Lagan House, 75-81 Victoria Street, Belfast, BT1 4PA

Description

COMMERCIAL PREMISES

 SHORT TERM INVESTMENT WITH CONSIDERABLE DEVELOPMENT POTENTIAL

LOCATION

The property occupies a prominent corner position at Victoria Street and Ann Street adjacent to the major retail development at Victoria Square.

This area is undergoing considerable capital reinvestment and will become a major commercial destination.

Lagan House offers an opportunity to developers to provide an innovative project in urban living, leisure, retail or commerce on a site which could host a landmark building in a prime city gateway position.

DESCRIPTION

The property presently comprises a four storey building, refurbished in the 1980’s and which extends to c. 21,000 sq ft (gross) with private car park accessed from Church Lane. The total site area extends to 0.21 acres.

LEASES

The original leases have all now expired and the tenants are presently ‘holding over’ on a short term basis and which can be determined by either party after November 2007, by way of one quarter’s notice.

TITLE

Head Leases

1.   10,000 years from 1 August 1995. Ground Rent £400 per annum.
2.   Fee Farm Grant from 9 October 1815. Ground Rent £51.50 per annum.
3 .   9,900 years from 7 July 1991. Ground Rent £100 per annum.

Full details of head leases and all Rights of Way to be confirmed.

STAMP DUTY

The purchaser will be liable for Stamp Duty/and tax on the purchase price

VAT

All prices/rents quoted will be subject to payment of Value Added Tax.

PRICE

Offers are invited in excess of £5 million

CONTACT

Denis Myles, Dip Prop Inv. FRICS MCI. Arb. MEWI

Audrey McStraw, Msc Bsc(Hons) MRICS

Tel:      028 9032 4080
Fax:     028 9032 6366
E-mail: denis@mylesdanker.com
           audrey@mylesdanker.com

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