Lyons House, 79-83 Main Street and 4-6 Castle Street, Bangor,
Property Overview
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Lyons House is a large two-storey building of modern construction with red facing brick, part tiled and part flat roof, aluminium framed glazed shopfronts and windows. It is arranged to provide three retail units, the largest of which is Unit 1 with frontage onto Main Street whilst Units 2 & 3 are accessed from Castle Street.
The units provide retail accommodation at ground floor with ancillary accommodation at 1st floor. There is a service yard to the rear accessed via Castle Street whilst Unit1 benefits from dock level access for deliveries.
Lyons House is a large two-storey building of modern construction with red facing brick, part tiled and part flat roof, aluminium framed glazed shopfronts and windows. It is arranged to provide three retail units, the largest of which is Unit 1 with frontage onto Main Street whilst Units 2 & 3 are
- Prominent retail building occupying a prime corner site in the town centre.
- Fully let on FRI terms and anchored by Boots.
- Current rent of £89,250 p.a.x.
- WAULT of c. 5.17 years.
- Boots Main Street Bangor ranks in the top 15% of all UK pharmacies by prescriptions supplied.
- Offers in the region of £1,100,000 exclusive, subject to contract.
- Reflects a NIY of c. 7.66% after purchase costs of c. 5.85% and a capital value of £83 per sq.ft.
Accommodation
Accommodation
| Unit / Address | Description | SQM | SQ.FT. |
|---|---|---|---|
| 1.) 79-83 Main Street | Ground Floor / First Floor | 537 / 533 | 5,785 / 5,735 |
| 2.) 4 Castle Street | Ground Floor / First Floor | 28 / 27 | 304 / 286 |
| 3.) 6 Castle Street | Ground Floor / First Floor | 58 / 43 | 626 / 465 |
| * There is a second floor attic store. Not measured |
Tenancy Schedule
| Unit | Tenant | Rent PAX | Lease Start | Lease Expiry | Rent Review | Break Option |
|---|---|---|---|---|---|---|
| 1 | Boots UK Limited | £65,000 | 10.11.2016 | 09.11.2026 | 5 yearly upwards only | 09.11.2021 Not Exercised |
| 2 | Joy Teer | £8,500 | 17.05.2021 | 16.05.2024 | - | 17.05.2022** |
| 3 | Progressive Building Society | £15,750 | 01.08.2016 | 31.07.2026 | 5 yearly upwards only | 01.08.2021 Not Exercised |
| Total | £89,250 |
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