The subject property occupies a prominent corner site on the Upper Newtownards Road and Grampian Avenue. The property benefits from a high volume of passing traffic and is close to Connswater Shopping Centre, Ballyhackamore, Belmont and is also located on The Glider route which gives high accessibility to the rest of City. The surrounding occupiers are a mixture of businesses and residential property. To the rear of the property there is a large public car park.
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Prominent corner unit extending to c.1,709 sq. ft.
Gross annual income of £13,540 exclusive
Gas fired heating
Central location close to public transport
Offers are invited in the region of £150,000 exclusive
The subject property is a 3-storey end terrace building extending to c.1,709 sq. ft. The property is of traditional construction with a part red brick/plaster finish and a pitched slate roof. The accommodation consists of a reception area with private offices on ground floor. Two private offices and large waiting area on 1st floor and an open plan office on the 2nd floor. The property also benefits from gas central heating, double glazed windows and electric roller shutter on the ground floor.
ACCOMMODATION (at widest points)
Ground Floor Area: 735 sq. ft.
First Floor Area: 605 sq. ft.
Second Floor Area: 369 sq. ft.
Total Area: 1,709 sq. ft.
Tenant: Alliance Party
Term: 5 years (current lease expires 1st June 2021)
Rent: £12,000 p.a.x.
There is an additional income of £1,540 p.a.x. from J C Decaux for advertising.
Total annual income: £13,540 exclusive.
We have been advised by LPS of the following:
56 Upper Newtownards Road
Net Annual Value: £9,000
Rates in the £ 2018/2019: £0.602803
Estimated Rates Payable: £5,425
Net Annual Value: £1,000
Rate in the £ 2018/2019: £0.602803
Estimated Rates Payable: £602.83
Total Estimated Rates: £6,027.23
VAT is not applicable for this sale.
Offers are invited in the region of £150,000 exclusive of VAT. A sale at this level would reflect a gross yield of 9%.
E103 - As illustrated in graph.
For further information or to arrange an inspection of the property, please contact:
Contact: Andrew Lennon or William Knox
Tel: 028 9024 1500
Email: email@example.com or Email: firstname.lastname@example.org
Status: For Sale
Offers invited in the region of: £150,000
Stamp Duty: £0*
* Stamp duty rates provided as a guide only. Additional charges may apply. Please refer here for more information.