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Bayview Industrial Estate, 153-159 Dargan Crescent, BELFAST BT3 9JP

Offers around £450,000

Commercial Property For Sale

Offers around £450,000

Commercial Property For Sale

Price Offers around £450,000
Style Commercial Property
Status For sale
  • Additional Information
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Additional Information

Features

  • Prominent warehouse building strategically located in close proximity to the M2 motorway and Belfast Port
  • Fully let on FRI terms to Europarts Motor Factors Ltd t/a Euro Safety Glass.
  • Current rent of £43,000 p.a.x
  • Ground rent paid by Tenant.
  • Warehouse benefits from 2no. roller shutters with 4.5m clearance and 6m eaves.
  • Extending to approximately 13,925 sq.ft
  • Offers in the region of £450,000 exclusive, subject to contract.
  • Reflects a NIY of c. 9.15% after purchase costs of c. 4.28% and a capital value of £32 per sq.ft.

Additional Information

The property at 157 Dargan Crescent comprises a modern warehouse unit and ancillary offices. The building is of steel portal frame construction, including a concrete base wall with brick facing surmounted by insulated profile sheeting.

The property at 157 Dargan Crescent comprises a modern warehouse unit and ancillary offices. The building is of steel portal frame construction, including a concrete base wall with brick facing surmounted by insulated profile sheeting.

This property forms part of a larger site of c. 3.7 acres known as Bayview Industrial Estate, on which an additional 6 industrial units are located. These units have been previously sold by way of long leasehold, leaving residual lands common to all units within the site. These residual lands and the obligation for the ongoing maintenance of same will be included within the sale.

Please note that all costs are fully recoverable from each building owner.

Covenant Information

Europarts Motor Factors are a large distributor of car parts throughout the UK and Ireland. The company is well established within NI and have been trading for almost 40 years (www.europartsmotorfactors.com).

The property at 157 Dargan Crescent trades as Euro Safety Glass, which is the largest independent distributor of automotive glass and other associated products to the replacement market in Ireland.

The company has been trading for over 28 years, specialising in automotive, commercial, plant and agricultural glass www.eurosafetyglass.com)

Title

The property is held by way of long leasehold on a 125 year lease from 1st September 1987 and is subject to an annual ground rent.

Ground Rent

An annual ground rent is payable to Belfast City Council in respect of the overall Bayview Industrial Estate site, which is subject to 5 yearly reviews.

The current ground rent is £75,000 per annum and is fully recoverable from all building owners within Bayview Industrial Estate (known as plot 12), however it will be the ongoing responsibility of the purchaser to pay and recover this cost.

Service Charge

While 157 Dargan Crescent is located on a self contained site and is not subject to a service charge, as noted above, the residual common lands within Bayview Industrial Estate are maintained via recovery of a service charge.

It will be the ongoing responsibility of the purchaser to manage and administer this service charge, however all costs are fully recoverable from all building owners within the industrial  estate.

There is currently a managing agent in place to manage services within the site on behalf of the landlord and again this cost is fully recoverable.

Proposal

Seeking offers in the region of £450,000 (Four Hundred and Fifty Thousand Pounds) exclusive, subject to contract.

A purchase at this level would reflect a NIY of c. 9.15% after purchasers costs of c.4.28% and a capital value of £32 per sq. ft.

Vat

All prices, outgoings and rentals are exclusive of, but may be liable to Value Added Tax

Contact

Jonathan Haughey

02890 501 501

07718 571 498

[email protected]

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Property Statistics

Total Views

(since advertised)

556

Listing Views

Date Views Unique Views Featured Published Bumped
26th Jun 37 37 No Yes No
27th Jun 34 34 No Yes No
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2nd Jul 8 8 No Yes No
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24th Jul 4 4 No Yes No
25th Jul 1 1 No Yes No

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