For Sale

Prime City Centre

Office Investment

Opportunity

29—31

Montgomery Street

Belfast, BT1 4NX

 

Montgomery House

 

Investment summary

 

Unique opportunity to acquire a landmark office building of 34,426sqft in the heart of Belfast City Centre

 

Modern Grade A building with on-site parking for 10 cars with

an NCP multi-storey adjoining

 

Strong tenant line-up to include Quilter Cheviot, Eversheds Sutherland, TLT, BTI Systems, and DAC Beachcroft

 

Current income £682,339 per annum

 

Attractive initial yield of 7.10% reverting to 7.81% on ERVs

 

Price: £9.0m

 

Title: Long leasehold subject to a peppercorn rent

Yield: A purchase at the asking price of £9.0m will show a net initial yield of 7.1%, net of standard purchasers costs of 6.63%, and a reversionary yield to ERVs of 7.81%

 

VAT/TOGC: The building is elected for VAT however we expect the sale of the property to be treated as a TOGC

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