SOLD
2a Portaferry Road
Newtownards
BT23 8NN
Prime Commercial Investment
The property comprises a beautifully refurbished old Mill building set in the heart of Newtownards, a busy market town serving the Ards Peninsula and only 10 miles from Belfast.
The property includes excellent parking provision and is fully fitted out for occupation by the tenant, Vets4Pets.
- Recently refurbished building
- Rent £32,500 p.a.; 15 year lease from 25 April 2017
- Fixed 10% uplifts on review
- Rent guaranteed by prime covenant
ACCOMMODATION
The unit has a gross internal floor area of approx. 2,000 sq.ft.
Viewing: By appointment +44 (0)28 9042 4747
Click here to download a pdf brochure
LEASE
Tenant: Newtownards Vets4Pets Limited
Lease: 15 years from 25 April 2017
Rent: £32,500 per annum
Rent Free: 6 months from 25 April 2017
Rent Reviews: 5 yearly; fixed 10% uplifts on review
Other: F.R.I. terms
Guarantor: Companion Care (Services) Ltd
Copy of lease available to genuinely interested parties.
GUARANTOR
The guarantor of the lease is Companion Care (Services) Ltd, a wholly owned subsidiary of Vets4Pets Ltd, who are part of the Pets at Home plc group. For the year ending 31 March 2016, the accounts for Companion Care (Services) Ltd show a turnover in excess of £28m with a net profit after tax in excess of £10m and a net worth of some £31m.
Potential purchasers should make their own enquiries.
PRICE: Offers in the region of £475,000
VAT: Applicable to the above
EPC: To be confirmed