Laharna Retail Park, Larne, BT40 1HR

For Sale Offers invited in the region of £5,780,000 Convert to EUR

Key Information

Property Type: Investment Price: Offers invited in the region of £5,780,000 Convert to EUR
Bedrooms: - Offer Status: For Sale
Receptions: - EPC Rating: -

For more information on this property call 028 9043 8555 or Email Agent

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The Linenhall, Belfast, BT2 8BG

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    Property Description

    • Larne is located 21 miles north of Belfast and 18 miles from Antrim
    • Open Class 1 Retail Park, developed in 2003
    • 191 car park spaces
    • 100% occupied with tenants including Argos, New Look, Peacocks, B&M and Carphone Warehouse
    • 53.6% income is secured against “very low risk” Experian ratings
    • Low base rents
    • Current Income £493,071 per annum
    • We are instructed to seek offers in excessof £5,780,000 (Five Million, Seven Hundred and Eighty Thousand Pounds).  A purchase at this level reflects a net initial yield of 8.00% after allowing for acquisition costs at 6.62%

    Developed in 2003 the property comprises 47,883 sqft of modern purpose build retail warehouse accommodation.  The units are of steel portal frame construction with mixed block/clad walls incorporating feature glazed shop fronts / entrances to individual units with concrete floors and metal roof decking. The scheme also benefits from a pedestrian access from Main Street. The park comprises 10 retail units of which 3 benefit from mezzanines together with first floor Bingo hall. The park provides for 191 car park spaces (ratio 1: 253) and the total site measures c.3 acres.

    Location of Laharna Retail Park, Larne

    Larne is located approximately 21 miles north of Belfast City Centre and is one of Northern Ireland"s most significant ports with good volumes of passenger and freight traffic flows. Larne provides regular crossings to Cairnryan. The property occupies an extremly prominent position in the town centre with easy access from the main retailing throughfare, Main Street via Quay Street and Broadway. Immediately adjacent to the scheme is a Lidl unit (which benefits from rights over the carpark) Immediately adjacent to the property is the Department of the Environment operated pay and display car park and provides a pedestrian link to the adjoining Broadway linking to Main Street, which is the town"s main retail thoroughfare. Major tenants in Larne Town Centre include Iceland, Dunnes Stores, Dorothy Perkins, Birthdays and Bon Marche. The town is also easily accessible via Belfast International Airport located 23 miles to the south west.

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