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30 / 32 Church Street, Coleraine, BT52 1AR
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File Ref: C1413
Town Centre Retail Investment
Double frontage / 2 storey property
5,389 sq ft
Currently producing £30,000 p.a.
EPC Rating D99
The subject has excellent double frontage onto the pedestrian area of the town. Church Street, together with the Diamond forms the main retail hub of the town, with steady footfall.
The property itself comprises a substantial 2 storey investment property with retail on both floors.
Regatta Ltd occupy the premises annum with c. 9 years unexpired on the existing lease.
Established in 1981, Regatta has 687 stores across the UK with an average annual turnover of c. £220M. The unit is finished to a high standard internally with Regatta’s corporate fit out.
| Ground Floor: | c. 257 sq m (2,767 sq ft) |
| First Floor: | c. 244 sq m (2,622 sq ft) |
| Total Net Internal Area: | c. 501 sq m (5,389 sq ft) |
Tenant: Regatta Ltd
Rent: £30,000 per annum for the first five years
Rent Review Date: 31.02.2027 Based on indexed rent unless the indexed rent is greater than £36,000 per annum.
Term: 10 years beginning on and including February 2022
Break Option: 31 January 2025 & 31.01.2027
Repairs: Tenant responsible for repairs and maintenance generally to condition survey level. Landlord to maintain the roof ( frequently checked and sorted)
PRICE: We are seeking offers over £400,000
TITLE: Assumed Freehold or Long Leasehold
NOTE: Potential to Purchase Neighbouring Lots as indicated on map above
1. 30–32 Church Street Investment producing £30,000 per annum
2.Site at Church Lane with planning permission for 9 no. residential units.
3.Cleared site at Church Lane with residential / commercial redevelopment potential STPP
4. 24 Church Street Investment producing £32,500 per annum
Further details available on request.
NAV / Capital Value
NAV: £46,600.
Estimated rates payable in accordance with LPS: £25,288.50.
Please note that all perspective purchasers should make their own enquiries to confirm the NAV / rates payable.
VAT
All prices, outgoings etc are exclusive of, but may be subject to VAT
30 / 32 Church Street, Coleraine, BT52 1AR
Coleraine is one of Northern Ireland’s leading provincial towns and provides a central focus for regional retail trade as the de facto core town within the Causeway Coast Area, which in addition to a local populous of over 56,000 sees typically over 2M visitors annually to the region to local tourist attractions
Accommodation Details
| Ground Floor: | c. 257 sq m (2,767 sq ft) |
| First Floor: | c. 244 sq m (2,622 sq ft) |
| Total Net Internal Area: | c. 501 sq m (5,389 sq ft) |
Lease Details
Tenant: Regatta Ltd
Rent: £30,000 per annum for the first five years
Rent Review Date: 31.02.2027 Based on indexed rent unless the indexed rent is greater than £36,000 per annum.
Term: 10 years beginning on and including February 2022
Break Option: 31 January 2025 & 31.01.2027
Repairs: Tenant responsible for repairs and maintenance generally to condition survey level. Landlord to maintain the roof ( frequently checked and sorted)
Sales Details
PRICE: We are seeking offers over £400,000
TITLE: Assumed Freehold or Long Leasehold
NOTE: Potential to Purchase Neighbouring Lots as indicated on map above
1. 30–32 Church Street Investment producing £30,000 per annum
2.Site at Church Lane with planning permission for 9 no. residential units.
3.Cleared site at Church Lane with residential / commercial redevelopment potential STPP
4. 24 Church Street Investment producing £32,500 per annum
Further details available on request.
NAV / Capital Value
NAV: £46,600.
Estimated rates payable in accordance with LPS: £25,288.50.
Please note that all perspective purchasers should make their own enquiries to confirm the NAV / rates payable.
VAT
All prices, outgoings etc are exclusive of, but may be subject to VAT
30 / 32 Church Street, Coleraine, BT52 1AR
Coleraine is one of Northern Ireland’s leading provincial towns and provides a central focus for regional retail trade as the de facto core town within the Causeway Coast Area, which in addition to a local populous of over 56,000 sees typically over 2M visitors annually to the region to local tourist attractions
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