RS-WS2
For Sale

Lyons House, 79-83 Main Street and 4-6 Castle Street, Bangor,

Co. Down, BT20 4HD
Offers in the region of
£1,100,000
Investment Property

Property Overview

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

EPC: D
Full EPC certificate available on request.

Accommodation

Unit / AddressDescriptionSQMSQ.FT.
1.) 79-83 Main StreetGround Floor / First Floor537 / 5335,785 / 5,735
2.) 4 Castle StreetGround Floor / First Floor28 / 27304 / 286
3.) 6 Castle StreetGround Floor / First Floor58 / 43626 / 465
* There is a second floor attic store. Not measured

Tenancy Schedule

UnitTenantRent PAXLease StartLease ExpiryRent ReviewBreak Option
1Boots UK Limited£65,00010.11.201609.11.20265 yearly upwards only09.11.2021 Not Exercised
2Joy Teer£8,50017.05.202116.05.2024-17.05.2022**
3Progressive Building Society£15,75001.08.201631.07.20265 yearly upwards only01.08.2021 Not Exercised
Total£89,250

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