Forsyth House, East Bridge Street / Cromac Street,

Features

• City Centre Multi-Let Investment with Long Income
• Offers in excess of £11,150,000, exclusive of VAT and subject to contract

Executive Summary
City Centre Multi-Let Investment with Long Income

• Forsyth House is in the heart of Belfast City Centre, close to the law courts and Donegall Square
• 46,457 sq ft of fully let offices and ground floor retail
• Newly constructed in 2005, with an EPC B
• 9.31 years WAULB (Weighted Average Unexpired Lease Term to Break)
• Gross income of £832,758 per annum
• Low average office rent of £18.74 per sq ft
• £11,150,000 reflecting a Net Initial Yield of 7% (after purchaser’s costs) and a £240 per sq ft capital value

The building enjoys a dedicated ground floor reception with lift access to the upper floors which enjoy impressive panoramic views across the city centre. The building has been finished to an excellent high standard throughout.

The property was constructed in 2005. The replacement of the communal AHU and the installation of a new Air Source Heat Pump will be completed in 2023:

• EPC B
• Brand new Air Handling Plant and Air Source Heat Pump
• New system designed in compliance with BCO 2023 guidance
• M&E now capable of supporting an occupational density of 1:8
• Feature reception
• 2.8 m floor to ceiling height
• Raised access floors and suspended ceiling
• Fully air conditioned
• Secure basement car parking with 18 spaces, cycling parking and shower block

Proposal
£11,150,000 reflecting a Net Initial Yield of 7% (after purchaser’s costs) and a £240 per sq ft capital value.

Data Room
Data Room available on request.

VAT
The property is registered for VAT and therefore, it is envisaged that the sale will be treated as a Transfer of Going Concern (TOGC).

Directions

The subject property occupies a highly prominent location at the junction of East Bridge Street and Cromac Street, adjacent to St George's Market in one of Belfasts' most popular office areas.

The building is situated adjacent to Laganside which has been responsible for generating in excess of £800 million of investment since its inception. Forsyth House is within a short walk of Lanyon Station, the Waterfront Hall & Conference Centre, Victoria Square Shopping Centre and a few minutes walk from Belfast City Hall.

Forsyth House benefits from excellent proximity to a number of large car parks and is ideally located for easy access to the arterial road network, George Best Belfast City Airport and the M1/M2 motorways. The success of the area is evidenced by the number of major occupiers located nearby which include BT, Microfocus, Pinsent Masons, Shoosmiths and KPMG.