** PRICE REDUCED **
Part Let Investment – Ground Floor Retail with Upper Floor Offices
23 Donegall Road
The subject property is located on the Donegall Road, Belfast on a prominent corner site at its junction with Wesley Street, in close proximity to Shaftsbury Square and Bradbury Place. Neighbouring occupiers includes: Kensington Group Practice Doctors Surgery, Allens Furniture, Allens Tours, KFC, Oasis Gaming and Brooklyn Square Restaurant.
The subject is a former ground floor opticians arranged as front retail/ showroom with rear private surgery/office plus kitchen dock under the stairs and separate W.C. There is also access to a shared garage.
The ground floor retail has air conditioning and underfloor heating. The building itself has oil fired central heating and a Zoned alarm system.
First and Second Floors are accessed via a separate side entrance. Part of the first floor and all of the second floor is occupied by Escape Belfast as gaming space. It is finished to include solid floor overlaid with carpet, plastered and painted walls and double glazed windows.
Viewing by appointment with Sole Agent 028 9042 4747
Retail/Former Opticians c.377 sq.ft. (34.9 sq.m.)
Garage/Store c.114 sq.ft. (10.6 sq.m.)
First Floor: Offices Vacant c.173 sq.ft. (16.1 sq.m.)
Offices Let c.269 sq.ft. (25 sq.m.)
Second Floor: Offices Let c.317 sq.ft. (29.4 sq.m.)
Kitchen c.79 sq.ft. (7.4 sq.m.)
Total Accommodation c.1,329 sq.ft. (123.4 sq.m.)
Price: Offers in the region of £150,000 exclusiveVAT
The building is registered for VAT therefore VAT is chargeable on the Rent and Service Charge.
Ground and Part First Floor £2,550
Part First Floor- Front £1,800
Second Floor £1,650
Prospective purchasers are advised to make their own enquiries
Part First Floor and all Second Floor Offices Let on a Three Year Lease from 1st Aug 2016 at a current passing rent of £5,250 pa. and renewed for a further one year.
The vacant space is currently available at a quoting rent of £7,200 pa, giving a total ERV for the building of £12,450. A sale at £175,000 would give a Net Initial Yield of c 7% allowing for standard purchasers costs of c 2.1% or an attractive capital value of c £130 per sq.ft.