For Sale

Unit 1, 27/29, 27-29 Unit 1, 27/29 High Street, Newtownards, BT23 7HS

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Commercial Property

Location of Unit 1, 27/29

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features

  • Thriving market town.
  • Let to Savers Health and Beauty Ltd at a rent of £35,000 per annum exclusive.
  • Modern building constructed in 2004.
  • Offers in excess of £520,000 exclusive, subject to contract.

description

Location

Newtownards is a thriving market town with a catchment population in excess of 100,000 people and is located approximately 13 miles east of Belfast.



Major retailers close by include Peacocks, Edinburgh Woollen Mill, Specsavers, Argento, Caffe Nero, Vogue, Wardens and Menarys.



The town boasts an attractive mix of national and local retailers.



Description

The unit was constructed in 2004 and is arranged on ground and one upper floor with excellent rear vehicular servicing.



Ground Floor: Approx. 1,715 sqft (159 sqm)

First Floor: Approx. 1.350 sqft (125 sqm)

Total: 3,065 sqft (284 sqm)



Tenure and Tenancy

The property is Freehold and let to Savers Health and Beauty Ltd on a 5 year lease from 01.10.2019 on effective full repairing and insuring terms at a rent of £35,000 per annum exclusive.



Tenant Covenant

Savers Health and Beauty Ltd have a D&B rating of 2A1 indicating minimal risk. For the year ending 28.12.2019 they had a turnover of approximately £569.70 million with a pre-tax profit of approximately £50.57 million.



Price

Offers in excess of £520,000 exclusive, subject to contract are sought for the benefit of the freehold interest, reflecting a net initial yield of c. 6.42% after standard purchase costs of c. 4.78%.



VAT

Please note all prices, rentals and outgoings are quoted net of VAT which may be chargeable.

Property Costs

  • Status: For Sale
  • From£520,000
  • Stamp Duty: £0*

* Stamp duty rates provided as a guide only. Additional charges may apply. Please refer to the tax service's website for more information.

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Cushman & Wakefield
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