O'Connor, Kennedy, Turtle

3 – 5 Church Street Coleraine, County Londonderry, BT52 1AN

Ref: C1643 sold
Key Features
  • Excellent Opportunity To Acquire Two Prominent Ground Floor Retail Units

offers over £800,000

• The properties are located in Coleraine, County Londonderry, a key regional economic and retail hub only 11 miles (18 km) from the world–renowned Giant’s Causeway.
• The properties are situated in the town centre on Church Street, the prime retail pitch in Coleraine. The subjects are easily accessible from Northern Ireland’s road network and the associated rail and bus links.
• Total population within the 20–minute catchment area of 84,987 (source: Savills Research).
• Total consumer expenditure of £518 million per annum within a 20–minute catchment.
• The properties comprise the ground floor retail units only, of the 3 storey Moores of Coleraine building.
• The properties extend to approximately 4,811 sq. ft (446.97 sq.m).
• Let to exceptional tenants with strong covenants: JD Sports Fashion Plc & Edinburgh Woollen Mill Limited both of whom have 5A1 Dun & Bradstreet ratings

Accommodation

3 Church Street Total Area c. 216,27 sq m (2,328 sq ft)
5 Church Street Total Area c, 230.7 sq m (2,483 sq ft)

Lease Details

Please refer to attached brochure

Sales Details

We have been instructed to seek offers in excess of £800,000 (Eight Hundred Thousand Pounds). A purchase at this level reflects a net initial yield of 10.31% excluding VAT and assuming full purchaser’s costs at 5.49%

NAV / Capital Value

3 Church Street: £40,500 (£23,035 Payable)
5 Church Street: £42,100 (£23,945 Payable)

VAT

The property is registered for VAT and is therefore payable. It is envisaged that the sale will be treated as a transfer of a going concern (TOGC).


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