RETAIL INVESTMENT OPPORTUNITY
4 BOW STREET
• Property investment opportunity situated in the heart of Lisburn City Centre
• Let to Hays Travel Ltd on a 10 year lease from 20 December 2019 at a current annual rent of £26,700pax rising to £29,000pax in December 2022.
• Hays Travel is the largest independent travel retailer in the UK operating for 40 years.
• Lisburn is strategically located on the Belfast – Dublin corridor and accordingly is well served by major road (M1) and rail networks.
• Bow Street is recognised as the City’s prime retailing pitch; it is a pedestrianised street linking Market Square and Bow Street Mall.
• Nearby occupiers on Bow Street include Tesco Express, Boots, Specsavers, Holland & Barrett and B&M.
The property comprises a mid terraced 2 storey building benefitting from a frontage to Bow Street of c19 ft (5.8m). The ground floor is used for sales purposes whilst the first floor provides ancillary storage and staff accommodation.
Ground Floor 1091 sq ft 101.35 sq m
First Floor 230 sq ft 21.37 sq m
• The property is let in its entirety to Hays Travel Ltd on a 10 year lease from 20 December 2019 at £26,700pax rising to £29,000pax on 20 December 2022.
• The lease is subject to an upward rent review and tenant break
option at 20 December 2024.
• Repair – Tenant responsible for internal repair. Landlord responsible for repairing, maintaining, and decorating the structure, foundations and exterior of the property.
A copy of the lease is available upon request.
We are advised by Land and Property Services of the following
NAV – £14,000. Rate poundage Lisburn & Castlereagh 2021/22 –
£0.505616. Rates payable – £7,078.62.
Title – Freehold or long leasehold subject to a nominal ground rent.
Price – Offers over £325,000
At £325,000 the net initial yield is 7.95% with a reversionary yield of
8.64% in December 2022; assuming purchaser’s costs of 3.27%.
We are advised the property is not registered for VAT.
Strictly by appointment through Campbell Cairns.
Jeremy Cairns – firstname.lastname@example.org or Mobile 07803 722 899
Emily Law – email@example.com or Mobile 07703 809 256