one bedroom apartments above.
Located on one of Belfast's most prominent and busiest arterial routes with easy access to Belfast City Centre and transport links, the Ormeau Road is quickly becoming one of the highly sought after South Belfast locations with a number of local businesses such as bistros, coffee houses, vibrant pubs, leisure facitilies and parks all within easy reach. The ground floor space would be ideal for an estate agency, solicitors, mortgage advisers or other such professional services company.
After obtaining the necessary consent; the space would also be perfect for hot food use. With the high footfall in the area and large student / young professional population; the space could be perfect for a sandwich bar, deli, takeaway, coffee shop or small diner.
N.B The property is being sold as a Cash Purchase only due to the condition of the property.
The property has full planning permission for change of use on the ground floor into office space and extending the ground floor space to the front to be inline with other properties on the street. Two one bedroom flats have been approved for the space on the first and second floor.
The property is in need of a full refurbishment. The ground floor unit was previously used as a taxi depot but fixtures and furniture have since been removed. Space above is accessible, however, the space is in need of extensive modernisation.
We estimate the cost of renovation of office space and both apartments to be in the region of £90,000. After completion to a high standard, we would anticipate both apartments to achieve a sales figure of around £79,950 each and ground floor office space of £74,950. A monthly rental value of £550 would be achieved per apartment and an annual income of £10,000pa for the commercial space. With an overall annual income of £23,200 this investment potential is not to be missed.
Ground Floor Net Internal Areas:
Sales area to front: 140sq ft
Office / Storage Space: 122sq ft
Kitchen: 73sq ft
Storage: 66sq ft
Total: 401sq ft
Disclaimer: N/B: All measurement taken at the widest points with a laser measuring tool. Please also note that Property Sales & Lettings NI Ltd have not tested any of the services or systems in this property. Purchasers should arrange/commission their own inspections if they deem this action is necessary. Declaration of personal interest: this property is being marketed on behalf of the director of Property Sales & Lettings NI.
This is an opportunity not to be missed and we highly recommend early viewings to avoid disappointment.
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