O'Connor, Kennedy, Turtle

City Centre Development Opportunity

This unique development opportunity is strategically located on Cromac Street at its junction with the Ormeau Road and Ormeau Avenue. It is positioned adjoining the Lucas Building and opposite The Gasworks, a mixed use commercial development.

The immediate area is one of Belfast’s main thoroughfares and arterial routes being only a short distance from the City Hall and the Central Business District.

The subject comprises a rare opportunity to acquire a city centre holding with potential to develop an iconic building in a superb gateway location.

The site is highly prominent and suitable for a wide variety of uses, subject to planning.
The holding comprises three adjoining terrace buildings known as 161—169 Cromac Street. These are arranged over ground, first and second floors and benefit from rear access via Joy Street.

The opportunity will be sold with the benefit of vacant possession.

Accommodation

161—165 CROMAC STREET

GROUND FLOOR – C. 160 sq m (C. 1,722 sq ft)
FIRST FLOOR – C. 144 sq m (C. 1,,550 sq ft)
SECOND FLOOR – C. 144 sq m (C. 1,550 sq ft)
TOTAL AREA – C. 448 sq m (C. 4,,822 sq ft)

167 CROMAC STREET: Floor area not measured due to condition
169 CROMAC STREET: Floor area not measured due to condition

Site & Proposed Development

The subject holding extends to c. 403 sq m (0.1 acres).

Sales Details

PRICE: £1,000,000
TITLE: We assume the property is held under freehold title

NAV / Capital Value

We are advised that the current NAV’s for the subject property are as follows:

161—165 Cromac Street £11,000 169 Cromac Street £1,450

The commercial rate in the pound for 2022 / 2023 is £0.551045.

Please note that all perspective purchasers should make their own enquiries to confirm the NAV / rates payable.

VAT

All prices, outgoings etc are exclusive of, but may be subject to VAT