- Prominent Development Opportunity with the Benefit of Short Term Investment Income
Bangor is a thriving commuter town and popular tourist destination situated c. 12 miles east of Belfast City. The town has a residential population of approximately 25,000 with a wider catchment area in excess of 200,000 persons.
Bangor is well served by road communications being located on the main A2 providing links to Belfast and the A21 which provides links to the east of the province and Newtownards.
The subject comprises an extremely prominent site at the entrance to Bloomfield Shopping Centre and Bloomfield Road Roundabout, both of which benefit from high levels of passing vehicular traffic.
The opportunity comprises a prominent corner site extending to c. 0.3 acres with frontage onto the internal estate road for Bloomfield Shopping Centre with neighbouring tenants including McDonalds and Tesco.
The holding is currently occupied by a number of tenants arranged over two buildings including a single storey hot food unit and a two storey property currently trading as a bar, off licence and pool hall.
The subject has future potential, subject to planning, for a commercial or residential development. Alternatively, various asset management opportunities exist to include formalising longer term rental agreements to secure the current annual income of £86,000.
The subject is zoned as ‘white land’ within the local Area Plan and the holding benefits from full planning permission for the change of use of the hot food unit to a bookmakers office (Planning Ref: LA06/2016/1020/F).
PRICE: Offers in the region of £775,000
TITLE: Assumed to be held by way of freehold title.
All prices, outgoings etc are exclusive of, but may be subject to VAT.
© OKT 2013