This agent has listed the accuracy as: General Area
- CLOSING OFFERS BY NOON FRIDAY 26th MAY 2017
- Prominent Restaurant Investment
- t/a Boojum Mexican Burrito Bar
- (Tenant Unaffected)
Investment Summary Prominent Restaurant Investment within easy walking distance of the city centre. Fully let to Boojum Ltd at a passing rent of £36,000 increasing to £39,000 by June 2019. Seeking offers in excess of £450,000 exclusive representing a net initial yield of 7.62% assuming purchasers costs of 4.52%. Price reflects a low capital value rate of approximately £68.77 per sq ft.
This is a prominent 3 storey mid-terrace building of traditional construction covered by a pitched tiled roof. Internally the property has been fitted out providing a burrito bar on the ground floor with seating area to the front and kitchen area/stores to the rear. The first floor is currently utilised as stores with the second floor providing office space and ancillary staff areas. Externally the property benefits from a good frontage to the main road and also has rear access via a shared alley way off either Mountcharles or Crescent Gardens for refuse collections and deliveries.
Boojum has been trading since 2007 and are an award winning Mexican burrito bar. They currently trade from four outlets in Belfast, three in Dublin, one in Galway and Cork.
The investment opportunity is being sold on a private treaty basis with a guide price of £450,000 exclusive of VAT. A sale at this price would reflect a net initial yield of 7.62% assuming purchasers costs of 4.52%.
Please Note: We are inviting written offers to be submitted to Osborne King’s offices no later than noon on Friday, 26 May 2017. For further details contact the agents.
EPC - C60
The property is located on Botanic Avenue adjacent to Madisons Hotel close to Queens University and Shaftsbury Square. The surrounding area comprises a varied mix of commercial occupiers including Caffe Nero, Russells, The Empire and Botanic train station is in close proximity. The asset is located approximately 1 mile south of the city centre and as such benefits from a high level of passing trade from local business, young professionals and students that characterise the area.
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