34-36 Jubilee Road

• Modern high specification purpose-built food manufacturing facility of 51,973 sq. ft.
• Fully let to Knysna (N.I.) Limited (trading as Rich Sauces) at passing rent of £228,000 per annum, exclusive.
• Lease expiry 10 December 2035 (approx. 9.25 years unexpired term).
• Generous c.3.1 acre site providing ample yard space and car parking. Undeveloped space could facilitate any future extension works.
• Dual Access points to both front and rear of site.
• Jubilee Road Industrial estate is a well-established and popular commercial location in Newtownards.
• We are instructed to seek offers in excess of £2,680,000 exclusive which equates to a Net Initial Yield of 8.0% and an attractive capital value of £51.50 per sq. ft.

LOCATION
Newtownards is located 10 miles east of Belfast, at the most northern tip of Strangford Lough on the Ards Peninsula. It is a thriving market town and administrative centre, with major employers represented in the borough including Spirit Aerosystems, Denroy Group, Magellan Aerospace, Composite Dynamics, Lakeland Dairies and Thyssenkrupp Materials.
The town also benefits from a prosperous town centre retail offer, complimented by the popular Ards Shopping Centre. The nearby and well-established Castlebawn Retail Park on the edge of the town is home to a range of national retailers to include Tesco, Lidl, Matalan, Home Bargains, Burger King, Tim Hortons and Starbucks.


DESCRIPTION
The subject comprises a modern high specification purpose-built, food manufacturing facility extending to approx. 51,973 sq. ft. set on a generous self-contained site of approx. 3.1 acres.
The buildings have been constructed to a high specification to reflect the nature of its current food manufacturing use. The warehouse buildings are steel portal frame, finished with brick and block cavity walls which are externally clad to almost full height.
There are a number of roller shutter doors throughout the building with numerous pedestrian doorways for access and egress.
Internally the warehousing has been fitted out to a high standard to include concrete floors over-laid with either a non-slip finish or sealed with resin. Walls and ceilings are clad with smooth food grade panels along with LED lighting.
Solar panels have been fixed to parts of the roof.

There are two main elements to the site:

34 Jubilee Road
Provides both warehouse and office accommodation (ground & first floor) with a small high bay storage area (eaves height 9m).
In the main warehouse area, a mezzanine floor has been installed to facilitate food preparation and storage.

36 Jubilee Road
Also provides for generous warehouse and refurbished office space, with parts of the building being temperature controlled.
Majority of the warehouse accommodation is used as refrigerated space.
3no. dock levellers facilitate both outgoing and incoming deliveries.


SCHEDULE OF ACCOMMODATION
We are advised the property has the following GIA:

34 Jubilee Road

Warehouse (Grd Flr) - 1,109 sq m 11,935 sq ft
Warehouse (Mezz) - 941 sq m 10,127 sq ft
Offices (Grd Flr) - 195 sq m 2,097 sq ft
Offices (1st Flr) - 195 sq m 2,097 sq ft
Store (2nd Flr) - 128 sq m 1,381 sq ft
Total - 2,568 sq m 27,637 sq ft

36 Jubilee Road

Warehouse - 1,825 sq m 19,644 sq ft
Offices (Grd Flr) - 218 sq m 2,346 sq ft
Offices (1st Flr) - 218 sq m 2,346 sq ft
Total - 2,261 sq m 24,336 sq ft

Overall Total - 4,829 sq m 51,973 sq ft

Site size is approximately 3.1 acres with approximately 31% site coverage.

The entire property is occupied by Knysna (N.I.) Limited (trading as Rich Sauces) and is held by way of two separate concurrent leases. The current rent payable is £228,000 per annum, exclusive and lease expiry is 10 December 2035.

Copy leases are available from the Agent for review.

TENANT COVENANT
Knysna (N.I.) Limited (Company No. NI047142) is a Private Limited Company trading as Rich Sauces. Knysna is a subsidiary company of Obarcs (Holdings) Limited and ultimately Solina Foods Group.
With over 35 year's experience in the food manufacturing sector, Rich Sauces produces and supplies premium quality catering ingredients to the foodservice industry in the UK, Ireland and internationally.
Knysna (N.I.) Limited has a Creditsafe Risk Rating of Very Low Risk.

THE INDUSTRIAL MARKET
The Northern Ireland industrial property market is currently characterised by stock shortages, resilient occupier demand and upward pressure on both rents and capital values.
Requirements/demand in the market remains strong with good levels of interest for Design & Build options, given the lack of existing available space.
There has been a considerable increase in the number of requirements for large new build warehouses, across the storage and distribution, food production and manufacturing sectors. Coupled with the lack of supply, we believe another reason for this has largely been driven by Northern Ireland's unique position having access to both the UK and European markets.

RATEABLE VALUE
We have undertaken a search on the Land & Properties Services website which shows the following rateable value for the property for the year 2026 / 2027:
Total Net Annual Value - £165,000
Rate in the £ 2026 / 27 - £0.609
Estimated Rates Payable if applicable (per annum) - £100,865


TITLE
We understand that the property is held under a Long Leasehold title via 2 no. separate 999 year leases from 24 May 1993, at a peppercorn rent of £1.00 per annum.

PRICE
We are instructed to seek offers in excess of £2,680,000 exclusive which equates to a Net Initial Yield of 8.0% and an attractive capital value of £51.50 per sq. ft.

VAT
All prices are quoted exclusive of VAT, which may be payable.

ENERGY PERFORMANCE CERTIFICATE
We are advised the property has an EPC rating of C67. A copy EPC is available on request.

ANTI-MONEY LAUNDERING
In accordance with the current Anti-Money Laundering (AML) Regulations, the proposed purchaser will be required to satisfy the Vendor/Lessor and their agents regarding the source of funds used to complete the transaction. The proposed purchaser will also be required to provide certain identification documents. These will be confirmed to and requested from the successful purchaser at the point of agreeing Heads of Terms.

Directions

34-36 Jubilee Road, Newtownards, BT23 4YH