Waterside Tower & North Tower, 31 Clarendon Road, Clarendon Dock, Belfast, Antrim, BT1 3BG
For Sale Offers Over £4,500,000 Convert to EUR
|Property Type:||Investment||Price:||Offers Over £4,500,000 Convert to EUR|
|Bedrooms:||-||Offer Status:||For Sale|
For more information on this property call 028 9027 0000 or Email Agent
Features of this property
- Prominent Office Investment
- Modern Office Buildings c. 42,570 sq ft
- 94 car parking spaces on site
Prominent waterfront office investment situated in Clarendon Dock, Belfast. Modern office buildings constructed in early 2000 totalling c 42,570 sq ft (c 3,955 sq m) and benefitting from 94 car parking spaces on site and within Clarendon Dock. The property currently produces a gross rental income of £422,000 per annum exclusive from Government and strong private sector covenants. Estimated gross rental value £594,825 per annum exclusive. Opportunity for income enhancement upon letting of vacant space comprising of c 13,826 sq ft (c 1,284 sq m).
Offers sought in excess of £4,500,000 exclusive (Four Million Five Hundred Thousand Pounds). A purchase at this level would reflect a net initial yield of 6.69%, a reversionary yield of 11.31%, an equivalent yield of 10.52% and a capital value of c £105 per sq ft. (assuming purchaser’s costs of 6.57%).
Location of Waterside Tower & North Tower, Belfast
The property occupies a secure setting within the Clarendon Dock Business Park which forms part of the Belfast Harbour Estate to the north west of the city centre.
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