Price Asking price £950,000
Style Investment Property
Status For sale
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Additional Information

Features

  • Parade of four fully let retail units and three apartments occupying a prime pitch on Belfast's Lisburn Road.
  • The retail units and apartments are being offered to the market in one lot by way of formal tender.
  • Tenancy schedule and income/tenancy details available as part of the legal pack.
  • Excellent opportunity for an investor to acquire a substantial mixed use portfolio in a prime location.
  • Closing date for tenders Friday 23rd November 2018.
  • Legal pack available from DWF Solicitors.

Additional Information

LOCATION

The subject property occupies an excellent position on the Lisburn Road in South Belfast approximately 2 miles from the city centre. The Mentmore Building is located immediately opposite Lisburn Road Fire Station a short distance from Marks and Spencers. The Lisburn Road is a highly regarded residential and commercial location and is positioned in one of the most affluent areas of Belfast. It benefits from a mix of local and national retailers and a variety of coffee shops and restaurants. From both a residential and commercial perspective it is regarded as a premier address.


DESCRIPTION

The property being offered for sale comprises of four retail units and three apartments. Full information on the tenancies and current occupancy is available with the legal pack via DWF Solicitors.

SCHEDULE OF ACCOMMODATION (approximate only)

Retail Unit 1 t/a LJ Rentals - 580 sq ft
Retail Unit 2 t/a Andrew Watson - 740 sq ft
Retail Unit 3 t/a Crawford Mulholland- 810 sq ft
Retail Unit 4 t/a Roycroft Interiors - 750 sq ft
Apartment 2 - 712 sq ft
Apartment 6 - 712 sq ft
Apartment 10 - 1,336 sq ft
The above sizes are approximate only and prospective purchasers must carry out their own measured survey.

IMPORTANT INFORMATION TO BE NOTED

The property being offered to the market is the residual of the Mentmore development which includes the retail units, three apartments and the common areas. Full information is contained in the legal pack.

Two of the retail units have been the subject of water ingress over a prolonged period causing internal damage. These leaks have not yet been resolved and is the subject of an ongoing claim against an insurance company. Again full details are disclosed in the legal pack.

METHOD OF SALE

The property is being offered for sale by way of formal tender. Prospective purchasers must request a legal pack from the vendors solicitor and make their formal contractual offer to purchase by 12 noon on Friday 23rd November 2018. Tenders should be sent to DWF Solicitors, 42 Queen Street, Belfast, BT1 6HL. Offers to purchase are to be placed in a sealed envelope and marked 'Formal Tender for Mentmore'.

Legal packs are available from the vendors solicitor:

Kirsty Mairs
DWF Solicitors, 42 Queens Street, Belfast, BT1 6HL
Tel 02890 230230
Email: kirsty.mairs@dwf.law

All formal tenders should include the following:

1. A signed contract.
2. Confirmation of the proposed purchase price.
3. A cheque equivalent to 5% of the purchase price made out to DWF Solicitors.
4. Any other proposed conditions and confirmation of the completion date (completion date to be Friday 14th December 2018).

Please note that the vendor is not obliged to accept the highest offer or any offer received via tender or otherwise.

Information contained in this brochure is for guidance only and prospective purchasers must make their own enquiries via the legal pack.

GUIDE PRICE

Offers are invited in the region of £950,000. Please note that the retail units are vat registered and therefore vat will be payable on the purchase price of the retail units.

FURTHER INFORMATION

For further information in respect of the sale by formal tender please contact Trevor Dougan or Tony Adams on 02890 308855 or info@douganproperty.com

Directions

The property is located opposite the fire station on the Lisburn Road.

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Property Statistics

Total Views

(since advertised)

366

Listing Views

Date Views Unique Views Featured Published Bumped
18th Oct 0 0 No No No
19th Oct 0 0 No No No
20th Oct 0 0 No No No
21st Oct 0 0 No No No
22nd Oct 0 0 No No No
23rd Oct 0 0 No No No
24th Oct 0 0 No No No
25th Oct 0 0 No No No
26th Oct 0 0 No No No
27th Oct 0 0 No No No
28th Oct 0 0 No No No
29th Oct 0 0 No No No
30th Oct 66 66 No Yes No
31st Oct 37 37 No Yes No
1st Nov 34 34 No Yes No
2nd Nov 23 23 No Yes No
3rd Nov 13 13 No Yes No
4th Nov 16 16 No Yes No
5th Nov 19 19 No Yes No
6th Nov 18 18 No Yes No
7th Nov 20 20 No Yes No
8th Nov 23 23 No Yes No
9th Nov 18 18 No Yes No
10th Nov 9 9 No Yes No
11th Nov 14 14 No Yes No
12th Nov 5 5 No Yes No
13th Nov 15 15 No Yes No
14th Nov 10 10 No Yes No
15th Nov 17 17 No Yes No
16th Nov 9 9 No Yes No

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