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Linen Green Shopping Village, Moygashel BT71 7HB

Offers over £4,500,000

Investment Property (9.6 acres) For Sale

Offers over £4,500,000

Investment Property (9.6 acres) For Sale

Price Offers over £4,500,000
Style Investment Property
Status For sale
  • Additional Information
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  • Personal Notes

Additional Information

Features

  • Popular Shopping Village Investment
  • Active Asset Management & Further Development Potential
  • Entire site measures c. 9.6 acres (c. 3.47 hectares)

Additional Information

Opportunity Summary

The salient details and opportunities are as follows:

  • Comprises a number of buildings extending to approximately 122,266 sq ft (disregarding derelict buildings to rear)
  • Entire site measures c. 9.6 acres (c. 3.47 hectares)Reposition the scheme to include more multiple national tenants to build on the current retail offer, footfall and income
  • Refurbishment or redevelopment of vacant and derelict buildings/land
  • The scheme currently produces a gross income of approximately £640,783 per annum and a net income (after service charge, vacant rates shortfall and rent free) of approximately £448,310 per annum
  • We are instructed to seek offers in excess of £4,500,000 exclusive
  • A purchase at this level would reflect a net initial yield after service charge and rates shortfalls of 9.35% and an attractive capital value of £36.80 per sq ft overall (disregarding derelict buildings to rear and allowing for the 2 no residential units) 

Asset Management Potential

The Linen Green offers excellent asset management opportunities to include: 

  • Letting of vacant units to include more multiple national tenants.
  • Further establish the scheme as a leisure and boutique fashion brand destination.
  • Further develop as historical tourist destination, capitalising on Linen Green’s manufacturing history.
  • Open planning consents to include “grocery” store.
  • The highly prominent Glass House is suitable for office, gymnasium or retail, subject to planning.
  • Refurbish or redevelop Grahams Buildings and former Alpha Newspapers Building.

EPC's - C67 - F132

Directions

Dungannon is a popular and well known County Tyrone town situated to the south-west of Lough Neagh approximately 40 miles west of Belfast and 10 miles south of Cookstown. The town benefits from good accessibility links being located on the M1 motorway and is a popular industrial/warehousing location hosting some of Northern Ireland’s largest manufacturing businesses. The town centre hosts a good range of local amenities including a range of shops, schools and churches, etc. 

According to the 2011 Census Dungannon had a district population of 21,485 (source NISRA). The Linen Green is situated in Moygashel village which falls within the Dungannon settlement limit, approximately 1 mile south of Dungannon town centre and less than a mile from junction 15 of the M1 motorway. Moygashel is mainly a residential location; however, it also hosts a number of commercial businesses including Donnelly Group Motors headquarters, Mackle Pet Foods and Menarys Retail Headquarters.

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Property Statistics

Total Views

(since advertised)

1,013

Listing Views

Date Views Unique Views Featured Published Bumped
27th Jun 10 10 No Yes No
28th Jun 20 20 No Yes No
29th Jun 10 10 No Yes No
30th Jun 4 4 No Yes No
1st Jul 5 5 No Yes No
2nd Jul 6 6 No Yes No
3rd Jul 5 5 No Yes No
4th Jul 12 12 No Yes No
5th Jul 8 8 No Yes No
6th Jul 9 9 No Yes No
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12th Jul 4 4 No Yes No
13th Jul 10 10 No Yes No
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15th Jul 9 9 No Yes No
16th Jul 6 6 No Yes No
17th Jul 9 9 No Yes No
18th Jul 1 1 No Yes No
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21st Jul 6 6 No Yes No
22nd Jul 2 2 No Yes No
23rd Jul 4 4 No Yes No
24th Jul 1 1 No Yes No
25th Jul 10 10 No Yes No
26th Jul 2 2 No Yes No

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