Newtownards Road - 125-139.FH11


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FOR SALE

LOCATION PLAN

SUPERB DEVELOPMENT OPPORTUNITY

(With Planning Permission for 15 No. Apartments and 1 No.Double Retail Unit) 125-139 NEWTOWNARDS ROAD BELFAST Currently fully let on mostly short term tenancies at a total rental of £30,123.84 per annum Site Area c.0.0465 hectares (0.115 acres)

Partners: B A Goan FRICS, M P Hopkins BSc MRICS, M A Fitzell BSc (Hons) MRICS Associates: R McKenna BSc (Hons) MRICS, B Wilkinson BSc (Hons) MRICS

www.mckibbin.co.uk

McKIBBIN COMMERCIAL PROPERTY CONSULTANTS for themselves and the vendors or lessors of this property whose agents they are give notice that: 1) The particulars are produced in good faith, are set out as a general guide only and do not constitute any part of a contract; 2) No person in the employment of McKIBBIN COMMERCIAL PROPERTY CONSULTANTS has any authority to make or give any representation or warranty whatever in relation to this property.

McKIBBIN COMMERCIAL PROPERTY CONSULTANTS

CHARTERED SURVEYORS

Callender House 58-60 Upper Arthur Street Belfast BT1 4GJ Tel 02890 500 100 Fax 02890 500 101 email [email protected]

H

Superb development opportunity currently comprising of 7 No. retail units and 3 No. flats currently fully let producing a total rental income of £30,123.84 per annum on mostly short term tenancies.

H

Located on Newtownards Road arguably one of Belfast’s busiest arterial routes. Benefits from convenient access to the City Centre c. 0.5 miles away and to the M2/M3 Motorways connecting the Province’s main road networks. The property is also within close proximity to the Titanic Quarter.

H

The property is ripe for redevelopment and full Planning Permission has been obtained for 15 No. apartments and 1 No. double retail unit.

H

Total site area approx 0.0465 hectares (0.115 acres).

www.mckibbin.co.uk

McKIBBIN COMMERCIAL PROPERTY CONSULTANTS

CHARTERED SURVEYORS

Callender House 58-60 Upper Arthur Street Belfast BT1 4GJ Tel 02890 500 100 Fax 02890 500 101 email [email protected]

FOR SALE

125-139 NEWTOWNARDS ROAD BELFAST

ACCOMMODATION Retail Unit/ Flat

Total Area

Tenant

Unit 1 (125 Newtownards Rd)

GF c. 419 sq ft National Co-Operative FF c. 207 sq ft Chemists Limited

Unit 2 (127 Newtownards Rd)

GF c. 390 sq ft

Unit 3 (129 Newtownards Rd)

Term 15 yrs from 01/01/05 (Break clause 01/01/15)

Rental (P.A.)

PLANNING PERMISSION Notes

NAV

£3,500

Interior repairing Lease

£1,600

The Furdresser 9 mths from Dog Grooming Salon 01/04/10

£1,920

Interior repairing lease.

£1,400

GF c. 202 sq ft FF c. 170 sq ft

Currently Owner Occupied

9 mth lease to be taken from completion date

£2,600

£1,050

Unit 4 (131 Newtownards Rd)

GF c. 239 sq ft FF c. 207 sq ft

Currently Owner Occupied

9 mth lease to be taken from completion date

£2,600

£1,250

Unit 5 (133 Newtownards Rd)

GF c. 439 sq ft FF c. 362 sq ft

Richard Watson CTN

9 mths from 01/09/08

Unit 6 (135 Newtownards Rd)

GF c. 312 sq ft

Richard Watson (Zebra Cafe)

6 mths from 19/07/10

Unit 7 (137 Newtownards Rd)

GF c. 332 sq ft

Richard Hare (Kilt shop)

Flat 1 (1-bed) (139 Newtownards Rd)

GF c. 246 sq ft

Flat 2 (2-bed) (139 Newtownards Rd) Flat 3 (1-bed) (139 Newtownards Rd)

Interior repairing lease

£1,600

£3,840

Interior repairing lease

£1,350

9 mths from c. 01/10/08

£2,880

Interior repairing lease.

£1,350

Mr I. Shaw

6 mths from 01/05/10

£2,400

Interior repairing lease.

£30,000

FF c. 516 sq ft

Agnes Bowers

6 mths from 14/06/10

£3,737.76

Interior repairing lease.

£32,000

GF c. 305 sq ft

Kenneth Abbott

6 mths from 01/07/10

£3,766.08

Interior repairing lease.

£52,000

£2,880

Based on copy Drawing No. 4707/DP01 Rev A dated 28/10/08 provded by Messrs Hall Black Douglas Architects, the approximate areas of the accommodation within the proposed scheme are as follows:Ground Floor

1 No. Double Retail unit Apartment 1 (1 bed) Apartment 2 (1 bed) Apartment 3 (2 bed)

c. 141 sq m (1,522 sq ft) c. 53 sq m ( 570 sq ft) c. 49 sq m ( 527 sq ft) c. 50 sq m ( 538 sq ft)

First Floor

Apartment 4 (2 bed) Apartment 5 (1 bed) Apartment 6 (2 bed) Apartment 7 (2 bed) Apartment 8 (2 bed)

c. c. c. c. c.

66 sq m ( 44 sq m ( 57 sq m ( 57 sq m ( 79 sq m (

710 sq ft) 473 sq ft) 613 sq ft) 613 sq ft) 850 sq ft)

Second Floor

Apartment 9 (1 bed) Apartment 10 (1 bed) Apartment 11 (2 bed) Apartment 12 (2 bed) Apartment 13 (2 bed)

c. c. c. c. c.

50 sq m ( 36 sq m ( 57 sq m ( 57 sq m ( 74 sq m (

538 sq ft) 387 sq ft) 613 sq ft) 613 sq ft) 796 sq ft)

Third Floor

Apartment 14 (2 bed) Apartment 15 (2 bed)

c. c.

86 sq m ( 925 sq ft) 73 sq m ( 785 sq ft)

(Given the size of some of the apartments in the scheme, there may be potential to reconfigure the existing scheme to provide additional apartments, subject to planning and any other statutory consents - prospective purchasers should make their own enquiries in this regard).

Total Income (including new Leases to be taken for Units 3 & 4 upon completion) £30,123.84 per annum NAV

Plans of the proposed development and copy Planning Permission can be provided upon request.

Commercial rate in £ 2010/11 = £0.562749 Domestic rate in £ 2010/11 = £0.00657

SITE AREA

Planning Permission was granted on 11th June 2009 for the erection of 15 no. apartments with ground floor retail use (Planning Ref: Z/2008/2239/F).

Based on measurements calculated from Ordnance Survey Online Maps we have calculated the total site area to be approx. 0.0465 hectares (0.115 acres). The attached site plan shows the approximate boundaries of the site delineated in red (purchasers are advised to satisfy themselves on the site boundaries, dimensions and site areas prior to relying upon this information and prior to commitment to purchase).

www.mckibbin.co.uk

TITLE

Assumed Freehold or Long Leasehold subject to a nominal ground rent.

VAT

The property is not registered for Value Added Tax.

PRICE

Offers invited in the region of £550,000.

VIEWING

By appointment with McKibbin Tel: Contact: Email:

02890 500 100 Michael Fitzell [email protected] McKIBBIN COMMERCIAL PROPERTY CONSULTANTS

CHARTERED SURVEYORS

Callender House 58-60 Upper Arthur Street Belfast BT1 4GJ Tel 02890 500 100 Fax 02890 500 101 email [email protected]