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For Sale

1 Lanyon Quay, Belfast, BT1 3LG

Offers in the region of

£2,300,000

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Location of 1 Lanyon Quay

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description


  • Located beside the River Lagan and within a few minutes’ walk of the Law Courts and Victoria Square Shopping Centre.

  • The property forms part of a three storey 80,000 sq ft mixed use building with 77 basement car parking spaces completed in April 2004.

  • Comprises two office suites (A & B1) on the first floor which have been amalgamated to provide grade A office accommodation.

  • Let to Baker Tilly Management Limited (Company number 03077999) at a rent of £165,000 pa.

  • The tenant has a Delphi score of 77/100 which represents a below average risk.

  • Let for a term of 10 years from the 1st November 2017 with a tenant only break at year 7 giving 6 months’ notice.

  • The property measures 10,090 sq ft (937.39 sq m).

  • Rent reviews on the 1st April 2021 and 1st April 2026.

  • Held long leasehold for a term of 999 years (less 3 days) from 30th April 2004 at a ground rent of £1 pa.

  • We are instructed to seek offers in the region of £2,300,000 (Two Million Three Hundred Thousand Pounds) for our client’s virtual freehold interest excluding VAT.  A purchase at this level would reflect a net initial yield of 6.75% assuming purchasers costs of 6.34%.

Property Costs

  • Status: For Sale
  • Offers in the region of£2,300,000
  • 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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