FOR SALE - INVESTMENT OPPORTUNITY LET TO HARRY CORRY & BENSON FOR BEDS - 36-38 BOUCHER ROAD, BELFAST, BT12 6HR
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FOR SALE - INVESTMENT OPPORTUNIT Y LET TO
HARRY CORRY & B E NSON FOR B E DS
3 6 – 3 8 B O U C H E R R OA D , B E L FA S T, B T 1 2 6 H R
3 6 – 3 8 B O U C H E R R OA D , B E L FA S T, B T 1 2 6 H R
Summary
• Fully let investment to Harry Corry & Bensons for Beds
• Boucher Road is Belfast’s Primary Retail Warehouse & Car Showroom location
• Adjacent to the Former B&Q Building where 65,000 sq ft is LET to The Range
• Properties extend to c. 18,040 sq.ft (1,676 sq.m) on a site of c. 1.42 Acres (0.57 Hectares)
• Net Income of £167,500 per annum
• 0% Landlord Liability as full service charges in place
• Extensive on-site car parking with a gated service yard / turning area
• Change of use Planning Permission for a Convenience Store in respect of Unit 2.
• Further on-site development potential in respect of the car parking area, subject to any required consents.
• Offers invited in the region of £3,000,000 (Three million pounds). An acquisition at this level
reflects a Net Initial Yield of 5.25% assuming purchaser’s costs of 6.45%.
3 6 – 3 8 B O U C H E R R OA D , B E L FA S T, B T 1 2 6 H R
Location
Belfast is the capital of Northern Ireland with a population Boucher Square
extending to approximately 650,000, the 15th largest city in
the UK, and a catchment population in excess of one million
people within a 20 minute drive time. The city is situated Boucher Retail Park
approximately 104 miles north of Dublin and 75 miles south
east of Derry/Londonderry. Balmoral Plaza
Belfast is the largest commercial centre in Northern Ireland
which has developed into one of Ireland’s premier business 36–38 Boucher Road
cities with the largest employed population in the region.
The Range (Opening Soon)
Situation Shane Retail Park
The subject property occupies a highly accessible and visible
location on the Boucher Road in South Belfast approximately
2 miles from Belfast City Centre and in close proximity to the
M1 junction at Broadway and the Westlink.
The Boucher road is highly regarded as Northern Ireland’s
most desirable Retail Warehouse and Car Showroom location.
Retailers in the immediate vicinity include M&S Simply Food,
Lakeland, Pets at Home, Homebase, Chain Reaction, Harvey
Norman and Argos. Car showrooms within the area include
Charles Hurst, Donnelly Group and Isaac Agnew.
3 6 - 3 8 B O U C H E R R OA D , B E L FA S T, B T 1 2 6 H R
Unit 1 Unit 2
Description
The subject properties comprise of two adjoining retail warehouse’s of steel portal frame construction
with insulated double skin metal clad panels and brick walls to c. 2.25m and a pitched metal clad roof
with integrated roof lights.
Unit 1 comprises over two storeys and Unit 2 over ground floor only. Both units has been internally
fitted out to the corporate specification of the retailer.
The properties benefit from generous car parking facilities and a substantial service yard / turning
area with a gated entrance and perimeter fencing.
3 6 – 3 8 B O U C H E R R OA D , B E L FA S T, B T 1 2 6 H R
Tenancy Schedule
ADDRESS TENANT SQ.FT TERM LEASE BREAK RENT
EXPIRY OPTION RENT RENT REVIEW
Unit 1
Homestyle Group Operations Ltd 5,528 25 yrs from 28/05/2026 N/A £92,500 01/06/2021
36/38 Boucher Rd
T/a Bensons for Beds Mezz-5,188 01/06/2001 subject to open
Belfast
Guaranteed by Property market rental value
Portfolio (No17) Ltd on an upwards
only basis
Unit 2 Harry Corry Ltd 7,345 10 yrs from 28/02/2025 N/A £75,000 01/03/2020
36/38 Boucher Rd 01/03/2015 subject to open
Belfast market rental value on
an upwards only basis,
capped at £85,000
TOTAL 18,040 £167,500
Rates Proposal
The current Rate in the Pound (2018/2019) for Belfast is We are seeking offers invited in the region of £3,000,000
£0.602803 (Three million pounds) subject to contract and exclusive of
Unit 1 Unit 2 VAT. An offer at this level reflects an attractive Net Initial
Yield of 5.25% after allowing for standard purchaser’s costs
NAV: £88,400 NAV: £91,300 of 6.45%.
Rates Payable: £53,287.79 Rates Payable: £55,035.91
Tenure
Planning We assume the property is held Freehold/Long Leasehold.
Full planning permission obtained on 2nd April 2014 in respect
of Unit 2 to allow the sale of convenience goods.
Planning Reference – Z/2012/1373/F.
VAT
All figures quoted may be subject to VAT.
A copy of the relevant Planning Documents can be downloaded
from the Frazer Kidd Website.
*We would recommend that interested parties make their own
Viewing
Strictly by appointment with the sole selling agents-
enquires regarding planning.
Frazer Kidd
Telephone: 028 9023 3111
Email: mail@frazerkidd.co.uk
3 6 - 3 8 B O U C H E R R OA D , B E L FA S T, B T 1 2 6 H R
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PROPERTY BOUNDARY EDGED IN RED.
FOR INDICATIVE PURPOSES ONLY.
C:\SURVEYS\BOUCHER_ROAD_OSNI MAP_DEEDMAP_161217A.dwg, 16/12/2017 4:59:31 PM, DWG To PDF.pc3
3 6 - 3 8 B O U C H E R R OA D , B E L FA S T, B T 1 2 6 H R
For further information please contact: EPC - Unit 1 & 2 Brian Kidd M: 07885 739063 E: bkidd@frazerkidd.co.uk Neil Mellon M: 07957 388147 E: nmellon@frazerkidd.co.uk Telfair House, 87/89 Victoria Street, Belfast, BT1 4PB T: 028 9023 3111 F: 028 9024 4859 E: mail@frazerkidd.co.uk W: www.frazerkidd.co.uk Disclaimer Frazer Kidd LLP for themselves and for the vendors of this property whose agents they are, give notice that (I) The particulars are set out as a general outline for the guidance of intending purchasers or lessees, and do not constitute part of an offer or contract; (ii) All descriptions, dimensions, references to condition and necessary permissions for use and occupation, and other details are given in good faith and are believed to be correct, but any intending purchasers or tenants should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the correctness of each of them; (Iii) No person in employment of Frazer Kidd LLP has any authority to make or give representations or warranty whatever in relation to this property.
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