For Sale

140-142 Malone Avenue, Belfast, County Antrim, BT9 6ET

Offers Around

£1,200,000

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Location of 140-142 Malone Avenue

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DESCRIPTION

This superb development opportunity offers a 0.21 hectare site with frontage onto Malone Avenue. There are two buildings within the site, Windsor Baptist Church, a brown brick, pitched roof structure with a single storey, flat roofed and externally rendered extension to the rear and a single storey Portakabin used as ancillary church accommodation.

An iron railing fence atop a low wall separates the church building from Malone Avenue with specimen trees between this boundary and the church. A low hedge separates the Portakabin from Malone Avenue.

LOCATION

The site is located in South Belfast on Malone Avenue approximately 50 metres from its junction with Lisburn Road to the west. Lisburn Road is a major arterial route providing easy access to Belfast City Centre, which is only 1.6 miles away. Public transport connections are within easy reach of this highly convenient location. The prestigious Queens University and long established Stranmillis College are within a short walking distance of Windsor Avenue.

The nearby Lisburn Road offers an exceptional array of social amenities and conveniences such as restaurants, bars, coffee shops and boutiques ensuring the location would be highly desirable for First Time Buyers and Investors to purchase a home or investment property. The Malone suburb is one of Belfast's most desireable addresses and provides an excellent range of sporting / recreation amenities such as, Balmoral Golf Club, Malone Golf Club, Mary Peters Track and Queens University Sports Complex.

The site benefits from Full Planning Permission for 22 no. One and Two Bedroom apartments and is set amongst establised residential housing with plenty of local amenities and within easy access of some of the main arterial routes in Belfast and motorway networks and is well serviced by public transport.

EXCEPTIONAL SALES DEMAND & BUILD TO RENT OPPORTUNITY

Due to the location of the subject site in one of Belfast's most popular residential addresses there would be excellent demand for the apartments for sale, and they will appeal to young professionals, first time buyers and also parents who have children attending nearby Queens University.

The proposed development also offers an opportunity for an institutional or private investor to develop the scheme to retain and let the apartments as a long term investment. Strong rental levels will be achieved for the apartments.

The letting market in Belfast for high quality apartments is exceptionally buoyant. There is a high demand for rental apartments in Belfast from young professionals and from corporate companies who are letting apartments for their staff, in addition to, TV and film production companies (which is a rapidly growing sector in Northern Ireland).

The influx of multi-national companies investing in Belfast, and expanding existing businesses has been significant in recent years, thereby substantially increasing the demand for the letting of high quality apartments.

PROXIMITY OF THE SUBJECT SITE TO A RANGE OF AMENITIES AND LOCATIONS:

Lisburn Road - Approx. 50 metres
Queen's University - Approx. 0.7 miles
Belfast City Hospital - Approx. 0.8 miles
M1 Motorway - Approx. 1.2 miles
Boucher Road - Approx. 1.2 miles
Balmoral Golf Club - Approx. 1.4 miles
Belfast City Centre - Approx. 1.6 miles
Royal Victoria Hospital - Approx. 1.9 miles

PLANNING

The site benefits from Full Planning Permission under application LA04/2017/0046/F for 4 no. one bedrooms and 18 no. two bedrooms apartments across 2 purpose built blocks each with three storeys. Each apartment has one off-street parking space.

The site layout has been amended to reconsider the parking for the scheme, and has been approved under the planning application LA04/2018/1355/F.

TERMS OF SALE

The Lands are being offered For Sale by Private Treaty.

The criteria to submit an offer:

- Confirmation of name and address of proposed purchaser
- Confirmation of offer level
- Proof of funds from Bank to confirm that adequate funds are available to complete the
purchase at offer level
- Confirmation of solicitor who will represent purchaser
- Any conditons pertaining to offer

ASKING PRICE

Offers Over £1,200,000

VAT

All prices, outgoings etc., are exclusive of VAT but may be subject to VAT.

TENURE

The site is for sale with vacant possession on completion.

FURTHER INFORMATION

For further information or to arrange a viewing please contact:

Thomas O'Doherty M.R.I.C.S.
Land & New Homes
T: 028 9068 5319
E: todoherty@simonbrien.com

Mark Gillespie B.A. Hons
Land & New Homes
T: 028 9068 5310
E: mgillespie@simonbrien.com

Property Costs

  • Status: For Sale
  • Offers Around£1,200,000
  • Stamp Duty: £63,750*

* 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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