Seaside Sale

13 December 2013

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The high profile sale of the freehold of the Tesco Supermarket in the seaside town of Portstewart this week is a promising sign that the market for good investment properties in Northern Ireland is growing.

Acting on behalf of a local investor DTZ McCombe Pierce recently sold the freehold of the Tesco Supermarket at 164 Coleraine Road, Portstewart to a local private property company for a consideration of £2.6 million.

The property is let on a 15 year lease to Tesco subject to 5 yearly upward only rent reviews at a current rent of £197,373 per annum. Michael Pierce from DTZ McCombe Pierce added,  “This was an excellent opportunity for a local investor to secure a well let property that will generate a good return in the future.”

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