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Shane Retail Park

£19,700,000

For Sale Sold

Shane Retail Park, Boucher Road, Belfast, BT12 6HR

WhatsApp Facebook Twitter Pinterest Linkedin Email

For Sale Sold

Shane Retail Park

Shane Retail Park, Boucher Road, Belfast, BT12 6HR

£19,700,000

Description

PRIME RETAIL WAREHOUSE INVESTMENT

Investment Summary

Belfast is situated approximately 103 miles (165 km) north of Dublin and 75 miles (120 km) 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.
Shane Retail Park is located at the southern entrance of the Boucher Road – Northern Ireland’s premier retail warehouse destination.
170,484 sq.ft of retail warehouse consent with an additional 63,099 sq.ft mezzanine accommodation.
Total site measures approx. 13.00 acres (5.26 hectares).
100% occupied with an excellent letting history.
WAULT to break of 7.04 years and 8.18 years to expiry.
Tenants include Homebase, EZ Living, Smyths Toys, Dunelm, Oak Furniture Land and Costa Coffee.
679 free car parking spaces available.
Asset management opportunities include planning for a number of additional units ranging from c.1,500 sq.ft to c.10,000 sq.ft.
Gross income of £2,501,503 per annum and a net income of £2,418,503 per annum.
Part Freehold and Long Leasehold title.

Description

Shane Retail Park, constructed in 2003, is located at the southern entrance of the Boucher Road – Northern Ireland’s premier retail warehouse destination.

Anchored by a 50,000 sq.ft Homebase, the scheme consists of a further 7 units – Oak Furntiure Land, Smyths Toys, Dunelm Mill, EZ Living, Costa Coffee, Carpetright and Dreams – and 2 trade counter units, totalling 170,484 sq.ft.

Access and egress is easily facilitated in all directions via the Boucher Road. The location is only a few minutes from Stockmans Lane roundabout, which leads directly onto the M1 motorway. The car park provides 679 free spaces.

Asking Price

We are instructed to seek offers in excess of £19,700,000 (Nineteen Million and Seven Hundred Thousand Pounds Sterling) for our client’s part freehold and long leasehold interest excluding VAT.

A purchase at this level would reflect an attractive net initial yield of 11.50% assuming purchasers cost of 6.75% and a capital value of £116 per sq.ft.