Excellent Fully Let Retail / Office Investment

LOCATION

The building is situated in a prominent position on High Street, Holywood with its range of shops, coffee shops and restaurants plus extensive housing within walking distance. Neighbouring occupiers include Centra, Mauds Ice Cream, The Yard, Solo Hair, ERSI, Holywood Mortgage Centre and Hooked.

DESCRIPTION

This is an excellent fully let building over 3 floors plus 3 car park spaces. The ground floor is let as a nail bar and is finished to include aluminium double glazed shop front, tiled flooring, suspended ceilings with wall mounted air conditioning unit and CCTV.

The upper floor offices are also well finished to include solid flooring overlaid with carpets, plastered and painted walls, suspended ceilings with recessed and diffused lighting.

ACCOMMODATION

Ground Floor Unit - c.817 sq.ft. (75.9 sq.m.)
plus W.C.

First Floor - c.777 sq.ft. (72.2 sq.m.)
plus W.C.

Second Floor - c.468 sq.ft. (43.5 sq.m.)
plus W.C.

Total accommodation - c.2,062 sq.ft. (191.6 sq.m.)

PRICE
Seeking offers around £450,000 excl.

LEASE DETAILS
Ground floor
Let on a Ten year lease from 1st Dec 2024 at £16,000 p.a. Rising to £17,000 in year 2 and £18,000 in years 3-5.

First and Second floors
Let at £11,000 p.a.
Tenant is overholding.
ERV £14,000 p.a.

A sale at the ERV would give give an attractive NIY of c.7% allowing for standard purchaser's costs.

TITLE
Assumed Freehold/Long Leasehold

VAT
The property is not registered for VAT, so VAT is not chargeable on the sale price.

RATES
133a (Ground Floor) NAV £17,100
133b (First Floor) NAV £7,850
133c (Second Floor) NAV £3,550

EPC
C-69 

VIEWING
By appointment with Sole Agent 028 9131 3830