Portfolio Of Seven Investment Opportunities Brought To Market
27th November 2018
Leading commercial property agent, Lisney, has brought an investment portfolio of seven properties in rural locations across Northern Ireland to the market.
Most of the assets comprise a filling station and convenience store with several incorporating additional retail units and residential development opportunities.
The assets within the portfolio total over five acres with a combined asking price of £4.7m.
The portfolio includes:
4-6 Downpatrick Road and 1-6 Irish Street, Killyleagh
0.63 acres comprising a filling station and convenience store let to Henderson Retail Ltd. until 21 September 2036; a vacant bungalow, garage and gardens in need of refurbishment; and a vacant two storey commercial and residential building also in need of refurbishment. This asset is available in one, two or three lots.
34-36 Rathfriland Road, Dromara
8 acre filling station and convenience store let to Henderson Retail Ltd. until 21 September 2036 and a smaller shop unit currently sublet to off license retailer, Wineflair.
119/125 Drumaness Road, Drumaness
91 acres comprising filling station and convenience store plus a vacant shop unit; and a three bed bungalow and land currently let to a tenant. This asset is potentially available in one or two lots.
2-4 Main Street, Clough
one acre two storey filling station and convenience store and three retail units predominately let to Henderson Retail Ltd.
5-15 Mill Road, Crumlin
Filling station and convenience store let to Henderson Retail Ltd, NFU and Randox, with adjoining let and vacant commercial assets. There are potential development angles.
David McNellis, Director at Lisney Northern Ireland, which specialises in office, retail, leisure and industrial property acquisition, disposal and investment, said:
“This is a really interesting portfolio to come to the market, particularly as all but two of the seven opportunities are let to Henderson Retail Ltd. with 18 remaining years on the lease.
“Each of these assets generate significant income every year, however, with asset management strategies, there is potential to further grow the income generated.
“Acting as the sole agent on behalf of the seller, we are expecting significant interest from local investors given the combination of commercial and residential assets.
“These assets present an excellent opportunity for investors.”
Lisney was recently named Commercial Estate Agency of the Year at the 2018 Belfast Telegraph Property Awards.