Price Offers around £599,950
Style Investment Property
EPC Rating C66
Status For sale

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NorthernProperty.com (South & East Belfast)

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Additional Information

Features

  • Excellent Investment Opportunity
  • Unique & Well Established Development Scheme
  • Bar & Off Sales, Retail Unit, & 4 Apartments
  • Bar & Off Sales Turnover £500-£525K Per Annum
  • Gross Annual Rental Income £31,200 Per Annum
  • Circa 9,352 Sqft
  • Rates Approximately For The Entire Scheme £14,293 Per Annum
  • EPC Rating - Bar & Off Sales C66 - Retail Unit E112 - Apt 1 C76 - Apt 2 C75 - Apt 3 C72 - Apt 4 C72

Additional Information

LOCATION
Kashmir Bar is prominently located within a densely populated area on the Springfield Road on the corner of Springfield Crescent and just off the Main Falls Road in West Belfast. Situated approximately 3 miles from Belfast City Centre, the Springfield Road is one of the main arterial routes leading in and out of the city. Housing within the area comprises a mix of private and social, whilst commercial occupiers along the Springfield Road predominately comprise mainly local occupiers.traders who provide a range of services and amenities to the local community.

DESCRIPTION
The Kashmir Bar comprises an extensive and attractive three storey property separated into a bar and off sales, a retail unit, 2 x two bedroom apartments, and 2 x one bedroom apartments. The bar and off sales is located on the ground floor with separate lounge/function room, offices, and storage on the first and second floor with toilet and kitchen facilities and a cold store. The ground floor retail unit is currently trading as a beauticians comprising kitchen and toilet facilities. All four apartments are located on the first and second floor; comprising 2 x two bedroom apartments and 2 x one bedroom apartments with double glazing throughout and gas heating.

SCHEDULE OF ACCOMMODATION
Bar & Off Sales (Ground, 1st & 2nd Floor) - 6,000Sqft / 557.42Sqm - Turnover £9-10k Per Week / £500-525k Per Annum
Retail Unit (Ground Floor) - 590Sqft / 54.81 Sqm - Rental Income of £500 Per Month - In a rolling lease, which commenced approximately 4.5 years ago
Flat 1 (1st Floor) - 871Sqft / 80.90Sqm - Rental Income of £550 Per Month - In a rolling lease, which commenced approximately 5 years ago
Flat 2 (1st Floor) - 510Sqft / 47.40Sqm - Rental Income of £500 Per Month - Vacant from April 2016, with view to obtain a new tenant
Flat 3 (2nd Floor) - 871Sqft / 80.90Sqm - Rental Income of £550 Per Month - In a rolling lease, which commenced approximately 5.5 years ago
Flat 4 (2nd Floor) - 510Sqft / 47.40Sqm - Rental Income of £500 Per Month - In lease from 24.04.15 - 23.04.16, with potential of a rolling lease
Total - 9,352 Sqft / 868.83 Sqm - Gross Rental Income Of £2,600 Per Month (£31,200 Per Annum)

RATES
Rates have been calculated to be approximately:
Bar & Off Sales - £8, 740 Per Annum
Retail Unit - £3,233 Per Annum
Flat 1 - £616 Per Annum
Flat 2 - £544 Per Annum
Flat 3 - £616 Per Annum
Flat 4 - £544 Per Annum

TUPE
The purchaser will be required to comply with the relevant legislation in respect of employees. All TUPE details can be required through the acting solicitor.
VAT
Please note that all prices listed are exclusive of VAT, however may be liable for VAT

GUIDE PRICE
We have been instructed to seek unconditional offers in the region of £599,950 (Five Hundred & Ninety Thousand, Nine Hundred & Fifty Pounds)

FURTHER INFORMATION
For access, further information and/or register your interest, please contact:
Tony Donnelly - 028 90 31 31 33 - tony@northernproperty.com OR
Carla Mullen - 028 90 31 31 33 - carla@northernproperty.com

Entrance

BAR & OFF SALES
6,000Sqft

Ground Floor

RETAIL UNIT
590Sqft

First Floor

APARTMENT 1
871Sqft
APARTMENT 2
510Sqft

Second Floor

APARTMENT 3
871Sqft
APARTMENT 4
510Sqft

Directions

Located on the Springfield Road on the corner of Springfield Crescent and just off the Falls Road in West Belfast

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Property Statistics

Total Views

(since advertised)

3,559

Listing Views

Date Views Unique Views Featured Published
26th Aug 1 1 No Yes
27th Aug 3 3 No Yes
28th Aug 3 3 No Yes
29th Aug 1 1 No Yes
30th Aug 4 4 No Yes
31st Aug 6 6 No Yes
1st Sep 1 1 No Yes
2nd Sep 5 5 No Yes
3rd Sep 1 1 No Yes
4th Sep 6 6 No Yes
5th Sep 14 14 No Yes
6th Sep 6 6 No Yes
7th Sep 6 6 No Yes
8th Sep 3 3 No Yes
9th Sep 6 6 No Yes
10th Sep 1 1 No Yes
11th Sep 3 3 No Yes
12th Sep 2 2 No Yes
13th Sep 3 3 No Yes
14th Sep 2 2 No Yes
15th Sep 3 3 No Yes
16th Sep 5 5 No Yes
17th Sep 0 0 No Yes
18th Sep 1 1 No Yes
19th Sep 1 1 No Yes
20th Sep 4 4 No Yes
21st Sep 3 3 No Yes
22nd Sep 5 5 No Yes
23rd Sep 9 9 No Yes
24th Sep 4 4 No Yes

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