8512Sq Ft
Sold
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30 - 32 Lodge Road, Coleraine, BT52 1NB
Sold
C947
Newly Refurbished / Built Office Investment Property - Tenants : Moore (N.I.) LLP
Passing Rental £82,800 per annum
Parking for c. 24 cars to the rear parking area.
The subject property with generous parking for c. 24 cars is situated at the town side end of Lodge Road, which itself is well known as Coleraine’s traditional office district. Lodge Road, beyond the adjacent Coleraine Grammar School and the Fire Station opposite the subject, is a more residentially focused area providing many of the town’s most notable detached residential dwellings.
The immediate vicinity forms part of the Coleraine Town Centre Area of Townscape Character Neighbouring occupiers include Capital Trust Financial Management, G M Design Associates, Boyd & Logue Dental Surgery, and the Lodge Hotel.
Opportunity to acquire this newly refurbished / redeveloped landmark building set within Coleraine’s premier office sector core, with the benefit of a new 16 year lease on attractive commercial terms to Moore (N.I.) LLP a highly reputable and long established Northern Irish accounting firm, this to be their Flagship Headquarters Building in the northern counties of the Province, and the added attraction of a guarantee from Moore Kingston Smith LLP London.
The purchase price reflects a net initial yield of c. 7.9 %, which, for the long lease being offered here and the quality of the new build and front blocks entirety refurbishment, is exceptionally good value for any purchaser.
| Basement: | 1,356 Sq. Ft |
| Ground Floor: | 2,603 Sq. Ft |
| First Floor: | 2,724 Sq. Ft |
| Second Floor: | 1,108 Sq. Ft |
| Third Floor: | 711 Sq. Ft |
| Total | 8,512 Sq. Ft |
| Tenant: | Moore (N.I.) LLP with guarantor (See below) |
| Term: | A new 16 year lease from 7th August 2024. |
| Rent: | £82,800 per annum with 5 yearly upwards only rent reviews. |
| Break Option: | Tenant only at the 11th year of the term. |
| Guarantor: | Lease fully guaranteed by Moore Kingston Smith LLP London, one of the Top 10 Accountancy & Advisory practices in the UK. |
| PRICE: | Asking £1,000,000 |
| TITLE: | Freehold Ownership |
NAV / Capital Value
NAV: £35,200
Rates payable in the previous year by the tenant : £20,608.97
All perspective purchasers should make their own enquiries to confirm any rating queries.
VAT
All prices, outgoings etc are exclusive of, but may be subject to VAT.
30 - 32 Lodge Road, Coleraine, BT52 1NB
Coleraine Town Hall
5 Mins Walk
Bus / Railway Station
6 Mins Walk
The subject property is situated at the town side end of Lodge Road, which itself is well known as Coleraine’s traditional office district. Lodge Road, beyond the adjacent Coleraine Grammar School and the Fire Station opposite the subject, is a more residentially focused area providing many of the town’s most notable detached residential dwellings.
Accommodation Details
| Basement: | 1,356 Sq. Ft |
| Ground Floor: | 2,603 Sq. Ft |
| First Floor: | 2,724 Sq. Ft |
| Second Floor: | 1,108 Sq. Ft |
| Third Floor: | 711 Sq. Ft |
| Total | 8,512 Sq. Ft |
Lease Details
| Tenant: | Moore (N.I.) LLP with guarantor (See below) |
| Term: | A new 16 year lease from 7th August 2024. |
| Rent: | £82,800 per annum with 5 yearly upwards only rent reviews. |
| Break Option: | Tenant only at the 11th year of the term. |
| Guarantor: | Lease fully guaranteed by Moore Kingston Smith LLP London, one of the Top 10 Accountancy & Advisory practices in the UK. |
Sales Details
| PRICE: | Asking £1,000,000 |
| TITLE: | Freehold Ownership |
NAV / Capital Value
NAV: £35,200
Rates payable in the previous year by the tenant : £20,608.97
All perspective purchasers should make their own enquiries to confirm any rating queries.
VAT
All prices, outgoings etc are exclusive of, but may be subject to VAT.
30 - 32 Lodge Road, Coleraine, BT52 1NB
Coleraine Town Hall
5 Mins Walk
Bus / Railway Station
6 Mins Walk
The subject property is situated at the town side end of Lodge Road, which itself is well known as Coleraine’s traditional office district. Lodge Road, beyond the adjacent Coleraine Grammar School and the Fire Station opposite the subject, is a more residentially focused area providing many of the town’s most notable detached residential dwellings.