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