35-37 Bow Street, Lisburn

Description

The retail unit comprises of c3,804 Sq. Ft (NIA) and has been fitted out by Tesco to their very high corporate specification. The ground floor comprises a retail area with a rear storage area. Stairs lead to staff offices and a canteen on the first floor.

Price

We are seeking offers in the region of £595,000. An acquisition at this level would reflect a net initial yield of 6.72%, after purchaser costs of 4.73%.

Rates

We are advised by Land and Property Services that the current NAV is £36,400.00 for this unit in 2025/2026. Estimated Non-Domestic Rates Bill is c. £19,917.50.

VAT

The Vendors do not believe that any election to waive the VAT exemption has been made to HMRC and as such do not believe that the purchase price will attract VAT.

Accommodation

The retail unit comprises of c3,804 Sq. Ft.

Contact

Stephen Deyermond
028 9089 4065
stephen.deyermond@tdkproperty.com

Location

Lisburn is a very desirable and growing conurbation, with a population of 149,000 in the Lisburn and Castlereagh Borough in the 2021 census.

The property occupies a highly prominent position on Bow Street, the main pedestrian retail pitch in Lisburn, and benefits from high football. Surrounding occupiers include, River Island, Holland & Barratt, Bob and Berts, Bon Marche, Waterstones, Poundstretcher, Boots and Caffe Nero.

Lease

Let to fantastic covenant, Tesco Stores Limited, for a period of 15 years from 24th January 2024 on a full repairing and insuring basis at a passing rent of £42,000 per annum. There are tenant only break clauses at years 5 and 10. A copy of the lease is available upon request

EPC

A copy of the EPC Certificate can be made available upon request.

Attachments