FOR SALE

RETAIL AND OFFICE INVESTMENT

180–186 LISBURN ROAD

BELFAST

LOCATION

 

The property is located approximately 1.5 miles from the city centre on the Lisburn Road, which is one of the main arterial routes from South Belfast into the City Centre and is considered one of Belfast’s most popular suburban retail/office and restaurant locations.

 

Nearby occupiers include, Tesco, Caffe Nero and Shu Restaurant.

 

DESCRIPTION

 

180 – 186 Lisburn Road comprises 4no red brick 3 storey (plus part basement) terraced properties offering quality restaurant, retail and office accommodation. The property is let producing a gross rental income of £180,780 per annum. (rising to £215,780pa when Basement let at the ERV).

 

TENANCY SCHEDULE

 

180/182 Lisburn Road

Floor Tenant Rent (Gross) Term

Basement Vacant £35,000pa (ERV) –

Ground Floor Ivy & White £22,200pa 5 yrs from 01/04/2022

 

180 Lisburn Road

Floor Tenant Rent (Gross) Term

First Floor The Brow Artisan £4,500pa 3 yrs from 14/11/2023

First Floor Vivo Clinic £4,800pa 1 yr from 01/12/2018

First Floor Hot Sauce Pictures Ltd £5,400pa 1 yr from 01/04/2023

First Floor Declan Curtis £4,200pa 1 yr from 01/02/2023

Second Floor Quinn & McAleer £9,000pa 1 yr 01/08/2018

 

182 Lisburn Road

Floor Tenant Rent (Gross) Term

First Floor Lisa Parry £4,200pa 1 yr from 01/09/2022

First Floor Lisa Kirkwood £5,400pa 1 yr from 14/11/2023

First Floor NYC Nails £4,896pa 6 Months 26/02/2024

First Floor Una Leonard £6,048pa 2 yrs from 01/01/2024

First Floor James Armstrong £4,896pa 2 yrs from 01/02/2024

Second Floor Indaver £15,000pa 1 yr from 01/01/2017

184 Lisburn Road

Floor Tenant Rent (Gross) Term

Ground Floor Fraser Nolan Shutter £16,800pa 1 yr from 01/03/2023

Ground Floor The Clinic £8,400pa 1 yr from 16/12/2022

First Floor Healthy Mind Coaching £3,600pa 1 yr from 27/12/2022

First Floor Bennet Estate Agent £13,500pa 1 yr from 01/01/2023

Second Floor Bradley McClure £10,200pa 5 yrs from 01/05/2018

then month to month

 

186 Lisburn Road

Floor Tenant Rent (Gross) Term

Ground Floor Conor Heaney £12,000pa 3 yrs from 01/07/2021

Ground Floor Patricia Jamshidi £3,600pa 1 yr from 01/12/2022

First Floor Home Instead £12,000pa 2 yrs from 01/01/2022

First Floor Bradley McClure £10,140pa 1 yr from 03/09/2008

 

Current Approximate Landlord Annual Costs

Electricity £2,962

Water £625

Flogas £2,470

Oil £1,525

Rates £5,950

Insurance £2,265

Total £15,797pa

 

ACCOMMODATION

 

The building provides the following net internal areas:

180/182 Lisburn Road Belfast Basement (Restaurant) 2,026 sq ft

Ground Floor (Ivy & White) 1,229 sq ft

180 Lisburn Road Belfast First Floor 629 sq ft

Second Floor 431 sq ft

182 Lisburn Road Belfast Ground Floor 129 sq ft

First Floor 565 sq ft

Second Floor 452 sq ft

184 Lisburn Road Belfast Ground Floor 455 sq ft

First Floor 521 sq ft

Second Floor 610 sq ft

186 Lisburn Road Belfast Ground Floor 529 sq ft

First Floor 593 sq ft

Second Floor 610 sq ft

Total 8,779 sq ft

 

RATES

The NAV of the property are currently assessed as:

Basement 180/182 Lisburn Road £16,500

Ground Floor 180/182 Lisburn Road £9,600

Upper Floors 180 Lisburn Road £8,800

Upper Floors 182 Lisburn Road £10,450

184 Lisburn Road £16,750

186 Lisburn Road £18,800

Sale Details

Price: £1.8m

Title: Freehold or long leasehold subject to a nominal ground rent.

VAT: Prices rentals and outgoings do not include VAT which may be chargeable.

 

VIEWING

Appointments can be made through Campbell Cairns (Tel: 028 9024 9024).

EPC

C66