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.
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.
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
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
Freehold or long leasehold subject to a nominal ground rent
A purchase at the asking price of £167,500 shows an net initial yield of over 9% assuming purchaser’s costs of 1.96%
Prices, outgoings and rent do not include VAT which may be chargeable.
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.
Strictly by appointment Campbell Cairns (Tel: 028 9024 9024)