27-29 High Street, Newtownards BT23 7HS

Features

• Thriving market town.
• Let to Savers Health and Beauty Ltd at a rent of £35,000 per annum exclusive.
• Modern building constructed in 2004.
• Asking Price of £450,000 exclusive, subject to contract.

Additional Information

Location
Newtownards is a thriving market town with a catchment population in excess of 100,000 people and is located approximately 13 miles east of Belfast.

Major retailers close by include Peacocks, Edinburgh Woollen Mill, Specsavers, Argento, Caffe Nero, Vogue, Wardens and Menarys.

The town boasts an attractive mix of national and local retailers.

Description
The unit was constructed in 2004 and is arranged on ground and one upper floor with excellent rear vehicular servicing.

Ground Floor: Approx. 1,715 sqft (159 sqm)
First Floor: Approx. 1.350 sqft (125 sqm)
Total: 3,065 sqft (284 sqm)

Tenure and Tenancy
The property is Freehold and let to Savers Health and Beauty Ltd on a 5 year lease from 01.10.2019 on effective full repairing and insuring terms at a rent of £35,000 per annum exclusive.

Tenant Covenant
Savers Health and Beauty Ltd have a D&B rating of 2A1 indicating minimal risk. For the year ending 28.12.2019 they had a turnover of approximately £569.70 million with a pre-tax profit of approximately £50.57 million.

Price
£450,000 exclusive, subject to contract.

A purchase at this level reflects a net initial yield of c. 7.45% after standard purchase costs of c. 4.47%.

VAT
Please note all prices, rentals and outgoings are quoted net of VAT which may be chargeable.