1 Conway Square & 1-7 Frances Street,

Features

• Multi Let Investment Opportunity
• Prime Location Fronting Conway Square & Frances Street
• Gross Income of £33,400 per annum
• Potential asset management opportunity
• Total floor area approx. 2,330 square feet / 216 square metres
• Possible Redevelopment Opportunity (Subject to Planning & Tenancies)

Location/Description

Newtownards is one of Northern Ireland leading provincial towns, located 10 miles east of Belfast. The subject is prominently positioned front Conway Square which is the main retail area in Newtownards. It benefits from a high level of passing pedestrian footfall. Nearby occupiers include Specsavers, Cafe Nero, Post Office, Stewart Millar and Gordons Chemists.

The property consists of a substantial part three storey building let to a mixture of well-established local businesses, with frontages to Conway Square, Frances Street and Lower Mary Street.

Tenancy Details

The building comprises five tenants producing a total gross income of £33,400 per annum, all on varying lease agreements. Potential asset management opportunity to maximise potential. For further information please contact the office.

Subject to tenancies and planning the overall site area of circa 0.06 acres could be suitable for redevelopment.

Schedule of Accommodation

Unit                                      Floor Area (sq ft)                                       Tenant (Trading as)       NAV             *EPC Rating
1 Conway Square              GF - 630, plus 1st & 2nd floor stores     Photo Monkey             £14,600                 D96
1 Frances Street                      N/A                                                      Advertising Hoarding       £600                  N/A
1-3 Frances Street             GF - 635    FF stores - 350                        Del Piero's                      £10,600                 F134
3a Frances Street               GF - 135                                                     Coles                               £2,350                  E103
5 Frances Street                 GF - 140                                                     Ards Locksmiths            £2,350                  E111
7 Frances Street                 GF -130                                                      Midas Jewellers              £2,350                  D84
7b Frances Street               FF - 310                                                     Vacant                             £1,600                 G265

* Full EPC copies available on request.

Title

We are advised the property is held under freehold / long leasehold title.

VAT

We understand the property is not liable for VAT.

Proposal

We are seeking offers in the region of £325,000 (Three Hundred and Twenty Five Thousand Pounds), subject to contract.