Location

University Road links the Malone Road to Bradbury Place and Shaftesbury Square. The subject property is located opposite the junction with University Street.

The area is well known for its cafes, pubs, and clubs. In addition to being a short distance from Queens University and its Students Union plus a short distance from a proposed new Tesco Express. As such the property benefits from high passing traffic and footfall.

The property is being sold as an investment and subject to a leases on general Full Repairing and Insuring terms as set out below:

43 University Road Belfast BT7 1ND

A self contained mid terrace building arranged over three floors with part of the second floor over the top of 45 University Road.

The ground and first floor comprise a restaurant, kitchen, preparation space, reception and seating area. The second floor comprises a two bedroom self-contained apartment which can only be accessed via the commercial space making it ideal either for the business owner, manager chef or staff member.

Ground and First floor

The ground floor is currently arranged as restaurant / bar and seating space. It is partially overlooked by a mezzanine.

The main first floor provides WC’s and some private dining creating a unique restaurant experience.

The space currently seats around 54 people on the ground and mezzanine floor. The kitchen area is split between the ground floor and first floor with acess via a staff only staircase.

The ground floor kitchen is the main cooking area with some storage space. The first floor can provide either further cooking space, preparation area, and storage. It also benefits from asmall staff WC and wash Hand basin.

Accommodation has been measured as follows: -

Ground Floor seating / bar – 60.62sq.m / 652sq.ft. First floor mezzanine – 3.32sq.m / 35sq.ft. Ground floor kitchen – 17.71sq.m / 384sq.ft. First floor kitchen / prep area – 16.64sq.m / 179sq.ft First floor seating – 17.89sq.m / 192sq.ft. Second floor – two bedrooms, living room, bathroom and kitchen. This residential accommodation has its own gas central heating and electric supply. Total – 133.96sq.m / 1,442sq.ft.

Lease is taken on assignment and currently trading as Holouhans.

Term – 11 years from 1st November 2010 Expiry – 31st October 2021 Rent – £10,000 per annum exclusive Repairs – The tenant is responsible for internal and external repairs Buildings Insurance – Landlord insures and Tenant reimburses

The tenant is a limited company.

45 University Road Belfast BT7 1ND

Self contained

Term – 4 years and 354 days from 12th August 2013 Expiry – 1st August 2018 Rent – £12,000.00 per annum exclusive Repairs – The tenant is responsible for internal and external repairs. Building Insurance – Landlord insures and Tenant reimburses Break Clause – The lease contains a tenant only option to determine the lease at the end of the third year subject to 9 months written notice time of the essence.

The tenant is an individual trading as Windrush café

We have measured the property and calculate the following areas:

Ground Floor – 66.99 sq.m / 721sq.ft First Floor – 27.53sq.m / 296 sq.ft Total – 94.52sq.m / 1018

47 University Road Belfast BT7 1ND

Term – 4 years from 1997 Tenant currently holding over. Expiry – Tenant holding over Rent – £12,000.00 per annum exclusive Repairs – The tenant is responsible for internal and external repairs and maintenance. Buildings Insurance – Landlord insures and Tenant reimburses. The tenant is an individual trading as ‘Bookfinders’.

The areas as measured: -

Shop – 34.46sq.m / 371sq.ft. Café Area to front – 18.30sq.m / 197sq.ft Kitchen – 7.80sq.m / 84sq.ft. Food preparation area – 5.01sq.m / 54sq.ft. Café Area to rear – 7.80sq.m / 84sq.ft. 1st Floor – Two WC’s Storage – 14.77sq.m / 159 sq.ft.

We are also aware of further storage space however this was not accessible it should be noted that due to the volume of books and storage space these areas should not be relied upon and potential purchasers are advised to satisfy themselves.

Total measured circa – 88.16sq.m / 949sq.ft.

The sale also includes a small parcel of ground rents from 33 University Road to 49 University Road which has a total income of £600 per annum broken down as below:

Annual ground rent payable

33 University Road – £150.00 35 University Road – £75.00 37 University Road – £75.00 39-41 University Road – £150.00 49 University Road – £150.00

The overall investment is generating a gross income of some £34,600.00 per annum exclusive. Therefore a sale at the asking price of £575,000.00 would represent a gross yield of 6%.

Any interested parties should not hesitate to contact us.