Shore Road Retail Park, Shore Road, Newtownabbey, BT36 7BS

From

£5,150,000

Typical Mortgage

per month

Investment

Contact Agent

CBRE | NI

Video

Description & Features

Belfast, the capital of Northern Ireland is the 12th largest city in the United Kingdom and the 2nd largest on the island of Ireland.
Newtownabbey is an important regional centre within the context of Northern Ireland.
Surrounded by a number of other schemes including Longwood Retail Park, Abbey Retail Park, Abbey Trading Centre, Abbey Shopping Centre, Starplan Retail Park and Valley Retail Park.
The property comprises 3 retail units set across 1 parade and 1 standalone unit.
The property benefits from part open (non-food) and part bulky planning consent.
Let to multinational occupiers including Pure Gym, Dunelm and Dulux.
Leased at a gross rent of £460,750 per annum and a net rent of £458,176 per annum.
The retail park extends to 49,102 sq ft.
Free surface car parking for c.179 vehicles.
99% of the income is secured against tenants with a CreditSafe rating of ‘Very Low Risk’.
The property has an excellent WAULT of 7.42 years to expiry and 4.58 years term certain.
The property sits on a site of 2.9 acres.

The property comprises 3 retail units extending to 49,102 sq ft in total set across 1 parade and 1 standalone unit.

The scheme is anchored by a 27,787 sq ft Dunelm and a 16,238 sq ft Pure Gym. The standalone unit which was constructed in 2016 provides 5,077 sq ft and is occupied by Dulux.

All of the units are of steel portal frame construction with part brick / part aluminium cladding and glazed shop fronts. All the accommodation has been fitted out to each tenants’ fittings and branding. Units 1-4 have a rear service yard which is accessed from Mill Road.

Customer access and egress is excellent with vehicular access directly from Shore Road near its junction with Mill Road. The park provides c.179 free surface car parking spaces with a ratio of 1:274 sq ft.

The total site measures 2.9 acres (1.17 ha) and is broadly flat in topography.

Housing Tenure

Type of Tenure

Not Provided

Location of Shore Road Retail Park

Shore Road Retail Park is situated adjacent to Longwood Retail Park in Newtownabbey approximately 4 miles north of Belfast. The scheme is strategically located adjacent to Junction 2 on the M2 Motorway with access directly from the Shore Road. The current catchment population for Newtownabbey is estimated at 950,000 within a 30-minute drive-time (source: CACI, 2022). Newtownabbey is an important regional centre within the context of Northern Ireland with a broad retail offering within Abbey Shopping Centre and the surrounding retail warehouse parks. Retailers represented include Tesco, Marks & Spencer, Primark, B&Q, Matalan, TK Maxx, Currys, Lidl, Go Outdoors, Boots, B&M Bargains and Argos extending to in excess of 1 million sq ft.

Expand