Prime mixed use investment opportunity

The property is situated on a prime corner site with dual frontage onto Merchants Quay and Monaghan Street. The accommodation is arranged over 3 levels with a total of two retail units on the ground floor and three serviced apartments on the upper levels. 

Retail unit 1 is currently under lease to Grounded Espresso Bar for a term of 10 years from 16 August 2021. Ground Expresso Bar has been in occupation since 2006 and full lease details can be provided upon request. Retail unit 2 is vacant. 

The property also has the benefit of 3 luxury spacious apartments which were recently refurbished in 2019, with the accommodation offering a stylish modern feel. These apartments are known as ‘Godfrey Mews Apartments’ which is an ode to the adjacent Godfrey Bridge. The apartments offer views over the Newry Canal which is Ireland’s oldest man-made waterway that officially opened in 1742.

The apartments are all 4-star tourist NI certified and present an opportunity to purchase an exciting investment opportunity with a well-established trading reputation. Apartment 1 extends to a total of 1,399 sq. ft and comprises of an open plan kitchen & living area, 2 large double bedrooms (1 with ensuite), bathroom with bath & shower and has the benefit of air conditioning. This apartment can sleep 4 with a current booking charge of £140 per night. Apartment 2 extends to a total of 1,367 sq. ft and  features an open plan kitchen & living area, bathroom with shower,  2 double bedrooms (1 with ensuite) and has the benefit of air conditioning. This apartment is available to book for £150 per night and sleeps a total of 4 people. Apartment 3 extends to a total of 1,065 sq. ft and comprises of an open plan kitchen & living area, bathroom with shower & bath and 2 double bedrooms.  This apartment is available to book for £120 per night. The property is serviced by a lift that allows access to Apartments 1 & 2 and is monitored by 24/7 CCTV. 

This is a unique chance to purchase a highly attractive mixed-use investment opportunity with significant income generating potential. 

Further information can be found here: https://newrycityaccommodation.co.uk/

Location 

Newry is known as ‘The Gateway to the North’ due to the proximity to the border between ROI & NI, offering an unrivalled location. Newry is located about 4.5 miles (7 km) to the north of the border with the Republic of Ireland, 34 miles (55 km) south of Belfast and 66 miles (106 km) north of Dublin. 

The city benefits from excellent transport connections with the A1 connecting Belfast and Dublin located 1.3 miles (2 km) to the west at Junction A25. Newry Railway Station offers direct trains to Belfast with a journey time of about 1 hour. There are also regular, direct services south to Dublin with a journey time of approximately 1 hour 20 minutes. 

The subject property is located on the prime corner of Merchants Quay and Monaghan Street along the Newry Canal. There is ample public service amenities within the immediate vicinity with the Newry Bus Centre located on The Mall street approximately a 3 minutes’ walk away from the property.