LOCATION

Lisburn is a city situated approximately 10 miles south of Belfast and forms part of the Greater Belfast conurbation. Chapel Hill runs east from Longstone Street towards Bow Street. The subject property is located c. 50m from the entrance to Bow Street Mall with nearby occupiers including Ladbrokes, Poundland and Greggs.

 

DESCRIPTION

The property comprises a modern two storey building which was built approximately 15 years ago. The ground floor is mainly used as open plan offices, plus staff facilities. There is a passenger lift and staircase to the first floor which is mainly used as offices.

 

ACCOMMODATION

Ground Floor      1487 sq ft       138.14 sq m

First Floor           1419 sq ft       131.82 sq m

Total                   2906 sq ft      269.96 sq m

 

LEASE DETAILS

Tenant: Premier Employment Group Limited

 

Rent: £15,500 per annum exclusive

 

Term: 5 years from 30th April 2019

 

Break Option: Tenant break option at the end of the 3rd year subject to 6 months written notice

 

Repairs/Insurance: Full repairing and insuring terms limited by a Schedule of Condition

 

TITLE

Freehold or long leasehold subject to a nominal ground rent

 

PRICE

£167,500

 

YIELD

A purchase at the asking price of £167,500 shows an net initial yield of over 9% assuming purchaser’s costs of 1.96%

 

VAT

Prices, outgoings and rent do not include VAT which may be chargeable.

 

NAV

We have been advised by Land and Property Services that the NAV of the property is £19,400. Rate poundage for 2019/2020 is £0.566772.

 

VIEWING

Strictly by appointment Campbell Cairns (Tel: 028 9024 9024)

 

EPC

B46

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