Try out the new propertynews.com. Faster and packed with new features.

625 Lisburn Road, Belfast, Antrim, BT9 7GT

For Sale Offers invited in the region of £425,000 Convert to EUR

Key Information

Property Type: Investment Price: Offers invited in the region of £425,000 Convert to EUR
Bedrooms: - Offer Status: For Sale
Receptions: - EPC Rating: 67

For more information on this property call 028 9024 1500 or Email Agent

Contact the Agent

Colliers International

4th Floor, Belfast, BT1 2LD

Call Agent
*
*
*
*

    Features of this property

    • An excellent 3 storey mid-terrace property extending to c. 2,007 sq. ft. fronting onto the Lisburn Road
    • Let on a new 10 year term with a passing rent of £32,000 per annum
    • Offers are invited in the region of £425,000 exclusive, reflecting a NIY of 7.2% after allowing for purchasers costs of 4.3%

    Property Description

    The subject property is an impressive 3 storey mid-terrace property which benefits from a fully glazed shop front at ground floor fronting onto the Lisburn Road.
    The property is currently let t/a The Bake House, a coffee shop/dessert cafe. Utilised as a customer seating / dining area and till / service area with staff WC and kitchen. The second floor comprises customer disabled, Male and Female WC's and a fitted office of c. 528 sq. ft. All floors are served by a lift in addition to the stairs.
    To the rear of the ground floor there is also small storage area.
    Internally the property has been finished to include tiled flooring, plastered and painted walls, air conditioning, extraction system, built in speakers and sound system and CCTV. The property benefits from gas heating.

    ACCOMMODATION
    Ground Floor Sales Area: 775 sq. ft. 72 sq. m.
    Rear Store Area: 75 sq. ft. 6.97 sq. m.
    First Floor Kitchen: 630 sq. ft. 58.6 sq. m.
    Staff W.C.
    Second Floor: Disabled, M & F W.Cs
    Office: 527 sq. ft. 49 sq. m.
    TOTAL: 2,007 sq. ft. 186.46 sq.m.

    LEASE DETAILS
    Tenant: Private individual t/a The Bake House
    Term: New 10 year lease from July 2017
    Break Option: Break option on the fifth anniversary of the lease
    Rent: £32,000 p.a.x.
    Rent Review: 5 yearly upward only rent review
    Repairs: Full repairing and insuring terms

    RATEABLE VALUE
    We have been advised by Land & Property Services of the following:
    Net Annual Value: £21,800
    Rate in the £ 2017/2018: £0.592681
    Estimated Rates Payable: £12,920

    VAT
    We are advised that the property is VAT registered and therefore VAT will be charged on the sale. However, it is possible that the sale could be treated as a transfer of a going concern (TOGC).

    PRICE
    Offers are invited in the region of £425,000 exclusive of VAT. A sale at this level would reflect a NIY of 7.2% after allowing for purchasers costs of 4.3%.
    This reflects a Capital Value of £212 per sq. ft

    EPC
    C67. As illustrated in graph.

    TITLE
    The subject property is held Longlease Hold by way of a 9,000 year ground lease from 02/06/1919. The passing annual ground rent equates to £7 per annum.

    FURTHER INFORMATION
    For further information or to arrange an inspection of the property, please contact:
    Contact: Andrew Lennon or William Knox
    Tel: 028 9024 1500
    Email: andrew.lennon@colliers.com or william.knox@colliers.com

    Location of 625 Lisburn Road, Belfast

    The property occupies a prominent location on the Lisburn Road in South Belfast which is one of the busiest arterial routes to and from Belfast City Centre. The Lisburn Road would be regarded as Belfast's premier suburban retail, leisure and office location and is home to a host of fashion, showroom and restaurant/café occupiers. The property is situated approximately 2.5 miles from Belfast City Centre and is in close proximity to Queens University, Belfast City Hospital and is easily accessible from the West Link and M1. The property occupies a prime position fronting the Lisburn Road with surrounding occupiers including Springsteen's, Swanton's gourmet foods, cargoes Café, The Albany and Chelsea bars and Bank of Ireland.

    🔎View Map

    Contact the Agent

    Colliers International

    Property Views

    Total views on propertynews.com:

    240

    How much will it cost?

    years

    Mortgage

    -

    Payments

    -

    Monthly

    -

    The calculations are for information purposes only, and should not be taken as a direct indicator of your mortgage repayments or all the details you need to choose a mortgage. Terms and conditions may apply.

    Other costs to budget for

    Wilson Nesbitt Solicitors
    Wilson Nesbitt Solicitors

    Get a free property legal expenses quotation

    CuCompare
    CuCompare

    Compare estate agents’ services and fees, instantly. It’s EASY and its FREE - No more phone calls! Your free valuation is just a click away. Cucompare - N. Irelands Agent & Mortgage Comparison Site.

    Similar Properties

    Lisburn Road, Belfast

    From £475,000

    397 Lisburn Road, Belfast

    Offers Over £375,000

    1 Millennium Way, Belfast

    Offers in the region of £475,000

    Enhance your property

    Part of the Independent News and Media group