Income producing development site
Quay Gate Development, 16 Scrabo Street, Belfast
Prominent development site with frontage onto Middlepath Street and the M3 Sliproad
DEVELOPMENT SITE
FOR SALE
Suitable for office, hotel or residential developmet, subject to planning Car parking and advertising hoarding currently producing a Net Income of £45,327 per annum Site Area: 0.30 hectare (0.74 acre), subject to right of way
Property Consultants
RHM Commercial LLP First Floor, Edward Court, Saint Anne’s Square, Belfast, BT1 2LR T 028 9043 4300 F 028 9043 4330 www.rhmcommercial.com
QUAY GATE DEVELOPMENT, 16 SCRABO STREET, BELFAST BT5 4BD
Location
description
accommodation
The site is accessed from Scrabo Street off Station Street on the east side of the River Lagan close to Queens Bridge, the Lagan Weir and the SSE Arena. The site is also within 10 minutes walking distance of Victoria Square and Belfast City Centre.
Development site extending to 0.30 hectare (0.74 acre) with a developable area of 0.11 hectare (0.27 acre) after allowing for rights of way, access road and on-site car parking.
Total Site Area 0.30 hectare
(0.74 acre)
Developable Area 0.11 hectare
(0.27 acre)
The location benefits from easy access to Titanic Quarter and the motorway network.
Property Consultants
Access is via Scrabo Road and a shared gateway with Quay Gate House. The site is highly visible to traffic on Middlepath Street, the M3 Sliproad and any completed building should be visible from the M3 flyover.
The site is currently laid out with 80 car parking spaces with potential to increase this by removing the modular office building and re-marking the spaces.
QUAY GATE DEVELOPMENT, 16 SCRABO STREET, BELFAST BT5 4BD
title
tenancies
planning
The ma���������������������������� in site is held by way of a long lease subject to a nominal ground rent. The portion of ground highlighted blue on the above map is held by way of a 125 year lease from 1 June 1999 subject to a ground rent of £12,500 per annum with 5 yearly reviews. The rent review in 2014 has not been implemented. The owners of the adjoining Quay Gate House office building contribute £3,125 per annum to this ground rent.
Car parking spaces within the area highlighted red are let on month-to-month licences producing a rental income of £30,500 per annum.
Planning permission was approved on 24th June 2003 for the construction of an 8 storey call centre on the site extending to a gross external area 80,000 sq ft including 10,000 sq ft of car parking. (Planning Ref: Z/2002/0172/F). This planning approval has now expired.
The area hatched green is a right of way in favour of the owners and occupiers of Quay Gate House.
The area highlighted blue is operated as a pay and display car park and produces an annual income of £21,000. The pay and display equipment servicing costs are £298 plus VAT, per annum. The advertising hoardings are let on a variable rent agreement, currently producing £3,500 per annum. Total Net Income: £45,327 per annum
price
Offers are invited in the region of £750,000. vat
The premises are not registered for Value Added Tax.
www.rhmcommercial.com
Income Producing Development Site Quay Gate Development, Scrabo Street, Belfast
Viewing
RHM COMMERCIAL LLP
Strictly by prior appointment with RHM Commercial.
RHM Commercial is an independent firm of property consultants providing specialist services to both owners and occupiers of property. Our rapidly expanding client base includes over 25% of the top 100 companies in Northern Ireland.
Contact
Paul Ritchie T 028 9043 4300 E
[email protected]
RHM Commercial LLP Conditions under which these particulars are issued All details in these particulars are given in good faith, but RHM Commercial LLP for themselves and the Vendors/Lessors of this property for whom they act give notice that:- 1. These particulars do not and shall not constitute, in whole or in part, an offer or a contract or part thereof, and RHM Commercial LLP have no authority to make or enter into any such offer or contract. 2. All statements contained in these particulars are made without acceptance of any liability in negligence or otherwise by RHM Commercial LLP, for themselves or for the Vendors/Lessors. 3. None of the statements contained in these particulars is to be relied on as a statement or representation of fact or warranty on any matter whatsoever, and intending purchasers must satisfy themselves by whatever means as to the correctness of any statements made within these particulars. 4. The Vendors/Lessors do not make, give or imply, nor do RHM Commercial LLP or any person in their employment have any authority to make, give or imply, whether in these particulars or otherwise, any representation or warranty whatsoever in relation to the property. The statement does not affect any potential liability under the Property Misdescriptions Act 1991.
First Floor, Edward Court, Saint Anne’s Square, Belfast, BT1 2LR T 028 9043 4300 F 028 9043 4330 www.rhmcommercial.com
