18/22 Hill Street, Belfast BT1 2LA

Investment Property (5,660 sq. feet) For Sale
Offers over £825,000

Contact the Agent

Hughes Commercial

Hughes Commercial

028 9091 8257 Show Phone Number Call The Agent
Email The Agent

Email the Agent

Please check you have entered all details correctly:

Thanks

We've sent your enquiry to Hughes Commercial.

You can also reach them on the number listed above.

Key Information

Price Offers over £825,000
Style Investment Property
Status For sale

Location

This agent has listed the accuracy as: Exactly Right

Additional Information

 LOCATION

Since it’s opening 2006, the Black Box has become the home for live music, theatre, comedy and literature.           Occupying a high profile location on Hill Street in the heart of Cathedral Quarter it has emerged as the pre-eminent arts venue in the city. Cathedral Quarter, situated on the north side of city centre continues to develop as the cultural centre of Belfast with it’s mix of entertainment venues, galleries, bars, restaurants and hotels. A £250m expansion of Ulster University’s campus at York Street will provide a huge economic benefit to Cathedral Quarter with the influx of a further 10,000 students in 2018 and several proposed student housing schemes within the locality.
DESCRIPTION
 The Black Box forms part of a mixed use development constructed in 2006, incorporating a
 two storey listed building fronting Hill Street and a connecting new 5 storey office building to the rear.
 The tenant’s demise includes the ground floor of the listed building and the ground floor of the              modern building to rear, totalling approximately 5560 sq.ft. (GIA). The upper floors of the modern          section were sold to a number of owner occupiers when first developed.
THE TENANT
The tenant, Black Box Trust ltd is a private limited company by guarantee. It was incorporated in 2006 and has been operating at 18/22 Hill since that date. The Black Box has become the pre-eminent arts venue in the city, providing a diverse cultural offering and a number of community projects. The tenant also receives additional revenue streams through a number public sector partners.
The tenant occupies the building under a 10 year lease from May 2006 subject to a yearly rent of £70,000 pa plus VAT and has expressed a desire to remain as tenant subject to a new lease. The tenant is responsible for internal repairs and the landlord recovers the usual estate management items such as external repairs, upkeep of common areas etc through a service charge.
THE OPPORTUNITY
The Cathedral Quarter has witnessed significant development in recent years and this will continue with
 a further two hotels planned in Donegall street and Waring street respectively. The £250m Ulster              University expansion at York Street will see an additional 10,000 students in the area. As a result of this major influx, there are now active requirements from UK multiple leisure/restaurant operators seeking space and as such an increase in rental levels is anticipated over the next couple of years.
Occupying a prime location on Hill Street, this represents a very rare opportunity to acquire a unique leisure investment with excellent potential for growth over the coming years. 
PRICE
Offer in excess of £825,000 plus VAT. A purchase at this price will show a return of 8.1% after costs of 4.8%.

Share this property with your friends

Good Work!

Your email is winging its way to

Wanna be a little social too?

Total Views

(in last 30 days)

146

Listing Views

Date Views Unique Views Featured Published
31st Mar 6 6 No Yes
1st Apr 3 3 No Yes
2nd Apr 8 8 No Yes
3rd Apr 5 5 No Yes
4th Apr 4 4 No Yes
5th Apr 1 1 No Yes
6th Apr 16 16 No Yes
7th Apr 2 2 No Yes
8th Apr 1 1 No Yes
9th Apr 8 8 No Yes
10th Apr 5 5 No Yes
11th Apr 8 8 No Yes
12th Apr 7 7 No Yes
13th Apr 3 3 No Yes
14th Apr 6 6 No Yes
15th Apr 0 0 No Yes
16th Apr 2 2 No Yes
17th Apr 4 4 No Yes
18th Apr 4 4 No Yes
19th Apr 3 3 No Yes
20th Apr 3 3 No Yes
21st Apr 4 4 No Yes
22nd Apr 2 2 No Yes
23rd Apr 5 5 No Yes
24th Apr 6 6 No Yes
25th Apr 4 4 No Yes
26th Apr 5 5 No Yes
27th Apr 10 10 No Yes
28th Apr 6 6 No Yes
29th Apr 5 5 No Yes

Want to increase your views?

Why not Increase Your Views and get twice the exposure as a regular listing!

Increase Your Views

Spotted a Problem? Even the best agents make mistakes, help us to maintain accurate property information on our listings.  Report a problem »

Back to top