St George`s Building, 37-41 High Street

• Belfast is strategically located on the banks of the River Lagan and benefits from excellent transport connectivity.
• Belfast is the capital of Northern Ireland with a population extending to approximately 350,000, the 12th largest city in the United Kingdom and second largest on the island of Ireland.
• The property occupies a highly prominent and central location on High Street, one of Belfast's busiest thoroughfares and benefits from substantial pedestrian and vehicular traffic.
• Mixed-use office and retail building extending to approximately 17,681 sq ft over ground level and 3 upper floors.
• Available as a fully let investment or, alternatively, suitable for owner occupation, with the vendor willing to surrender the lease on the third floor office suite if required by a purchaser.
• WAULT of 3.96 years to lease expiry and 3.19 years to break.
• Over 87% of the income derived from offices.
• Gross income of £284,500 per annum and a net income of £255,407 per annum.
• Strong occupational tenant line up with over 72% of the gross income secured against tenants with a minimum or lower than average risk D&B rating.
• Held Freehold.

St Georges building is a prominent mid-terrace commercial building of traditional masonry construction with a mansard style roof with dormer windows.
The property extends to 17,685 sq ft in total over ground, first, second and third floors.
Designed in 1881 by Thomas Jackson and Son in Italianate style, the property is listed B1 under reference HB26/50/188.
The property underwent extensive refurbishment in 2019 by the current vendors.
The façade is finished in painted white render with contrasting dark architectural detailing.
At ground floor level, the building accommodates two retail/commercial units across 2,508 sq ft and benefits from extensive frontage and display glazing, enhancing visibility and accessibility.
The upper floors comprise of 15,177 sq ft of office accommodation, accessed via a bright and contemporary entrance hall, which has been refurbished to a high standard.
The first-floor office accommodation features the former boxing ring from the 1960’s as a unique focal point, framed by ornate Victorian detailing, decorative ironwork and skylit ceiling.
A combination of modern open plan and cellular offices surround the former boxing ring, seamlessly integrating with the historic fabric of the building.
The upper floors are accessed via a central staircase and feature newly refurbished accommodation including new kitchens, WC and shower facilities.
The accommodation provides a generous mix of open plan areas and partitioned meeting rooms, providing flexible & efficient workspace.
The building is fully occupied by two retail tenants and five office occupiers, however the vendor is willing to surrender the lease on the third-floor office suite which extends to 4,305 sq ft, if required by a purchaser seeking occupation.
A full tenancy schedule can be made available upon request.

The city has attracted significant inward investment from leading global occupiers across the technology, financial services, legal and professional services sectors.
Belfast benefits from excellent transport infrastructure, with Belfast Grand Central Station providing enhanced rail and bus services across Northern Ireland and direct links to Dublin.
Belfast City Airport is located approximately 10 minutes from the city centre, while Belfast International Airport is accessible within approximately 30 minutes, providing convenient access to key UK and European destinations.
As Northern Ireland’s economic powerhouse, Belfast generates a significant proportion of the region’s economic output and continues to benefit from
both public and private sector investment.
The city’s strong occupational market, diverse business base and ongoing regeneration initiatives underpin its appeal as a compelling investment location with long-term growth potential.

We have been advised that the property is held Freehold.

EPC- E116. full certificate available on request.

the property has been elected for the purpose of VAT. It is envisaged that the sale will be structured by the way of a Transfer of a Going concern (TOGC).

We have been instructed to seek offers in excess of £2,400,000 (Two Million, Four Hundred Thousand Pounds Sterling) for our clients freehold interest, excluding VAT.
A purchase at this level would reflect an attractive net initial yield of 10.01% assuming purchasers’ costs of 6.36%, and a capital value of £136 per sq ft.