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144-146 Lisburn Rd 1,958 SF 100% Leased Retail Building Belfast BT9 6AJ $333,098 ($170.12/SF) 14.42% Cap Rate
INVESTMENT HIGHLIGHTS
- Prominent Commercial Building
- Town Centre Location
- Corner Plot
EXECUTIVE SUMMARY
The property consists of a 3-storey commercial building situated at a corner prominent position along the Lisburn Road. The building consists of 2 commercial units on the ground floor, one of which is let to a private tenant for the use of a barber shop whilst the other unit is currently vacant but has been renovated.
The first floor of the premises is currently vacant but was previously used as offices and may be suitable for conversion to residential subject to statutory consents. The 2nd floor is currently let to a tenant for residential use.
Planning
Please note that a planning application has been submitted to convert the first-floor office space into a 1-bedroom flat, similar the current flat above known as 2 Cussick Street. Application Reference: LA04/2024/0333/.
Guide Price
We have been instructed to seek offers in the region of £250,000 exclusive. This reflects a current Net Initial Yield of 6.80% with Purchasers cost of 2.3%. If the scheme is fully let, we would expect to see a Reversionary Yield of 14.42%.
The first floor of the premises is currently vacant but was previously used as offices and may be suitable for conversion to residential subject to statutory consents. The 2nd floor is currently let to a tenant for residential use.
Planning
Please note that a planning application has been submitted to convert the first-floor office space into a 1-bedroom flat, similar the current flat above known as 2 Cussick Street. Application Reference: LA04/2024/0333/.
Guide Price
We have been instructed to seek offers in the region of £250,000 exclusive. This reflects a current Net Initial Yield of 6.80% with Purchasers cost of 2.3%. If the scheme is fully let, we would expect to see a Reversionary Yield of 14.42%.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Building Size
1,958 SF
Year Built
1960
Price
$333,098
Price Per SF
$170.12
Cap Rate
14.42%
NOI
$48,033
Percent Leased
100%
Building Height
2 Stories
Frontage
43’ on Cussick Street
AMENITIES
- Corner Lot
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NEARBY MAJOR RETAILERS
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144-146 Lisburn Rd
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