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Braidwater Retail Park

£4,500,000

For Sale Sold

Braidwater Retail Park, Ballymena, BT42 3AG

WhatsApp Facebook Twitter Pinterest Linkedin Email

For Sale Sold

Braidwater Retail Park

Braidwater Retail Park, Ballymena, BT42 3AG

£4,500,000

Description

HIGH YIELDING OPEN CONSENTED RETAIL WAREHOUSE INVESTMENT

Investment Summary

Ballymena is one of Northern Irelands leading provincial towns and one of the top 5 retail locations within Northern Ireland.
Braidwater Retail Park is an open class one consented park situated on the edge of Ballymena town centre with extensive frontage onto Larne Link Road.
The scheme has excellent access and benefits from substantial traffic flow.
Total accommodation of 60,465 sq ft.
Virtually fully let with an excellent letting history.
Tenants include Poundstrecher, B&M Bargains, Currys PC World, Poundland, Pets at Home and Dreams.
The scheme has excellent access and benefits from substantial traffic flow.
WAULT of 3.62 years to expiry and 1.66 years term certain.
The scheme benefits from c.171 free car parking spaces.
Gross income of £514,391 per annum and a net income of £471,535 per annum.
The property is held predominantly freehold with part held long leasehold with 979 & 975 years remaining at a peppercorn rent.

Description

Braidwater Retail Park was constructed in circa. 1994/95 and is located on the edge of Ballymena town centre.

The scheme consists of seven units ranging form 6,300 – 10,200 sq ft in size. The property provides total accommodation of 60,465 sq ft of open class retail warehousing.

Tenants include Poundstrecher, B&M Bargains, Currys PC World, Poundland, Pets at Home and Dreams.

Access is easily facilitated in all directions via the Larne Link Road.

The car park provides c.171 free spaces.

Asking Price

We are instructed to seek offers in excess of £4,500,000 (Four Million Five Hundred Thousand Pounds Sterling) excluding VAT.

A purchase at this level would reflect an attractive Net Initial Yield of 9.83% and rising to 12.82% on the letting of unit 5 (assuming purchaser’s costs of 6.57% and reflecting a capital value of £74 per sq ft.