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For Sale

Grove Shopping Centre, Market Street, Downpatrick, BT30 6DP

Offers Over

£6,000,000

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Location of Grove Shopping Centre, Market Street

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description

The property is located on Market Street, Downpatrick, 21 miles south east of Belfast and 31 miles north of Newry.  Downpatrick is a thriving market town, there are 15 schools in the town (over 5,000 pupils) and the Southern Eastern Regional College (opposite the Grove) has over 1,000 employees and 35,000 enrolments.  

Downpatrick is the administrative centre and joint headquarters of the Newry, Mourne & Down District council.  It has excellent connectivity to Belfast via the A7.  The A25/B8 provides direct access to Newry and the A1 Dual Carriageway linking the north to the south. 

Its catchment includes Ballynahinch, Newcastle, Carryduff, Saintfield, Killyleagh, Strangford, Portaferry, Ardglass and Crossgar.

The centre was developed in 2000 and comprises 20 retail units providing a total area of c. 45,000 sq ft (4,182 sq m).  

The site extends to 1.27 acres.

The centre benefits from having a number of quality retailers as tenants including: B & M Bargains, Savers, Poundland, Specsavers and SD Kells.  The tenant line up is remarkable for its low level of dependence and competition from online sale.  

The property provides an excellent opportunity for a number of asset management exercises to enhance returns and value.  

 

PROPOSAL

Offers invited in excess of £6 million which equates to a yield of 8.27% after allowing 5% acquisition costs.  

 

For further details contact either Michael Hopkins or Paul Olding

Tel:  02890 500 100 

 

Property Costs

  • Status: For Sale
  • Offers Over£6,000,000
  • 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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McKibbin Commercial Property Consultants
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