For Sale

784 Upper Newtownards Road, Belfast, BT16 1UD

Offers in the region of

£2,875,000

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Investment
D 88
EPC Rating

Location of 784 Upper Newtownards Road

The property is situated on the Upper Newtownards Road dual carriageway in Dundonald which is 6 miles from Belfast City Centre and 4 miles from Newtownards. The building benefits from excellent access to the Greater Belfast area, North Down and the motorway network via the A20 dual carriageway, as well as the ports of Belfast and Larne and Belfast International and George Best Belfast City Airports. The immediate area is an established commercial and industrial location with the Dundonald Industrial Estate and Dundonald Enterprise Parks being situated on Carrowreagh Road to the rear of the property.

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features

  • The property is situated in Greater Belfast on the A20 dual carriageway which connects Belfast City Centre (6.5 miles) and Newtownards (4 miles).
  • Comprises a self-contained office building totaling c.13,454 sq ft with 29 car parking spaces.
  • The lease is for a term of 25 years from 2nd April 2007 expiring 1st April 2032.
  • Vodafone’s commitment to the location is demonstrated by the removal of the 2022 break clause.
  • The property is entirely let to Vodafone Ltd at a current rent of £199,397 per annum.
  • Vodafone Ltd provides an Experian rating of 97/100 which reflects a ‘very low risk’.
  • The building is a strategic fixed line communications site to Vodafone who have invested heavily into telecommunications infrastructure and hardware on site.
  • The site extends to 0.65 acres (0.263 hectares).
  • Held long leasehold with in excess of 963 years unexpired. A total ground rent of £124.50 per annum is payable.
  • We are instructed to seek offers in excess of £2,875,000 (Two Million Eight Hundred and Seventy-Five Thousand Pounds) for our client’s long leasehold interest excluding VAT.
  • A purchase at this level would reflect an attractive net initial yield of 6.50% and a potential reversionary yield in April 2022 to 7.23%, assuming purchasers costs of 6.43%.

description

The property comprises a detached two-storey office building set on a broadly rectangular site together with a generator building to the rear.

The building was originally constructed in the late 1980’s with a concrete frame, block infill walls faced with brick with double glazed windows under a pitched tiled roof. The building has been refurbished internally to a high standard.

The majority of the ground floor has been fitted out at a significant cost for high tech use as accommodation for multiple servers and communication equipment. The first floor acoomodation provides a mixture of open plan and cellular offices with canteen and break out areas.

The property benefits from 29 secure car parking spaces accessed via a barrier system located to the front and rear of the site. This provides an excellent car parking ratio of 1:464 sq ft.

Property Costs

  • Status: For Sale
  • Offers in the region of£2,875,000
  • 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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