Strabane Shopping Park, Main Street, Strabane, BT82 8EW
For Sale Offers invited in the region of £3,285,000 Convert to EUR
|Property Type:||Investment||Price:||Offers invited in the region of £3,285,000 Convert to EUR|
|Bedrooms:||-||Offer Status:||For Sale|
For more information on this property call 028 9043 8555 or Email Agent
- Strabane is located 16 miles south west of London erry and 2 miles from the Republic of Ireland border
- Forms part of a larger retail cluster which provides the main retailing facilities in Strabane
- Open Class 1 Shopping Park, developed in 2006 comprising 23,317 sq ft and benefiting from 110 car park spaces
- 100% occupied with tenants including Argos, New Look, Peacocks and Menarys
- 65.6% income is secured against “very low risk” Experian ratings
- WAULT: 4.36 years to break, 4.97 years to expiry
- Asset Management opportunities to regear leases and construct pods, subject to planning
- Low rent varying from £11.31 psf to 12.36 psf
- Current rent £280,000 per annum, considered revisionary to £314,750 per annum
- We are instructed to seek offers in excess of £3,285,000 (Three Million, Two Hundred and Eighty Five Thousand Pounds). A purchase at this level reflects a net initial yield of 8.00% reversionary yield of 9.00% and an equivalent yield of 8.67% after allowing for acquisition costs at 6.48%
Developed in 2006 the property comprises 23,317 sq ft of modern purpose build retail warehouse accommodation. The park comprises 4 units, all benefiting from mezzanine floors, with access via Main Street. There is a separate service access to the scheme. The park provides for 110 car park spaces (ratio of 1:212) and the total site measures c.1.73 acres.
Location of Strabane Shopping Park, Strabane
Strabane is a strong market town located to the west of Northern Ireland approximately 18 miles north west of Omagh and 16 miles south west of Derry City. The park is situated to the west of Strabane town centre adjacent to the A5 Derry/Omagh Road. Immediately adjacent to the subject property is Lesley Retail Park with retailers represented including Sports Direct, Poundland and Poundstretcher. On the other side of the road is a 65,000 sq ft ASDA. The subject park benefits from excellent prominence and road visibility. The property is located less than 2 miles from the Republic of Ireland and consequently benefits from a high level of cross border retail trade.
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