11-13 Market Street, Omagh, BT78 1EE

Offers invited in the region of

£4,885,000

Typical Mortgage

per month

Investment

Contact Agent

CBRE | NI

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Description & Features

The subject property is a three-storey building of modern construction which is utilised for retail purposes.

The building is arranged to provide two retail units, of which the largest let to Primark Stores Limited has frontage onto and is accessed directly from Market Street.

The second unit which is let to Musgrave Retail Partners NI (trading as Supervalu) benefits from three entrances. The main entrance to the supermarket is via the Market Street car park, with the secondary entrances permitting access from Market Street and Scarffe’s Entry.

The units comprise of retail space and ancillary accommodation. There is a service yard situated to the rear of the property which is accessed via Market Road.

Omagh is an important provincial market town and the county town of County Tyrone. It is located approximately 68 miles west of Belfast and 33 miles south of Derry-Londonderry.
The towns catchment is strengthened by its close proximity to the Republic of Ireland (Donegal town 40 miles and Letterkenny 36 miles respectively) and benefits from cross border trade.
The subject is situated in a prominent position on Market Street in Omagh town centre.
Market Street is the prime retail location within the town centre and therefore benefits from a high level of pedestrian and vehicular footfall.
The property comprises 2 high street retail units extending to 69,104 sq ft situated over 3 floors.
Let in its entirety to Primark Stores Limited and Musgrave Retail Partners NI Limited t/a SuperValu.
Passing rent of £470,000 per annum.
The investment provides a WAULT of 6.16 years term certain and 11.25 years to lease expiry.
100% of the income is secured against tenants with a CreditSafe rating of ‘Very Low Risk’.
We understand the property is held Freehold.

Housing Tenure

Type of Tenure

Freehold

Location of 11-13 Market Street

The subject is situated in a prominent position on Market Street in Omagh town centre. Market Street is the prime retail location within the town centre and therefore benefits from a high level of pedestrian and vehicular footfall. The property lies 0.3 miles to the north of the Great Northern Road (A5) which is the main road from Derry-Londonderry to Aughnacloy. Market Street Car Park is situated immediately adjacent to the main entrance to the Supervalu. The surrounding retailers in the area include Superdrug, Hays Travel, SD Kells, Specsavers, Danske Bank, Boots and Card Factory.

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