Belfast, 20-21 & 23 Harbour Court, Sydenham Business Park, BT3 9LE

Price Upon Request Investment · For Sale
An excellent warehouse/office investment.
Modern units with on-site parking.
Close proximity to the city centre.
This investment is available either individually or combined.

Details

Units 20-21 Harbour Court – KCC Architectural occupy the entirety of units 20-21 within Harbour Court. This end terrace unit consists of steel portal frame construction. The requirements of the business were considered when designing the premises, comprising a trade counter, private/open plan offices and a store. At the front of the units, there is a surface car park and to the rear, there is a yard for servicing.

Unit 23 Harbour Court – Unit 23 is a mid-terrace business unit. This unit offers office accommodation that has been fully fitted on the first floor as well as the warehouse. There is a
surface car park at the front of the premises.

PROPOSAL

Units 20-21 – Offers invited over £670,000 (Six Hundred and Seventy Thousand Pounds) exclusive of VAT, reflecting a net initial yield of 8.51% after deduction of standard purchaser’s costs of 4.93%

Unit 23 – Offers invited over £285,000 (Two Hundred and Eighty-Five Thousand Pounds) exclusive of VAT, reflecting a net initial yield of 8.51% after deduction of standard purchaser’s costs of 2.81%.

The investments are available either individually or combined.

We have been advised by Land and Property Services that the NAVs of the units comprise the following:

Unit (s)NAV
20-21£32,900
23£15,600

The rate in the £ for 2022/23 in the Belfast City Council area is £0.551045.

All prices, rentals and outgoings are quoted net of VAT which may be chargeable.

Unit(s)FloorSq FtSq M
Units 20-21 Harbour Court Ground Floor Reception/Trade Counter 51648
Ground Floor Warehouse 5,543515
First Floor Offices, WC & Kitchen4,510419
Total 10,569982
Unit 23 Harbour Court Ground Floor Reception & Kitchen 75370
Ground Floor Warehouse 2,077193
First Floor Offices 1,603149
First Floor Storage 58154
Total 5,014466

Contact: Mark Thallon
Tel: 028 9089 4066
Mobile: 07802 520008
Email: mark.thallon@tdkproperty.com

Contact: Jamie Crichton
Tel: 028 9089 4067
Email: jamie.crichton@tdkproperty.com

The subject premises are located within Sydenham Business Park, accessed from Heron Road in Belfast Harbour Estate. Belfast City Centre is 3 miles northeast of Harbour Court. There are a range of well-known occupiers within Harbour Court consisting of Momentum, Aircon and Pinnacle and nearby occupiers include Otis Lifts, Phoenix Gas and Health and Social Care. This location benefits from good motorway networks and public transportation to Belfast City Airport and the city centre.

Units 20-21

Unit 23

 

Tenant KCC Door Hardware & Security Solutions Ltd
TermNew 15-year full repairing and insuring lease with a
tenant option to break at the anniversary of 10 years
subject to 6 months prior written notice.
RentUnits 20-21 - £60,000 pa plus VAT
Unit 23 - £25,000 pa plus VAT
Rent ReviewEvery 5th year in line with RPI capped
at 2% pa compounded.
Ground RentBalance of 120 year long lease from 2001 subject to an
annual ground rent which is payable by the tenant.
Units 20-21 - £11,904 pa plus VAT
Unit 23 - £5,560 pa plus VAT
Service ChargeCurrently estimated for 2021/2022 at £1,536 pa plus
VAT for units 20-21 and £716 pa plus VAT for unit 23
(Payable by the tenant).

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