For Sale

43 High Street, Portadown, BT62 1HY

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Location of 43 High Street

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  • features
  • description

features

  • Grade B Listed building extending to approximately 6,329 sqft (588 sqm).
  • Comprising a former bank premises at ground floor with office accommodation at 1st & 2nd floor.
  • 1st Floor currently let at £6,770 pax.

description

Location

Portadown is a busy town in Co. Armagh situated approximately 23 miles southwest of Belfast with a resident population of c. 29,000 (2011 Census) and a wider catchment population of c. 95,000. It benefits from excellent transport links being situated only 3 miles from the M1 motorway and is on the main Belfast to Dublin railway line.



The subject property occupies a prime position on High Street, adjacent to High Street Mall and a only few minutes walk from the train station and the towns main public parking facilities. Occupiers in the locality include Lidl, Franklins, Greggs, JR McMahon Menswear and Specsavers.



Description

The subject property comprises a substantial three-storey Grade B Listed building (Ref No. HB/14/10/001) of traditional construction with a cut stone facade and pitched slate roof. There is a flat roofed, rendered ground floor extension to the rear which leads to an enclosed concrete yard that benefits from access onto Woodhouse Street via a shared laneway.



The ground floor comprises a former banking hall off which is a private office, storeroom, strong room, staff kitchen, comms room, and WCs, with a former vault and storeroom at lower ground floor level. Finishes include plastered/painted walls, plastered and suspended ceilings with recessed spot lighting, carpeted, tiled and vinyl floors and is heated by an oil fired central heating system with the benefit of air-conditioning in the banking hall.



The upper floors benefit from a separate entrance off High Street, with lift and stair access from the ground floor entrance lobby. The first floor which is tenanted, provides a mix of open plan and cellular offices which are finished to include plastered/painted walls, suspended ceilings with recessed fluorescent lighting, carpeted floors, perimeter trunking and is heated by perimeter radiators fed from the central heating system. There is also a kitchen and storeroom on the first floor rear return.



The second floor also provides a mix of open plan and cellular offices with similar finishes to the first floor but with the benefit of air-conditioning. There is a staff kitchen on the second floor rear return, whilst the WC facilities are shared between both floors.



Accommodation

The premises provides the following approximate internal areas:



- Ground Floor: 2,905.31 sqft (269.91 sqm).

- First Floor: 1,726.65 sqft (160.41 sqm).

- Second Floor: 1,697.48 sqft (157.70 sqm).

- Total: 6,329.44 sqm (588.02 sqm).



*WCs reflected



The property occupies a site area of approximately 0.15 acres (0.06 ha).



Tenancy

The First Floor is occupied by Hunter Boyce & Company, under a 25 year lease from 01.01.1998 at a passing rent of £6,770 pax.



Title

We are advised that the property is Freehold Fee Farm Grant.



NAV

We have been advised by Land & Property Services that the Net Annual Values are as follows:

Ground Floor: £26,300 (Rates Payable for 2021/22 of approximately £14,162).

First Floor: £9,550 (Rates Payable by the Tenant for 2021/22 of approximately £5,142).

Second Floor: £8,650 (Rates Payable for 2021/22 of approximately £4,658).



Price

Offers in the region of £325,000 exclusive, subject to contract.



VAT

We are advised that the property is not elected for VAT.

Property Costs

  • Status: For Sale
  • From£325,000
  • 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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