Foyle Chambers, 35 Limavady Road, Derry/Londonderry, County Londonderry, BT47 6LP
Offers in the region of
£3,000,000
Typical Mortgage
per monthInvestment
Contact Osborne King
Description & Features
- Prime Office Investment
Summary
- Purpose built office building extending to c. 20,600 sq ft arranged over ground, first and second floors.
- The property is held by way of freehold.
- The investment opportunity is fully let to the Public Prosecution Service for NI until 8th March 2034.
- Current passing rent of £252,350 per annum.
- We have been instructed to seek offers in the region of £3,000,000 reflecting a Net Initial Yield of 7.90% assuming full purchasers costs of 6.45% (please note that this will need to be revised due to stamp duty changes post April 2025).
- Car parking spaces for approx. 44 cars.
Repairs/Insurance
The property is let on an Internal repairing and insuring basis (The landlord will be responsible for roof, window, and external repairs).
Service Charge
There is currently no service charge applicable as the building is occupied by a single tenant.
EPC - D48
Location of Foyle Chambers
The premises known as Foyle Chambers is situated along the Limavady Road and is approximately 2 miles from the city centre. The surrounding area comprises a high level of residential occupiers and various recreational and leisure facilities such as St Columb’s Park, Kilfennan Valley Park, Foyle Arena and Brigade Cricket Club.
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