Excellent City Centre Redevelopment Opportunity (subject to planning)
Belfast is the capital city of Northern Ireland with a population of c. 635,000 and a catchment in excess of 1.0m persons. The city is located approximately 100 miles north of Dublin, 75 miles southeast of Derry-Londonderry and benefits from excellent air, road and rail transport links, being served by two airports within a short drivetime whilst there is a direct rail link to Dublin.
The subject property is situated in the heart of the City Centre just off Castle Street and approximately 200m from the prime retail core of Donegall Place, Castle Place and Royal Avenue.
The surrounding locality provides a vibrant mix of retailers, offices, cafes, bars & restaurants including Mourne Seafood and Kellys Cellars at Bank Square, whilst Primark and CastleCourt shopping centre are in close proximity.
The subject property comprises a former warehouse premises of traditional red brick and steel construction with a pitched roof and concrete floor. It benefits from frontage onto both Chapel Lane and Marquis Street, with the access from Chapel Lane via a roller shutter leading to a small enclosed yard area.
The property provides an approximate gross internal area of 5,961 sq.ft. (554 sqm).
It occupies a site area of approximately 0.168 acres (0.068 ha).
Under the Belfast Metropolitan Area Plan 2015, the property is situated within the development limit for Belfast City Centre and is designated as being within the 'Primary Retail Core' and the city centre conservation area.
The property would lend itself to redevelopment for a variety of uses, subject to planning.
Interested parties are advised to make their own enquiries directly with the local planning office.
We are advised the property is Freehold.
Part of the property is held under lease by NIE for a term of 999 years from 28th March 2001 at a nominal rent, for use as an electricity substation.
We are instructed to seek offers in excess of £350,000 exclusive, subject to contract.
We are advised that the property is not elected for VAT.