Bow House, 61-73 Bow Street, Lisburn, BT28 1BJ

Additional Information

• Lisburn is located 9 miles south west of Belfast and benefits from a catchment population in excess of 227,000 people.
• Lisburn has excellent road communications via the M1 motorway network and junctions 6 and 7.
• The subject property is located within the city centre on Bow Street, the prime retail pitch in Lisburn.
• The property comprises a 3 storey building, arranged to provide 5no. ground floor retail units and upper floor office accommodation.
• Let to occupiers including; The Department of Finance, Iceland Foods, O2, Vodafone and Card Factory.
• Currently providing a gross rent of £298,000 per annum and a net rent of £285,861 per annum.
• The scheme extends to 36,591 sq ft.
• The investment provides a WAULT of 3.08 years term certain and 4.16 years to lease expiry.
• We understand the property is held freehold.
• We are instructed to seek offers in excess of £2,500,000 (Two Million and Five Hundred Thousand Pounds Sterling) for our clients freehold interest excluding VAT.
• A purchase at this level would reflect an attractive net initial yield of 10.77% (assuming purchasers cost of 6.08%) and a reversionary yield of 12.00% (upon the letting of unit E).

The property comprises a 3 storey building, arranged to provide 5no. ground floor retail units with rear ancillary accommodation. The upper floors provide office accommodation over 2 floors accessed from Bow Street.

The property is of concrete frame construction. Internally, the retail units have been fitted out to each of the tenants own specification. The two upper floors, occupied by The Department of Finance and Personnel, are fitted out to a traditional office specification to include a mixture of cellular and open plan space. The offices benefit from a large entrance lobby and a passenger lift (recently upgraded), servicing all floors.

There is a service yard to the rear which can be accessed from a number of units

Directions

Bow House is situated at the end of the pedestrianised pitch of Bow Street, the prime retail location in Lisburn. Bow House is strategically positioned between the pedestrianised pitch of Bow Street and Bow Street Mall.