Covid-19 House Viewing Guidelines The process for viewing properties in Northern Ireland has changed following Covid-19. Please read the guidelines before arranging a viewing

429 Ormeau Road, Belfast BT7 3GQ

Price £550,000

Commercial Property (2,960.42 sq. feet) For Sale

Price £550,000

Commercial Property (2,960.42 sq. feet) For Sale

Price £550,000
Style Commercial Property
Status For sale
  • Additional Information
  • Share This Property
  • Personal Notes
  • Similar Properties

Additional Information

Features

  • Occupying an excellent position in this popular south Belfast suburb.
  • Ground floor let to Oasis Retail Services Limited at ?37,400 pax.
  • Vacant upper floors suitable for refurbishment for a variety of uses, subject to planning.
  • Seeking offers in excess of ?550,000 exclusive, subject to contract.

Additional Information

Location
The subject property occupies a prominent position on the Ormeau Road, a popular suburb approximately 1.5 miles from Belfast City Centre. This main arterial route serving the south of the city benefits from high levels of vehicular traffic and pedestrian footfall, whilst the surrounding locality provides a vibrant mix of retailers, restaurants, bars, cafes and high density housing.

Nearby occupiers include The Errigle Inn, Ladbrokes, Corries Butchers, Winemark, Mace, The Pavilion Bar and District Coffee.

Description
The property comprises a three storey building of traditional red brick construction with a pitched slate roof and a number of extensions at ground floor level to the side and rear.

The ground floor is fitted out and occupied as a gaming centre with ancillary office, kitchen, WCs and storage accommodation, whilst the upper floors, benefitting from separate access and in need of modernisation, would be suitable for a variety of uses, subject to planning.

Accommodation
The property provides the following approximate internal areas:
GF (Oasis): 1,918.47 sqft (178.23 sqm)
1F (Vacant): 626.68 sqft (58.23 sqm)
2F (Vacant): 415.17 sqft (38.57 sqm)
Total: 2,960.42 sqft (275.03 sqm)

Tenancy
The Ground Floor is let to Oasis Retail Services Limited from 1st May 1999 on a 25 year effective full repairing & insuring lease (subject to a condition report), expiring on 30th April 2024 at a passing rent of ?37,400 pax.

Oasis are the leading operator of gaming centres in Northern Ireland with 13 locations and also provide pay-to-play machinery and servicing to a variety of sectors. For the 15 month period ending 31st March 2020, they made a pre-tax profit of ?2,435,005 on a turnover of ?11,032,796.

Title
Assumed Freehold or Long Leasehold.

NAV
We are advised by Land & Property Services that the NAVs are as follows:
Ground Floor: ?23,700 - Rates payable by the Tenant for 2021/22 of approximately ?12,873.

1st Floor: ?1,550 & ?2,200 - Rates payable for 2021/22 of approximately ?598 (after vacant rates relief).

Price
Seeking offers in excess of ?550,000 exclusive, subject to contract.

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

Share this property

Email this property to your friends

Please check you have entered all details correctly:

Good Work!

Your email is winging its way to

Personal Notes

Add a personal note about this property

Please or sign up to add notes to this property.
About Personal Notes

You can add your own personal notes about this property.

You can view all your notes by going to My PropertyPal.com.

You can remove this note at any time.

Notes can only be seen by you and any pals you have added, they cannot be viewed by the vendor or estate agent.

Similar Properties

Property Statistics

Total Views

(since advertised)

403

Listing Views

Date Views Unique Views Featured Published Bumped
24th Aug 0 0 No No No
25th Aug 0 0 No No No
26th Aug 0 0 No No No
27th Aug 0 0 No No No
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 0 0 No No No
9th Sep 0 0 No No No
10th Sep 0 0 No No No
11th Sep 0 0 No No No
12th Sep 0 0 No No No
13th Sep 0 0 No No No
14th Sep 0 0 No No No
15th Sep 160 160 No Yes No
16th Sep 75 75 No Yes No
17th Sep 47 47 No Yes No
18th Sep 27 27 No Yes No
19th Sep 22 22 No Yes No
20th Sep 27 27 No Yes No
21st Sep 29 29 No Yes No
22nd Sep 16 16 No Yes No

Are you selling this property?

Promote your listing on PropertyPal to get more exposure and put your property in front of the right people.

Not your property? Click here to search for your property.

Option 2: Premier Listing

Get an automatic boost to the top of the search results every week for the next 4 weeks.

Additionally, your property appears as enhanced with extra photos and a description for the lifetime of your listing.

£49

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