Lisburn, which was awarded City status in 2002, is located approximately 10 miles south-west of Belfast city centre and is part of the Belfast Metropolitan Area. The city has excellent transport connections, situated close to the motorway network and direct road and rail links to Belfast and Dublin.
Lisburn has a strong retail core with a traditional pedestrianised high street of Bow Street, complemented by the extensive Bow Street Mall which is anchored by Primark.
In addition, the area’s retail offering is further supplemented by the nearby Sprucefield Development with occupiers including Marks & Spencer, Sainsbury’s and B&Q. The property is located in a prominent position along the pedestrianised portion of Bow Street, within the main retail core close to the junction with Antrim Street. The surrounding area is predominantly retail with nearby occupiers including Tesco Express, Boots, Caffe Nero and Waterstones.
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Let to Poundstretcher Limited
c. 8,874 sq ft (824.38 sq m)
The property is occupied by Poundstretcher Limited and comprises a ground floor retail unit with store and office space and first floor ancillary storage space (accessed via ladder).
The property comprises a large open plan ground floor sales area with glazed frontage and secured by electric roller shutter doors. The current tenant has completed a high quality fit-out to the unit.
The property has the benefit of an enclosed, secure service yard to the rear.
Tenancy Tenant: Poundstretcher Limited Term: 5 years from 8 December 2020 Passing Rent: £50,000 per annum exclusive. Repairs: Full Repairing and Insuring Lease Title and Lease Details: Available on request
Tenancy Covenant Poundstretcher is a well-known variety discount chain retailing a variety of food, toiletries, garden essentials, and home-ware brands. Poundstretcher are currently progressing plans to open a further 50 new stores across the UK in 2021. (Source: www.poundstretcher.co.uk).
For the year ending 31 March 2019, Poundstretcher reported a turnover of £434,622,967 and a net worth of £21,347,620 (Source: Red Flag Alert).
Title We understand that the property is held part freehold and part long leasehold. Details available on request.
VAT All prices, rentals and outgoings are quoted exclusive of VAT.
Proposal We are instructed to seek offers in the region of £550,000 (Five Hundred and Fifty Thousand Pounds) subject to Contract and exclusive of VAT, reflecting a Net Initial Yield of 8.67% after deduction of standard purchaser’s costs of 4.66%.
Ground Floor Sales - 5873 square feet Ground Floor Ancillary Stores and Office - 2539 square feet First Floor Ancillary Accommodation - 462 square feet Total Area: 8874 square feet
Status: For Sale
Offers Over: £550,000
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.