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Colliers International

Colliers International

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Key Information

Price £395,000
Style Investment Property
EPC Rating C57
Status For sale

Location

This agent has listed the accuracy as: General Area

Features

  • BUSINESS UNAFFECTED
  • For Sale in One or Two lots
  • A prominent modern Retail Warehouse extending to; Unit A: 4,989 sq. ft. (463.5 sq. m) Unit B: 4,945 sq. ft. (459 sq. m)
  • Open Class 1 Retail Warehousing consent
  • Each unit is Let on new 5 year leases with a Passing Rent of £35,000 rising to £42,000 reflecting a yield of 10.21%
  • C. 100 on site car parking spaces
  • Offers are invited in the region of £395,000 reflecting a NIY of 8.51% after allowing for purchasers costs of 4.14%

Additional Information

Moira Retail Park is located approximately 1 mile from Lisburn City Centre and comprises c. 30,000 sq. ft. of Open Class 1 Retail Warehousing. The scheme is anchored by Lidl and benefits from c.100 on site car parking spaces. The subject units extend to c. 4,989 sq. ft. (463.5 sq. m) & c. 4,945 sq. ft. (459 sq. m). The units benefit from Planning Permission for a mezzanine floor at first floor level. The units benefit from suspended ceilings, air conditioning, carpeted flooring, electric roller shutters and glazed frontage.

LEASE DETAILS Unit A Tenant: Simone Cairns t/a New Adventures Term: 5 years from 1st April 2016 Current Rent: Year 1: £15,000 p.a.x

Year 2: £19,000 p.a.x

Year 3: £20,000 p.a.x

Year 4: £21,000 p.a.x

`Year 5: £22,000 p.a.x Break Options: Tenant break option at the end of year 1 & 3 subject to prior written notice Repairs: Full repairing and insuring lease Unit B Tenant: Electronics Direct Ireland Ltd t/a X Cat Term: 5 years from 24th March 2016 Current Rent: £20,000 p.a.x

Break Options: Tenant break option at the end of year 3 subject to prior written notice Repairs: Full repairing and insuring lease

RATES Unit 3A Net Annual Value 2016/2017: £36,800 Rate in the £: £0.533216 Estimated Rates payable: £19,622.35 per annum UNIT 3B Net Annual Value 2016/2017: £35,600 Rate in the £: £0.533216 Estimated Rates payable: £18,982.49 per annum

VAT We are advised that the property is VAT registered and therefore VAT will be charged on the purchase price. However, it is possible that the sale could be treated as a Transfer of a Going Concern (TOGC).

PRICE Offers are invited in the region of £395,000 exclusive of VAT. A sale at this level would reflect a NIY of 8.51% after allowing for purchasers costs of 4.14%. This reflects a capital value of £39.76 per sq. ft.

FURTHER INFORMATION For further information or to arrange an inspection of the property, please contact: Contact: Andrew Lennon Tel: 028 90 241 500 Email: andrew.lennon@colliers.com

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Total Views

(in last 30 days)

98

Listing Views

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

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