This agent has listed the accuracy as: General Area
- 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%
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: email@example.com
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