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4 Bow Street, Lisburn BT28 1BN

Offers over £325,000

Investment Property (1,412 sq. feet) For Sale

Offers over £325,000

Investment Property (1,412 sq. feet) For Sale

Price Offers over £325,000
Style Investment Property
Status For sale
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Additional Information

Additional Information

FOR SALE

RETAIL INVESTMENT OPPORTUNITY  

(BUSINESS UNAFFECTED)

4 BOW STREET

LISBURN

BT28 1BN

SUMMARY

Property investment opportunity situated in the heart of Lisburn City CentreLet to Hays Travel Ltd on a 10 year lease from 20 December 2019 at a current annual rent of £26,700pax rising to £29,000pax in December 2022.Hays Travel is the largest independent travel retailer in the UK operating for 40 years.

 

LOCATION

Lisburn is strategically located on the Belfast – Dublin corridor and accordingly is well served by major road (M1) and rail networks.Bow Street is recognised as the City’s prime retailing pitch; it is a pedestrianised street linking Market Square and Bow Street Mall.Nearby occupiers on Bow Street include Tesco Express, Boots, Specsavers, Holland & Barrett and B&M.

 

DESCRIPTION

The property comprises a mid terraced 2 storey building benefitting from a frontage to Bow Street of c19 ft (5.8m). The ground floor is used for sales purposes whilst the first floor provides ancillary storage and staff accommodation.

 

ACCOMMODATION

Ground Floor 1091 sq ft 101.35 sq m

First Floor 230 sq ft 21.37 sq m

 

TENANCY INFORMATION

The property is let in its entirety to Hays Travel Ltd on a 10 year lease from 20 December 2019 at £26,700pax rising to £29,000pax on 20 December 2022.The lease is subject to an upward rent review and tenant break

option at 20 December 2024.

Repair – Tenant responsible for internal repair. Landlord responsible for repairing, maintaining, and decorating the structure, foundations and exterior of the property.

A copy of the lease is available upon request.

 

RATING INFORMATION

We are advised by Land and Property Services of the following

information:-

NAV - £14,000. Rate poundage Lisburn & Castlereagh 2021/22 -

£0.505616. Rates payable - £7,078.62.

 

SALES DETAILS

Title – Freehold or long leasehold subject to a nominal ground rent.

Price – Offers over £325,000

At £325,000 the net initial yield is 7.95% with a reversionary yield of

8.64% in December 2022; assuming purchaser’s costs of 3.27%.

 

VAT

We are advised the property is not registered for VAT.

 

VIEWING

Strictly by appointment through Campbell Cairns.

Please contact:-

Jeremy Cairns - [email protected] or Mobile 07803 722 899

Emily Law - [email protected] or Mobile 07703 809 256

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Property Statistics

Total Views

(since advertised)

265

Listing Views

Date Views Unique Views Featured Published Bumped
28th Aug 0 0 No No No
29th Aug 0 0 No No No
30th Aug 0 0 No No No
31st Aug 0 0 No No No
1st Sep 0 0 No No No
2nd Sep 0 0 No No No
3rd Sep 0 0 No No No
4th Sep 0 0 No No No
5th Sep 0 0 No No No
6th Sep 0 0 No No No
7th Sep 0 0 No No No
8th Sep 64 64 No Yes No
9th Sep 42 42 No Yes No
10th Sep 13 13 No Yes No
11th Sep 7 7 No Yes No
12th Sep 9 9 No Yes No
13th Sep 11 11 No Yes No
14th Sep 24 24 No Yes No
15th Sep 15 15 No Yes No
16th Sep 12 12 No Yes No
17th Sep 6 6 No Yes No
18th Sep 5 5 No Yes No
19th Sep 10 10 No Yes No
20th Sep 9 9 No Yes No
21st Sep 4 4 No Yes No
22nd Sep 5 5 No Yes No
23rd Sep 7 7 No Yes No
24th Sep 10 10 No Yes No
25th Sep 4 4 No Yes No
26th Sep 8 8 No Yes No

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