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7-9 Conway Square, Newtownards BT23 4DA

Price £550,000

Commercial Property (4,941 sq. feet) For Sale

Price £550,000

Commercial Property (4,941 sq. feet) For Sale

Price £550,000
Style Commercial Property
Status For sale
  • Additional Information
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Additional Information

Features

  • Best location in the thriving town of Newtownards.
  • Let to Specsavers and Del Piero's until 2027.
  • Annual rent of ?44,250 exclusive.
  • Offers in excess of ?550,000, subject to contract, are sought for the benefit of the freehold interest.

Additional Information

Location
Newtownards is located 10 miles east of Belfast and has a resident population of c.30,000 people together with a catchment population of c.165,000 people within a 15 minute drive time. In addition to being a busy commuter town it is a prosperous market town and administrative centre with major employers including Spirit Aerosystems, Denroy, Magellen Aerospace, Ards & North Down Borough Council, Willowbrook Foods, Mash Direct and Pritchetts. In total 8 of the top 30 manufacturing companies in Northern Ireland are located there.

Description
The investment comprises the following approximate areas.

9 Conway Square (Specsavers)
Ground Floor c. 1,106 sq.ft.
First Floor c. 2,585 sq.ft.

7 Conway Square (Del Piero's)
Ground Floor c. 1,250 sq.ft.

Both properties benefit from good rear servicing with parking.

Tenure & Tenancy
The property is freehold and is let as follows.

9 Conway Square (Specsavers)
Let to Specsavers Optical Superstores Limited from 21st July 2017 on a 10 year effective full repairing and insuring lease, expiring on 20th July 2027 at a rent of ?27,500 pax and with an upward only rent review in July 2022.

7 Conway Square (Del Piero's)
Let to Pitstop Restaurants Limited trading as Del Piero's from 6th June 2017 on a 10 year effective full repairing and insuring lease, expiring on 5th June 2027 at a rent of ?16,750 pax and with an upward only rent review in June 2022.

Specsavers are one of the worlds leading opticians with in excess of 2,100 stores and have a D&B rating of 5A1. Specsavers are responsible for c.62.15% of the total income.
Pitstop Restaurants Limited trading as Del Piero's were established in 2010 and are one of the provinces leading independent F&B operators with 10 outlets.

Price
Offers in excess of ?550,000, subject to contract, are sought for the benefit of the freehold interest, reflecting a net initial yield of c. 7.67% after standard purchase costs.

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

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Property Statistics

Total Views

(since advertised)

668

Listing Views

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

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