Contact Agent
Contact Shooter Property Services (Banbridge)
Agreed
Commercial Investment
67-73 Newry Street
banbridge, BT32 3EA
from
£450,000
- Status Sale Agreed
- Property Type Commercial Investment
-
Stamp Duty
Higher amount applies when purchasing as buy to let or as an additional property£10,000 / £32,500*
Key Features & Description
Excellent opportunity to acquire a high profile town centre investment
Comprising of two restaurant units, one retail unit and 1st floor studio offices with full planning permission for residential conversion
Rear access to three private car spaces and public car park on Commercial Road
Forms a significant parcel of land in the heart of Newry Street, the prime retailing pitch in Banbridge
A key regional town on the Belfast to Dublin corridor in Northern Ireland. The town of Newry is located only 15 miles (24 km) to the south, whilst Belfast, is located only 26 miles (41 km) to the north
Easily accessible from Northern Irelands road network and bus links
Initial gross rental income of £37,500 rising to £40,000 in February 2021
Significant opportunity to increase rental return with letting up of vacant restaurant and 1st floor studio offices or the conversion to 3 x penthouse apartments (full planning permission recently secured)
Net Initial Yield of 6.66% rising to 7.19% February 2021
Full tenancy schedule available upon request
Description
Prime Mixed-Use Investment Opportunity with Significant Value Add Potential
Prime Mixed-Use Investment Opportunity with Significant Value Add Potential
Rooms
General Description
The property is of cavity brick construction with a pitched
concrete tiled roof to the front and a pitched profile alloy
clad roof return to the rear.
67 Newry Street - Hallmark
A uniformly configured retail unit benefitting from glazed frontage, suspended ceilings with fluorescent light fittings, carpet floors, electric storage heating and air conditioning. Ancillary store and W.C is located to the rear. The unit is let to
a personal trader and has successfully traded as Hallmark for more than 20 years.
69 Newry Street - Safari Grill
A high specification licensed cafe/restaurant fitted and maintained to an exceptional standard. The unit enjoys a sheltered and recessed entrance secured by an electric roller shutter door. Accommodation extends to an open dining area, partially open kitchen, and extensive seating options including private booth style seating. The unit is fitted with decorative lighting, modern floor coverings and benefits from a well configured commercial kitchen, modern
customer W.Cs, and rear access on to the car park at Commercial Road for staff and servicing. The unit is served by oil fired central heating system and mains gas for cooking.
71-73 Newry Street - Vacant (formerly Gaze)
A modern restaurant unit. The unit enjoys a full height glazing system to street level and modern timber clad panelling with roller shutter doors. Internally the unit remains with the former tenants fit out in situ. The unit has an array of modern seating with associated decorative features and a commercial kitchen. The unit benefits from a mains gas connection serving gas cooking functions.
69A Newry Street – Vacant Offices with Residential Approval
The 1st floor space benefits from self contained access directly off Newry Street via a wide, open sided staircase. Accomodation comprises multiple self contained small offices, currently finished to a basic standard.
Planning permission has recently been secured for conversion to three substantial residential penthouse apartments comprising two x 2 beds and 1 x 3 bed apartments. Planning reference: LA08/2019/0014/F, plans available upon request.
Alternatively the space also has excellent potential for refurbishment to provide flexible workspaces or studio space. The frontage on to Newry Street provides good branding and signage opportunities.
The 1st floor accommodation includes three dedicated private car parking spaces adjacent to the Council owned, public car park on Commercial Road.
NAVs
67 Newry Street NAV £15,900
69 Newry Street NAV £14,000
71-73 Newry Street NAV £20,800
69A Newry Street NAV £18,700
EPC Ratings
67 Newry Street, EPC C61
69 Newry Street, EPC C52
71-73 Newry Street, EPC C74
69A Newry Street, EPC G160
*A copy of EPC certificates can be made available upon request
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Contact Shooter Property Services (Banbridge)
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67-73 Newry Street, banbridge, BT32 3EA
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