175 Lisburn Road
Belfast
BT9 7AG

Inviting offers in the region of £435,000

Property details

The property occupies a highly prominent and convenient corner position on the Lisburn Road, at its junction with Tates Avenue, Belfast. The Lisburn Road benefits from high volumes of vehicular traffic and pedestrian footfall.

The area is a short journey from Belfast city centre and has a mixed demographic including a large proportion of students living nearby, given the properties close proximity to Queens University and Belfast City Hospital. Surrounding occupiers include Co-op, Reids Florists, Dream Apartments, Clear Pharmacy, Cuckoo and Wine Flair. The property forms part of a new state-of-the-art mixed-use building accommodating 2 further retail units and 23 apartments over the first to fifth floors. The retail unit comprises of c. 1,600 Sq Ft (NIA) and has been fitted out by Caffé Nero to their very high corporate specification. The accommodation benefits from floor to ceiling height glazed windows, which wrap around the highly visible corner shop frontage. To the rear of the premises is a service yard for bin storage. Tenancy Details: The subject property is let to Nero Holdings Ltd (company number: 03288178), trading as Caffé Nero for a term of 5 years from 4th May 2023 and expiring on 3rd May 2028. The passing rent is £35,000 per annum. A copy of the lease is available upon request.

Key features

• A rare opportunity to acquire a single let retail investment, positioned on the desirable Lisburn Road, South Belfast.
• Ground floor corner unite comprising of c. 1,600sqft
• Let to an excellent covenant, Nero Holdings Limited trading as Caffe Nero for a period of 5 years from May 2023 at a passing rent of £35,000 per annum.
• Acquisition at this level would reflect a net initial yield of 7.73%, after purchaser costs of 4.09%.