Lagan House, Sackville Street

PROPERTY SUMMARY

•  £111,207.50 per annum
• 10,812 sq. ft
• 31 car park spaces 
• Air conditioned suites

DESCRIPTION
This is a great opportunity to acquire an office building in Lisburn fully let to quality tenants, most of whom have been in occupation for several years. Income - £111,207.50 p.a.

The building was built to a high standard in 2005 and has been fully let ever since to tenants attracted by the ease of access, good car parking and proximity to the train station.  It has a secure car park for 31 cars.

It consists of a 2 storey and 3 storey element and a central lobby area, with lift access to all floors. There is a small 2 storey unit with a separate access at the end of the building.

LOCATION
Lisburn is a strategically positioned city located approximately 8 miles southwest of Belfast, making it an attractive office investment location within the wider Belfast metropolitan area. The city benefits from excellent connectivity via the M1 motorway, direct rail links to Belfast and Dublin, and convenient access to both Belfast International Airport and George Best Belfast City Airport. Lisburn offers a combination of lower occupational than central Belfast, a skilled labour pool drawn from the surrounding catchment area, and a strong local economy supported by advanced manufacturing, professional services, technology, and public-sector employment.

The subject property is situated off Wallace Avenue, which is consdiered the main commercial and office hub of Lisburn.   Wallace avenue has easy access to both Lisburn City Centre, Walalce Park and the local Train Station, which provides access to Dublin and Belfast. 

ACCOMMODATION
  Unit           Floor                                                Sq. Ft S               q. M.             NAV
Unit 1         Ground floor                                      1,655                   153.8            £15,100
Unit 2         Ground floor                                      1,988                   184.75          £19,100
Unit 3         First floor                                            1,775                   165              £36,800
Unit 4         First floor                                            2,060                   191.5
Unit 5         Second floor                                       2,140                   199             £21,500
Unit 6         Front small office- two storey            1,194                    111             £9,000

Total                                                                     10,812                  1,005
(rent inclusive of car parking

TENANCY SCHEDULE
Unit          Tenant                            Sq Ft        Expiry
Unit 1        JT MAXWELL                 1,655        Jun-31
Unit 2        JT MAXWELL                 1,988        Jun-31
Unit 3        IVA WATCH (Aryaz)        1,775       Apr-30
Unit 4        IVA WATCH (Aryaz)        2,060       Apr-30
Unit 5        ARYAZ 2,                        140          Apr-30
Unit 6        Music for Life                 1,194       Apr-30

Total  Annual Rent  £111,207.50
Rent inclusive of car parking.

ABOUT THE TENANTS

JT Maxwell  Ltd
JT Maxwell Limited is a Northern Ireland-based advisory and financial services firm founded in 2015 and headquartered in Lisburn.  The firm specialises in insolvency, business recovery, restructuring, creditor services, and financial advisory work for both businesses and individuals experiencing financial difficulties.
 
IVA Watch (now part of Aryza Group)
IVA Watch (company number NI613679) was incorporated in 2012 and became well known in the UK insolvency and IVA sector for providing portfolio management, insolvency administration, creditor services and technology
enabled support to firms managing Individual Voluntary Arrangements (IVAs) and bankruptcy cases.   In 2024 the company was acquired by the Aryza group and is now effectively part of Aryza’s creditor-services division, with control passing to Aryza Holdings Limited.

ARYZA GROUP
ARYZA  is a private fintech/software company that provides SaaS platforms for lending, collections, debt recovery, insolvency, governance, risk, and compliance processes. The company focuses on automating financial workflows for regulated industries and serves organizations across the credit and debt lifecycle.  It was Founded in 2002 and operates in more than 20 countries with over 500 employees and 1,650+ clients globally. It is headquartered in Dublin, with operations across the UK, Europe, North America, Australia, and Asia Pacific.

SALE DETAILS
Offers are invited in the region of £1,200,000. This would reflect a Net Inital Yield of 8.75% and a Capital Value of £110 psf.

EPC
62C

VAT
The property is elected for VAT.

VIEWING AND FURTHER INFORMATION
Stephen Deyermond 
07968 727196 
[email protected]

Myles Elliott 
07526 566679 
[email protected]