The former Ulster Bank building in Newcastle was bought by Alterity Investments, has recently been redeveloped to provide 5 apartments and a purpose built ground floor retail unit. The ground floor unit on Main street, Newcastle is currently let to Caffe Nero on a 10 year lease creating a yearly net income of £35,000 is being marketed for £500,000. Alterity Investments have been working with Caffe Nero to expand outside Belfast. The unit is situated amongst a combination of retailers, restaurants, cafes and guest houses.
Caffe Nero is one of the fastest growing coffee shop businesses in Northern Ireland with more than 20 stores in the province. Most recent openings include Ballyhackamore and The Soloist Building near the Waterfront Hall. Another store is due to open in South Belfast, Ormeau Road. The coffee chain is now worth an estimated £230m across its UK business.
Alterity Investments have had recent success in developing purpose built destinations with Boucher Square, Belfast which houses Nandos, Eddie Rockets, Prezzo, Costa Coffee and Frankie & Benny’s.
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Queen’s Parade area of Bangor is a step closer to regeneration.
Ards and North Down Council have announced Anglevale Consortium have been selected to develop Queen’s Parade Bangor. The aim is to draw people back to Bangor and revive connectivity between the town and the waterfront.
The scheme which TDK are advising on will focus on providing entertainment, leisure and hospitality. The proposal includes plans for a 4 Star hotel overlooking the waterfront created by Beannchor, the company responsible for Bullitt and Merchant hotels in Belfast.
The proposal also includes a family entertainment centre and three auditorium cinema which has multiple uses as a venue for festivals and concerts. An outdoor covered space will be used to host pop up events, markets and exhibitions. A multi-story car park will be provided at the rear of the site.
The council and Anglevale hope to begin works in early 2018.
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Alterity Investments and TDK Property Consultants are delighted to announce a letting to
the national coffee chain, Caffe Nero, at 379 Ormeau Road, Belfast.
Advised by TDK, Alterity Investments purchased the vacant property on the Ormeau Road
with Caffe Nero agreeing to acquire the ground floor unit on a new 10-year lease. Planning
is to be submitted to convert the upper floor into residential apartments. This is a further
indicator that the Ormeau Road is increasingly being seen as one of the premier café and
restaurant destinations outside Belfast City Centre.
Richard Faloon of Alterity Investments commented “Working with TDK we were delighted to
identify this location and have assisted Caffe Nero to continue their expansion programme
across Northern Ireland. Ormeau Road is an extremely strong location, which we are
confident will benefit from the presence of Caffe Nero”.
Mark Thallon of TDK commented “The food and beverage sector is undergoing a renaissance
in Northern Ireland and has expanded beyond Belfast City Centre over the past two years,
Alterity Investments are at the forefront of developing purpose-built destinations for
operators having had recent success with Boucher Square, Belfast, which houses Prezzo,
Nandos, Frankie & Bennys, Eddie Rockets and Costa Coffee. We are delighted to again have
advised on this newest development”.
Caffe Nero were represented in the transaction by Frazer Kidd. Brian Kidd of Frazer Kidd
commented “The Ormeau Road had been identified for some time as a potential location for
Caffe Nero, who are keen to expand their brand throughout the Province. Caffe Nero have
in the region of 650 units throughout the UK with 24 coffee shops already in Northern
Ireland. Frazer Kidd are delighted to have advised Caffe Nero on this latest acquisition”.
TDK Commercial Property Consultants are delighted to confirm the letting of the last remaining space at Valley Retail Park to Smyths Toys.
Smyths Toys will occupy 25,000 sq ft of space with the store opening in July 2016. TDK Commercial Property Consultants, acting on behalf of AEW UK REIT PLC, negotiated the letting and this follows on from the recent successful opening of Go Outdoors 45,000 sq ft flagship store at the Park.
Mark Thallon, Partner at TDK said “When we advised AEW in the acquisition, we had a clear strategy to identify certain retailers who would reenergize the scheme and attract footfall to what is a fantastic location. The addition of Smyths Toys to Valley Retail Park will complement Go Outdoors and we are delighted that they have chosen Valley Retail Park for their latest store. The scheme is now fully let and together with existing tenants Harveys, Halfords and Harry Corry, this completes an excellent turnaround for the Park in less than 12 months since AEW acquired it”
Andrew Playfer from AEW said “the addition of Smyths Toys to Valley Retail Park completes our initial strategy to reinvigorate the Park following our purchase last year.”
AEW UK REIT PLC acquired Valley Retail Park, Newtownabbey in Belfast for GBP 7.15 million.
London, Tuesday 16th February 2016, Real Estate Investment Trust, managed by AEW UK, has signed GO Outdoors, which brands itself as’ the UK’s biggest outdoor stores’ is to open its first superstore in Northern Ireland at Valley Retail Park, Newtownabbey.
AEW UK REIT PLC are delighted to announce this new entrant into the Northern Ireland Retail market. Go Outdoors will occupy the 45,000 sq ft space created by the recently vacated Harvey Norman store. TDK Commercial property consultants, acting on behalf of AEW, negotiated an early surrender of the Harvey Norman lease in order to facilitate Go Outdoors to come to the park.
