Belfast, Boucher Square

Investment · For Sale
Prime Leisure Investment Opportunity
Tenants include Frankie & Benny's, Nandos, Eddie Rocket's, Costa Coffee, Five Guys and Slim Chickens
Net rent of £347,259 per annum after deduction of the current ground rent.
Prominent location opposite Boucher Retail Park

Details

The scheme comprises 6 units totalling 17,700 sq.ft with 132 on site parking spaces. The tenants include Frankie & Benny’s, Nandos, Eddie Rocket’s, Costa, Five Guys and Slim Chickens. The covenant strength of the occupiers is excellent. This prime leisure investment opportunity has a number of prominent retail schemes within close proximity, consisting of Shane Retail Park, Boucher Retail Park & Balmoral Plaza.

Offers in excess of £3,850,000.

We are instructed to seek offers in excess of £3,850,000 (Three Million Eight Hundred and Fifty Thousand Pounds Sterling) for our clients long leasehold interest. A purchase at this level reflects an attractive net initial yield of 8.47% after allowing for acquisition costs at 6.55% and a capital value of £211 per sq ft.

The property has been elected for VAT. It is envisaged the transaction will be treated as a TOGC.

 Tenant GIA (sqft)
Unit AThe Restaurant
Group (UK) Ltd
t/a Frankie &
Benny's
4,000
Unit BNando's Chickenland
Ltd t/a
Nando's
3,200
Unit CEddie Rockets
(Ireland) Ltd t/a
Eddie Rockets
3,000
Unit DMBCC Foods
(Ireland) Ltd
t/a Costa
2,000
Unit ERestrana (NI)
Ltd t/a Five
Guys
3,013
Unit FSC Hospitality
Limited t/a
Slims Chicken
2,500
Advertising Hoarding Clear Channel
N.I. Ltd

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

Boucher Square enjoys a prime location in South Belfast just off the M1 motorway and situated opposite the prestigious Boucher Retail Park, Belfast. Boucher is regarded as Northern Irelands premier Retail Warehouse location providing in excess of 1 million sq. ft. of retail space. It is located just off the M1 motorway providing excellent transport links to all parts of the province with a catchment of c. 770,000 within a 30 minute drive.

UnitTenant EPC Rating
Unit 1 Frankie & Benny’sC55
Unit 2 NandosB47
Unit 3 Eddie RocketsC56
Unit 4 Costa CoffeeC51
Unit 5 Five GuysC54
Unit 6 Slim ChickensC63

We have been advised that the site is held on a long leasehold from Belfast City Council for a term of 125 years from 1st September 1987, the current passing rent from Sept 2018 review is £96,000pa (£50,156 per acre).

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