For Sale

Marlborough House, 28-32 Victoria Street, Belfast, BT1 3GG

Offers in the region of

£3,000,000

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Office
G 164
EPC Rating

Location of Marlborough House

Belfast is the capital of Northern Ireland and the second largest city on the island of Ireland. The city has a population of 739,000 within its primary catchment area. Belfast is approximately 103 miles north of Dublin and 75 miles southeast of Derry/Londonderry. Belfast has excellent communication links with the rest of the province via the M1 & M2 motorways. The property occupies a prominent site in a busy location in Belfast City Centre; it is bound by Victoria Street, Marlborough Street and Princes Street. Victoria Street benefits from high volumes of traffic as it is a busy route connecting the city centre to the north and east of the city. The property is located adjacent to the Malmaison Hotel and in close vicinity to Custom House Square.

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  • features
  • description

features

  • Belfast, the capital of Northern Ireland is the 12th largest city in the United Kingdom, in terms of population.
  • The property occupies a prominent site in a busy location in Belfast City Centre; it is bound by Victoria Street, Marlborough Street and Princes Street.
  • Victoria Street benefits from high volumes of traffic as it is a main thoroughfare connecting the city centre to the north and east of the city.
  • The property is located adjacent to the Malmaison Hotel and in close vicinity to Custom House Square.
  • The Belfast office market has been buoyant in recent years with headline rents for Grade A accommodation in the region of £23.00 per sq. ft.
  • The property comprises of a six storey office block extending to 25,252 sq ft let to Tughan & Co.
  • The opportunity also includes three unoccupied buildings to the rear including a Grade B2 listed warehouse (Reference: HB26/50/194).
  • The office is let to the partners of Tughans Solicitors until the 15th November 2021 at a current passing rent of £309,291 per annum.
  • There are two separate license agreements in place for additional car parking spaces at a total of £25,000 per annum.
  • The overall site area is approximately 0.44 acres.
  • The rear portion of the site (0.22 acres) has the potential to be a development site.
  • This rear portion incorporates the listed warehouse, a small derelict apartment block and derelict offices with undercroft and external car parking.
  • The property is held part freehold and part long leasehold.
  • We are instructed to seek offers in excess of £3,000,000 (Three Million Pounds Sterling) for our clients freehold/long leasehold interest, excluding VAT.
  • This reflects a net initial yield of 10.46% after 6.45% purchasers costs and an attractive capital value of £118 per sq ft.

description

The subject is a six storey property extending to 25,252 sq ft and has office accommodation on all floors. The office accommodation is finished internally to a grade B standard to include suspended ceilings, recessed fluorescent strip lighting, plastered and painted walls, carpeted floors, electric heating and cooling, aluminium double glazed windows and a passenger lift.

There are 3 unoccupied buildings located to the rear to include a Grade B2 listed warehouse (Reference: HB26/50/194), a small derelict apartment block and derelict offices with undercroft and external car parking.

Property Costs

  • Status: For Sale
  • Offers in the region of£3,000,000
  • Stamp Duty: £0*

* Stamp duty rates provided as a guide only. Additional charges may apply. Please refer to the tax service's website for more information.

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