Price Offers over £2,750,000
Style Commercial / Industrial
EPC Rating C54
Status For sale

Contact the Agent

Riddell McKibbin Limited

  • Additional Information
  • Share This Property
  • Personal Notes

Additional Information

Features

  • A Freehold mixed use investment opportunity centrally located within Mallusk
  • The overall site extends to approximately 4.15 acres (1.68 hectares)
  • Built accommodation extends to approximately 62,902 sq.ft
  • Currently producing an annual gross rent of £207,000.05 from 4 tenants
  • Various asset management opportunities
  • For Sale as one lot seeking offers in excess of £2,750,000 exclusive which reflects a NIY of 7.07% assuming purchasers costs of 6.42%.

Additional Information

DESCRIPTION


The property is a freehold mixed use investment opportunity and is comprised of 5 buildings sub-divided into 15 no. units. The built accommodation extends to approximately 62,902 sq.ft. of which approximately 15,400 sq.ft has been sold off long leasehold. The overall site extends to c.4.15 acres and has direct access from both the Mallusk Road and also the Trench Road.

On the Mallusk Road frontage there is a split level building which is occupied by two tenants and comprises units 10-15. 

Units 10, 11, 12, 14 & 15 are occupied by Donnelly Brothers (Belfast) Ltd and are utilised for a combination of car showroom, offices, garage workshop space and external sales yard area. Unit 13 is occupied by Henderson Retail Limited and comprises a Maxol branded fuel forecourt with a Spar Convenience Shop, instore Subway, ATM, stores and staff facilities.

The middle section of the site is predominantly comprised of 3 buildings split into units 6, 8, 9 & 16. These units are all occupied under a single lease to Donnelly Brothers Ltd and are utilised for a combination of garage workshops, offices, storage and staff facilities.


The Trench Road entrance at the rear of the site provides access to a ‘T’ shaped purpose built building which comprises units 1-5 (units 2-5 have been sold off long leasehold). Unit 1 is currently vacant and provides warehouse, ground & first floor offices and mezzanine level accommodation totalling c.8,968 sq.ft.


See the site plan for unit numbers and layout.

 

SITE AREA


We estimate the site area to be approximately 4.15 acres (1.68 hectares)

 

ASSET MANAGEMENT


Potential asset management opportunities include:
• Let the vacant unit
• Re-Let units 6,8,9&16
• Regear occupational leases
• Refurbish the older units and re-let at higher rents
• Construct additional units
• Sell off the units piecemeal as investment opportunities or with Vacant Possession
• Redevelopment potential subject to requisite consents.

 

TITLE

We understand that the property is held Freehold.

 

VAT

The property has been elected for VAT. It is envisaged the transaction will be treated as a TOGC.

 

PROPOSAL

We are instructed to seek offers in excess of £2,750,000 excluding VAT for our clients freehold interest. A purchase at this level would reflect an attractive Net Initial Yield of 7.07% assuming purchasers costs of 6.42%

 

FURTHER INFORMATION


For more information or to arrange a viewing please contact:


Mark Riddell
07920 186523
mark@riddellmckibbin.com 

 
Martin McKibbin
07715 269699
martin@riddellmckibbin.com 


3rd Floor
7-11 Linenhall Street
Belfast
BT2 8AA
028 9531 3122
www.riddellmckibbin.com
Ref: RM010

 

 

 

Riddell McKibbin Limited for themselves and for the Vendors or Lessors of the property whose agents they are give notice that; i) these particulars are given without responsibility of Riddell McKibbin Limited or the Vendors or Lessors as a general outline only, for the guidance of prospective purchasers or tenants, and do not constitute the whole or any part of an offer or contract; ii) Riddell McKibbin Limited cannot guarantee the accuracy of any description, dimensions, references to condition, necessary permissions for use and occupation and other details contained herein and any prospective purchasers or tenants should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the accuracy of each of them; iii) no employee of Riddell McKibbin Limited has any authority to make or give any representation or warranty or enter into any contract whatsoever in relation to the property; iv) VAT may be payable on the purchase price and/or rent, all figures are quoted exclusive of VAT, intending purchasers or lessees must satisfy themselves as to the applicable VAT position, if necessary by taking appropriate professional advice; v) Riddell McKibbin Limited will not be liable, in negligence or otherwise, for any loss arising from the use of these particulars.

Directions

Mallusk is one of Northern Irelands leading industrial / distribution / trade counter and car showroom locations. The area has a successful industrial and commercial base with good communication links. Mallusk is situated within Newtownabbey in the Greater Belfast area accessed from the M2 Motorway at Sandyknowes Roundabout. Mallusk benefits from key communication and transport links situated approximately 7 miles north of Belfast City Centre, 9 miles east from the Belfast International Airport, 8 miles north of the Belfast City Airport, 17 miles from the Port of Larne and 7 miles from the Port of Belfast providing access to all major UK and a number of International destinations.

The area has a range of both national and local occupiers such as Marks and Spencer"s, Diageo, Donnelly Brothers, Mercedes Benz Van & Truck, Royal Mail, The Henderson Group, Wilsons Auctions and Countrywide Freight.

The property is centrally located within Mallusk and is situated fronting onto the Mallusk Road which is the main thoroughfare, whilst it also benefits from a further access from Trench Road at the rear of the development.

Personal Notes

Add a personal note about this property

Please or register 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.

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

Property Statistics

Total Views

(since advertised)

427

Listing Views

Date Views Unique Views Featured Published
17th Sep 5 5 No Yes
18th Sep 1 1 No Yes
19th Sep 6 6 No Yes
20th Sep 6 6 No Yes
21st Sep 8 8 No Yes
22nd Sep 7 7 No Yes
23rd Sep 2 2 No Yes
24th Sep 4 4 No Yes
25th Sep 8 8 No Yes
26th Sep 0 0 No Yes
27th Sep 3 3 No Yes
28th Sep 4 4 No Yes
29th Sep 2 2 No Yes
30th Sep 2 2 No Yes
1st Oct 3 3 No Yes
2nd Oct 2 2 No Yes
3rd Oct 6 6 No Yes
4th Oct 6 6 No Yes
5th Oct 5 5 No Yes
6th Oct 1 1 No Yes
7th Oct 6 6 No Yes
8th Oct 5 5 No Yes
9th Oct 6 6 No Yes
10th Oct 4 4 No Yes
11th Oct 2 2 No Yes
12th Oct 8 8 No Yes
13th Oct 4 4 No Yes
14th Oct 3 3 No Yes
15th Oct 7 7 No Yes
16th Oct 4 4 No Yes

Are you selling this property?

Find out how to make your property stand out more, increase your views and get twice the exposure as a standard listing!

Are you selling this property?

Find out how to make your property stand out more, increase your views and get twice the exposure as a standard listing!

  • Get twice the exposure than a standard listing
  • Attractive design with banner and additional photographs
  • Get to the top of the search results (Featured only)
  • Choose the Featured or Premium Option or both
Increase Your Views
From
£2
a week
Only
£49
(Lifetime)

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