Attractive Investment Opportunity
An excellent opportunity exists to acquire an investment property on the Ormeau Road, one of the main arterial routes in Belfast.
The mid-terrace property is situated within a prominent and well established retail parade in this affluent residential suburb, close to Forestside Shopping Centre and approximately 2 miles from the City Centre.
Neighbouring occupiers include McQuoids Estate Agents, Sloans Gas Energy Centre and Rooms Bespoke Furniture.
The property of traditional construction, is arranged over 3 floors, providing a ground floor café whilst the upper floors, benefitting from separate access, provides office accommodation with ancillary kitchen and WC/shower facilities.
The café with its glazed shopfront is finished internally with plastered/painted walls & ceilings, with feature lighting and terrazzo flooring to the customer seating area with the kitchen and prep area to the rear.
The upper floors are finished to include plastered/painted walls and ceilings and carpeted floors.
The property provides the following approximate Net Internal areas:
Ground Floor Cafe: 494 sqft (45.89 sqm)
1st Floor: 453 sqft (42.08 sqm)
2nd Floor: 275 sqft (25.55 sqm)
Total Area: 1,222 sqft (113.53 sqm)
The property is let to the tenant, trading as Fruit Shop, on a 5 year lease from 1st March 2022 at a rent of £25,000 per annum exclusive, subject to an upwards only rent review on the 3rd anniversary of the lease commencement date.
Full tenancy information is available on request to genuinely interested parties.
Assumed freehold or long leasehold.
£285,000 exclusive, subject to contract.
A purchase at this level would reflect a NIY of c.8.5% after purchase costs of c.3.11%.
We are advised that the property is not elected for VAT.