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2 Distillery Brae 13,348 SF 100% Leased Retail Building Londonderry BT47 6AN $579,590 ($43.42/SF) 7.82% Cap Rate
INVESTMENT HIGHLIGHTS
- Prominent & imposing building located adjacent to Derry Train Station
- Potential for redevelopment (STPP)
- Sits on a plot of c. 0.157 acres
- Straddling Spencer Road, Distillery Brae and Simpsons Brae
- Offers extraordinary views over the River Foyle
EXECUTIVE SUMMARY
First floor
Due to the split level nature of the building, although this floor is classed as first floor, this can also be classed as ground floor level from
Distillery Brae. The first floor comprises of two large open plan suites, both currently vacant.
The suites have been fitted out as a gym and a hair/beauty salon and are both in good condition.
Second floor
Due to the split level nature of the building, although this floor is classed as second floor, this can also be classed as ground floor level from Distillery Brae.
The second floor is fitted out as a serviced office scheme, comprising of a number of individual rooms created by stud walling.
Five of these suites are currently occupied.
A two bedroom apartment is accessed directly from Distillery Brae. This apartment is occupied.
Spencer Road
Access to the ‘attic’ space is directly from Spencer Road. This space is currently tenanted.
Due to the split level nature of the building, although this floor is classed as first floor, this can also be classed as ground floor level from
Distillery Brae. The first floor comprises of two large open plan suites, both currently vacant.
The suites have been fitted out as a gym and a hair/beauty salon and are both in good condition.
Second floor
Due to the split level nature of the building, although this floor is classed as second floor, this can also be classed as ground floor level from Distillery Brae.
The second floor is fitted out as a serviced office scheme, comprising of a number of individual rooms created by stud walling.
Five of these suites are currently occupied.
A two bedroom apartment is accessed directly from Distillery Brae. This apartment is occupied.
Spencer Road
Access to the ‘attic’ space is directly from Spencer Road. This space is currently tenanted.
PROPERTY FACTS
Sale Type
Investment
Sale Condition
Redevelopment Project
Property Type
Retail
Tenure
Freehold
Building Size
13,348 SF
Year Built
1960
Price
$579,590
Price Per SF
$43.42
Cap Rate
7.82%
NOI
$45,301
Percent Leased
100%
Building Height
2 Stories
Frontage
41’ on Spencer Road
AMENITIES
- 24 Hour Access
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NEARBY MAJOR RETAILERS
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VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
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2 Distillery Brae
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