Mark Thallon, Partner at TDK said “When we advised AEW in the acquisition, we had a clear strategy to identify certain retailers who would attract customers back to what is a fantastic location. Go Outdoors were top of the list and we are delighted that they have chosen Valley Retail Park for their first Irish store. We now only have two more units available and we are confident that this letting, together with existing tenants Harveys, Halfords and Harry Corry, will now attract other retailers to the remaining space”
Andrew Playfer from AEW said “the addition of Go Outdoors to Valley Retail Park is a key element of our strategy to reinvigorate the Park following our purchase last year. We believe this will be the catalyst to further lettings and expect to be in a position to make other announcements during the course of the year.”
AEW UK REIT PLC acquired Valley Retail Park, Newtownabbey in Belfast for GBP 7.15 million.
GO Outdoors, based in Sheffield, employs around 2,000 staff. It was founded in 1998 and offers customers equipment and clothing under one roof for activities including camping, walking, climbing, riding, fishing, skiing, running and cycling.
Café chain Costa Coffee has opened a 2,000 sq.ft. new store in Armagh at Spires Retail Park in an expansion which creates 10 new jobs.
This move sees Costa Coffee continue their expansion in Northern Ireland which started in 2004 at Belfast City through franchisee MBCC Foods.
TDK advised Costa Coffee on this acquisition and Mark Thallon Partner at TDK commented “The opening of the latest Costa Coffee store will be a great addition to Spires Retail Park and we fully expect it to complement the existing retail offer at the scheme. The Armagh unit is one of several we have been working on with Costa and follows on from openings in 2015 of units at Strabane, Boucher Sq, Belfast and Lisnagelvin SC, Londonderry. We have developed a strong pipeline of further stores which will be delivered over the next 18 months”.
EA Lonergan Ltd and TDK Property Consultants, are delighted to announce lettings to national restaurant operator Pizza Express and Caffé Nero for a new restaurant destination in Ballyhackamore, East Belfast.
Advised by TDK, EA Lonergan Ltd purchased the former Ulster Bank in Ballyhackamore and targeted restaurant national operators which would complement the strong offer already present in Ballyhackamore. Ballyhackamore is increasingly seen as one of the premier restaurant destinations outside Belfast City Centre, with restaurants such a Graze, Il Pirata, Greens and Little Wing already present and trading strongly.
Demand for the 2 units was strong and legals are now exchanged with Pizza Express, for their 4th unit in Northern Ireland after Victoria Sq, Bedford St and Lisburn Road and Caffé Nero, the well-known national coffee chain which has a number of units in Northern Ireland.
Construction is currently underway with the units due to open in early Spring 2016.
Ciara Lewis of EA Lonergan Ltd commented “working with TDK we were delighted to identify this location to roll out another restaurant destination. Ballyhackamore is an extremely strong location and one which we are confident will benefit from the presence of Pizza Express and Caffe Nero”
Mark Thallon of TDK commented “The Food and Beverage sector is undergoing a renaissance in Belfast and EA Lonergan Ltd are at the forefront of developing purpose built destinations. We are delighted to again have advised on this latest development, securing pre-lets and look forward to developing this concept in other locations.”
Alterity Developments and TDK Property Consultants are delighted to announce an additional restaurant unit in Boucher Square, Belfast.
Prezzo are taking a further unit that will be built at the Boucher Square Development. Planning has been applied for the extra unit and if all goes well it could be open in Autumn 2016. Boucher Square opened in July and is currently let to Frankie and Benny’s, Costa Coffee and Ed’s Easy Diner with Nandos opening on the 27th January.
Mark Thallon of TDK commented “we have been absolutely delighted with the success of Boucher Square which has meant us having to look at ways to try and meet the demand for operators wanting a presence in the scheme. Prezzo are a fantastic operation who will complement the other national restaurant operators already there”.
Prezzo (“price” in Italian) is a chain of Italian Restaurants in the United Kingdom. The first restaurant opened on New Oxford Street, London in November 2000. There are now more than 200 branches across the country. They currently have one unit in Northern Ireland in Victoria Square.
TDK have been appointed joint letting agents of an exciting new restaurant and leisure development at Abbey Retail Park, Newtownabbey by Hammerson.
Abbey Retail Park is one of the strongest Retail Park schemes in Greater Belfast currently comprising 250,000 sq.ft. and attracting over 200,000 cars per month. The scheme currently occupies Tesco, B&Q, Carpetright, Currys and PCWorld.
The restaurant terrace will comprise 4 new units and Hammerson are committed to developing the units to facilitate a Q4 2016 opening date and will complement the retail offer at Abbey Retail Park and the surrounding 1 million plus sq.ft. of neighboring retail including Abbeycentre and Longwood Retail Park.
Commenting on the instruction Mark Thallon Retail Partner at TDK said “We believe this exciting scheme will satisfy the existing demand from Food and Beverage operators currently looking to aggressively expand in Greater Belfast and across NI. This has been demonstrated recently in other schemes leisure schemes including Boucher Sq and Lisburn Leisure that TDK have been involved in. We are delighted with the initial level of interest received from established national and local catering operators and we are close to agreeing terms on the first unit to a national chain” The scheme will provide in excess of 12,000 sq.ft. of space and the completed units will be built to a high specification to include high level glazing, external seating areas and will benefit from in excess of 100 on site parking spaces.
Leading fashion retailer H&M have opened a new 16,000 sq ft store at Marshes SC Dundalk, in a deal negotiated by TDK.
Marshes is the dominant shopping centre in Dundalk comprising over 250,000 sq ft. The centre is anchored by Penneys (65,000 sq ft) and Dunnes (75,000 sq ft) and has over 40 top retail brands & food offers with approximately 4 million customers visiting the centre each year.