8 & 8A Marcus Square, Hill Street, Co Down, Newry BT34 1BE

Investment Property For Sale
Offers around £475,000

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Best Property Services (Newry)

Best Property Services (Newry)

028 3026 6811 Show Phone Number Call The Agent
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Key Information

Price Offers around £475,000
Style Investment Property
Status For sale

Location

This agent has listed the accuracy as: Quite Near

Additional Information

LOCATION

Newry, designated a city in 2002 is strategically located on the economic corridor between Northern Ireland and the Republic of Ireland located approximately 38 miles south of Belfast and approximately 60 miles north of Dublin.

With a district population in excess of 90,000 people and benefiting from excellent transport links to the North and South of Ireland Leading to substantial cross border trade, Newry has experienced considerable expansion over recent years and is one of the country's foremost shopping destinations with an array of traditional independent traders and multi-national retailers in various retail schemes across the city to include The Quays Shopping Centre, Buttercrane Shopping Centre, Damolly Retail Park and Merchants Quay Retail Park.

The property occupies an excellent site in the middle of Newry City Centre with entrances at both Marcus Street and Hill Street. Other occupiers in this location include Thomas Cook, Dunnes Stores, Danske Bank, Supervalu and the Translink bus station.

ACCOMMODATION

  • Ground Floor: Retail Area - NIA 379.0m2 (4,090sqft)
  • Storage Area - NIA 127.83m2 (1,100sqft)
  • Storage Area (First Floor) - NIA 88.08m2 ( 948sqft)
  • First Floor: Storage - NIA 128.34m2 (1,381sqft)
  • Second Floor: Storage - NIA 120.34m2 (1,295sqft)

LEASE DETAILS

  • Tenant - Menarys
  • Lease Expiry - September 2021
  • Passing Rent - £40,000 per Annum

The property is tenanted by Menarys which was founded in 1923. Following rapid expansion in the 1980's and 90's, Menarys now have 17 Menarys and Tempest stores, one store Support Centre and more than 360 members of staff.

GUIDE PRICE

Offers in the Region of £475,000 NAV

No 8 - We are verbally advised that the NAV is £40,200. The commercial rate in the £ for 2016/2017 is £0.56.

No 8A - We are verbally advised that the NAV is £1,650. The commercial rate in the £ for 2016/2017 is £0.56.

EPC

Please contact the agent.

CLOSING DATE FOR OFFERS

9th December 2016 Whilst the agents invite offers from interested parties for this property initially on a private basis, we reserve the right on behalf of the Vendors to conclude the bidding (if necessary) by holding a meeting of all bidders on a specified date and time in our office. In the event that a meeting is to be arranged, only those parties with a valid offer on the property can be assured of being notified of the specific time and date.

VENDORS SOLICITOR

McShane & Co, 34 Hill Street, Newry, Co Down.

VAT

All prices, rentals and outgoings are exclusive of but may be liable to VAT.

VIEWING

Strictly by appointment.

Daragh Mallon 07775576858 daragh@bestpropertyservices.com

Gerard Kelly 07796947736 gerard@bestpropertyservices.com

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Total Views

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Listing Views

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