Alexandra House, 283-285 Upper Newtownards Road,

Property Highlights
Prominent retail and office investment in popular Ballyhackamore
Fully let producing £47,250 per annum exclusive
Greens Pizza and Eircom in occupation for approx. 12 & 23 years respectively.
Offers over £550,000 exclusive

Location
Alexandra House occupies a highly prominent position on the Upper Newtownards Road at its junction with Pasadena Gardens on the edge of Ballyhackamore, an affluent and desirable commercial and residential district approximately 3 miles east of Belfast city centre.
The Upper Newtownards Road forms an integral part of the Glider network (G1 east - west link). This stretch of the road is characterised by retail, office, F&B and licensed premises surrounded by high value residential dwellings, interspersed with educational and religious uses.
Occupiers along this pitch include Tesco, Caffe Nero, Pizza Express, The Mandarin and Il Pirata with Bloomfield Collegiate located to the rear of the property.

Description
Alexandra House comprises a two storey standalone commercial building with a large external area to the front and private off street car parking to the side.
The ground floor is currently a c.50 cover restaurant let to Greens Pizza and is fitted to their own specification. The external area to the front of their unit provides further
seating and is included in their demise.
The first floor comprises self contained office accommodation let to Eircom UK Limited and is fitted to their own corporate specification.
Greens Pizza and Eircom have been in occupation for approximately 12 and 23 years respectively with each having 4 no. designated car parking spaces.

Tenancy
Details of the occupational tenancy agreements are as follows:
Randal Foods Limited (T/A Greens Pizza) : Ground Floor : Lease Start 19/10/22 : Lease End 18/10/32 : Next Review 19/10/27 : Rent £32,750

Eircom UK Limited : First Floor : Lease Start 01/01/01 : Lease End 31/12/25 : Next Review n/a : Rent £14,500
Total Rent : £47,250
Copies of leases can be provided upon request.

Areas
The net internal areas of the subject units are as follows:
Floor Sq M Sq Ft
Ground Floor 117.24 1,262
First Floor 124.03 1,335
Total 241.27 2,597

Non Domestic Rates
Ground Floor: We are advised by LPS that the NAV is £26,600, resulting in rates payable for 2024/25 of approx. £15,943, excluding any reliefs that may be applicable.

First Floor : We are advised by LPS that the NAV is £10,700, resulting in rates payable for 2024/25 of approx. £6,413, excluding any reliefs that may be applicable.

VAT
The sale of the property will be treated as a TOGC.

Sales Proposal
We are seeking offers in excess of £550,000 exclusive.