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For Sale

Mentmore, 497-501 Lisburn Road, Belfast , BT9 7EZ

Asking Price

£950,000

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Location of Mentmore

The property is located opposite the fire station on the Lisburn Road.

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features

  • Parade of four fully let retail units and three apartments occupying a prime pitch on Belfast's Lisburn Road.
  • The retail units and apartments are being offered to the market in one lot by way of formal tender.
  • Tenancy schedule and income/tenancy details available as part of the legal pack.
  • Excellent opportunity for an investor to acquire a substantial mixed use portfolio in a prime location.
  • Closing date for tenders Friday 23rd November 2018.
  • Legal pack available from DWF Solicitors.

description

LOCATION The subject property occupies an excellent position on the Lisburn Road in South Belfast approximately 2 miles from the city centre. The Mentmore Building is located immediately opposite Lisburn Road Fire Station a short distance from Marks and Spencers. The Lisburn Road is a highly regarded residential and commercial location and is positioned in one of the most affluent areas of Belfast. It benefits from a mix of local and national retailers and a variety of coffee shops and restaurants. From both a residential and commercial perspective it is regarded as a premier address. DESCRIPTION The property being offered for sale comprises of four retail units and three apartments. Full information on the tenancies and current occupancy is available with the legal pack via DWF Solicitors. SCHEDULE OF ACCOMMODATION (approximate only) Retail Unit 1 t/a LJ Rentals - 580 sq ft Retail Unit 2 t/a Andrew Watson - 740 sq ft Retail Unit 3 t/a Crawford Mulholland- 810 sq ft Retail Unit 4 t/a Roycroft Interiors - 750 sq ft Apartment 2 - 712 sq ft Apartment 6 - 712 sq ft Apartment 10 - 1,336 sq ft The above sizes are approximate only and prospective purchasers must carry out their own measured survey. IMPORTANT INFORMATION TO BE NOTED The property being offered to the market is the residual of the Mentmore development which includes the retail units, three apartments and the common areas. Full information is contained in the legal pack. Two of the retail units have been the subject of water ingress over a prolonged period causing internal damage. These leaks have not yet been resolved and is the subject of an ongoing claim against an insurance company. Again full details are disclosed in the legal pack. METHOD OF SALE The property is being offered for sale by way of formal tender. Prospective purchasers must request a legal pack from the vendors solicitor and make their formal contractual offer to purchase by 12 noon on Friday 23rd November 2018. Tenders should be sent to DWF Solicitors, 42 Queen Street, Belfast, BT1 6HL. Offers to purchase are to be placed in a sealed envelope and marked 'Formal Tender for Mentmore'. Legal packs are available from the vendors solicitor: Kirsty Mairs DWF Solicitors, 42 Queens Street, Belfast, BT1 6HL Tel 02890 230230 Email: kirsty.mairs@dwf.law All formal tenders should include the following: 1. A signed contract. 2. Confirmation of the proposed purchase price. 3. A cheque equivalent to 5% of the purchase price made out to DWF Solicitors. 4. Any other proposed conditions and confirmation of the completion date (completion date to be Friday 14th December 2018). Please note that the vendor is not obliged to accept the highest offer or any offer received via tender or otherwise. Information contained in this brochure is for guidance only and prospective purchasers must make their own enquiries via the legal pack. GUIDE PRICE Offers are invited in the region of £950,000. Please note that the retail units are vat registered and therefore vat will be payable on the purchase price of the retail units. FURTHER INFORMATION For further information in respect of the sale by formal tender please contact Trevor Dougan or Tony Adams on 02890 308855 or info@douganproperty.com

Property Costs

  • Status: For Sale
  • Asking Price£950,000
  • Stamp Duty: £0*

* Stamp duty rates provided as a guide only. Additional charges may apply. Please refer here for more information.

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Contact Agent

Dougan Commercial
Unit 6 Orpen Shopping Centre

Other costs to budget for

Wilson Nesbitt Solicitors

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