Fully Let Office Investment

Key Benefits

• The property is situated in Sydenham Business Park and fronts onto Airport Road West, which is the main arterial route servicing the east Harbour Estate from the city centre
• Fully let to Phoenix Natural Gas Limited with a gross rental income of £560,000 per annum
• The premises comprises of a purpose built 3 storey office block extending to 44,525 sq ft and 190 car parking spaces
• Phoenix Energy Group Limited has a CreditSafe score of 100/100 representing “Very Low Risk”
• We are instructed to seek offers in excess of £5,035,000 (Five Million and Thirty Five Thousand Pounds) exclusive for our client’s interest excluding VAT
• A purchase at this level would reflect a low capital value of £113.08 per sq ft and an attractive net initial yield of 9.00% (assuming purchaser’s costs of 6.59%)
• We have been informed that the property is held by way of long leasehold subject to a ground rent of £77,000 plus VAT per annum (subject to 5 yearly reviews to CPI)

Location

Belfast, the capital of Northern Ireland is the 15th largest city in the United Kingdom, but the 11th largest conurbation. The city is located approximately 165 km (103 miles) north of Dublin and 120 km (75 miles) south east of Derry-Londonderry.

Belfast has an excellent communication network. The M2 motorway provides access to the north towards Antrim and Derry and the M1 motorway provides access to the south and west of the Province towards Lisburn and Dublin.

The city benefits from four railway stations, and the Belfast to Dublin train route has a journey time of approximately 1 hour 50 minutes. The two airports, Belfast City and Belfast International, provide access to all major UK and a large number of international destinations including America and mainland Europe.

As the largest commercial centre in Northern Ireland, Belfast has developed into one of Ireland’s premier business cities and has the largest employed population in the region. Belfast in the last few years has been extremely successful in attracting Foreign Direct Investment driven primarily by a highly skilled and educated employment base, competitive operating costs and advanced telecoms infrastructure