Property Highlights

Prominent retail investment in Newtownards town centre

Fully let producing £36,600 per annum exclusive

Offers over £400,000 exclusive



Location

The property occupies a highly prominent position on High Street in Newtownards town centre on the prime retail pitch opposite Conway Square and adjacent to a pedestrian

crossing. Occupiers in the vicinity include Caffe Nero, Carnduff Butchers, Thomas Orr, Little Wing Pizzeria, Savers, Sally Beauty and Wardens.

There is on street parking along High Street and a concentration of parking to the front of Conway Square, opposite the subject. There is also a public surface car park on Mill Street in close proximity to the subject.



Description

The subject comprises 2 no. two storey adjoining mid-terrace retail units with a large external area to the rear accessed adjacent to the Santander unit providing designated car parking for both tenants.

The units are fitted to each occupier's corporate specification with upper floor office / storage accommodation.



Areas

The net internal areas of the subject units are as follows:

Demise Floor Sq M Sq Ft

Unit 3

Ground 71.16 Sq M 766 Sq Ft

First 8.08 Sq M 87 Sq Ft

Unit 4

Ground 74.79 Sq M 805 Sq Ft

First 64.85 Sq M 698 Sq Ft

Total 218.88 Sq M 2,356 Sq Ft



Tenancy

Details of the occupational tenancy agreements are as follows:



Simon Brien Residential LLP : Unit 3 15/19 High Street : Lease Start 01/05/17 : Lease End 30/04/27 : Break Option n/a : Rent £18,000



Santander UK PLC : Unit 4 15/19 High Street : Lease Start 01/06/22 : Lease End 31/05/27 : Break Option 31/05/25 : Rent £18,000



Santander UK PLC : 2 no. Car Parking Spaces : Lease Start 01/06/22 : Lease End 31/05/27 : Break Option 31/05/25 : Rent £600



Total : £36,600

Copies of leases can be provided upon request.



Non Domestic Rates

Unit 3: We are advised by LPS that the NAV is £9,150, resulting in rates payable for 2024/25 of approx. £5,203, excluding any reliefs that may be applicable.

Unit 4: We are advised by LPS that the NAV is £9,350, resulting in rates payable for 2024/25 of approx. £5,317, excluding any reliefs that may be applicable.



VAT

We are advised that the property is not elected for VAT.



Sales Proposal

We are seeking offers in excess of £400,000 exclusive.