FOR SALESouthern ITEC Business Park52 Armagh Road, Newry, BT35 6HL

Asset Management Opportunities

s52 Armagh Road, Newry, BT35 6HL

WWW.CBRE.CO.UK/NI2

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centre.

Prominent site with good road frontage onto Armagh Road

Provides 29,092 sq. ft

accommodation on 2 acre site

Currently generating a net income of £77,055 per annum , with reversionary potential through re-letting vacant units

Current tenants include Southern Health Trust and Maypole Interiors

Strong underlying residual value with potential for future redevelopment to retail, residential or other uses, subject to planning

£750,000, subject to contract, for our client’s freehold

an attractive net initial yield of 9.75% and a capital value of £25.78 per sq. ft. Location

from its gateway position on the Belfast to Dublin transport corridor. The excellent transport network has been further improved by the completion of the motorway from Dundalk to Newry, allowing full motorway access to the north of Dublin.

Dublin is located 67 miles south and Belfast is 37 miles north of Newry. Newry is a popular tourist area giving access to the Mourne Mountains and Carlingford Lough and is also well located in terms of port services at Warrenpoint, which provides shipping links with markets in Great Britain and Europe.

Investment Summary

52 Armagh Road, Newry, BT35 6HL

WWW.CBRE.CO.UK/NI3

*For indicative purposes only.

Long leasehold substations

Location Plan Site Plan

Dublin

Belfast

A1

NewryRailwayStation

Daisy Hill Hospital

St JosephsHigh School

FivewaysServiceStation

DamollyRetail Park

TescoExtra

s52 Armagh Road, Newry, BT35 6HL

WWW.CBRE.CO.UK/NI4

Situation The Property is prominently situated with frontage on to Armagh Road, one of the main arterial roads into the city from the A1 and the Fiveways roundabout. The property is situated approximately 1 mile from the A1 and 0.75 miles from the city centre.

The surrounding area is mainly residential in character interspersed with commercial uses. Nearby occupiers include Damolly Retail Park, Fiveways Filling Station and a number of other industrial occupiers.

Description

with industrial accommodation to the rear, all on a site extending to some 2 acres.

tenants, with unit sizes ranging from 200 – 550 sq ft. There are 10 self-contained industrial and showroom units, ranging in size from 1,500 – 6,600 sq ft. The total accommodation extends to some 29,092 sq ft.

Given the prominent roadside location the Property may be suitable for redevelopment to retail,

also be suitable for future single occupancy.

TenancyThe property is let to 18 individual tenants including Southern Health Trust and Maypole Interiors as well as a range of

schedule is available on request.

The property generates a net income (after landlord costs) in the region of £77,055 per annum. A detailed tenancy and costs schedule is available on request.

s52 Armagh Road, Newry, BT35 6HL

WWW CBRE.CO.UK/NI5

Redevelopment OpportunityThe Property is under the jurisdiction of the Ban-bridge / Newry & Mourne Area Plan 2015 and is designated as ‘White Land’ and therefore has not

Given its prominent roadside location, the Prop -erty may be suitable for redevelopment to retail, residential or other commercial uses subject to

-ment to future single occupancy.

Tenure The property is held freehold. Two substations are let long leasehold.

UNIT EPC RATING

Unit 10 C57

D100

Industrial Units G185

SPVThe property is currently held within a single asset Special Purchase Vehicle (SPV). The vendor will be

100% of the share capital in this vehicle. Further information is available on request.

considering o�ers on the basis of a purchase of

s52 Armagh Road, Newry, BT35 6HL

WWW.CBRE.CO.UK/NI6

VATThe property is registered for VAT and therefore VAT will be payable on the purchase price. It is envisaged the sale will be treated as a transfer of a going concern (TOGC).

Proposal £750,000 ,

subject to contract and exclusive of VAT, for our client’s freehold interest. A purchase at this level

and capital value of £25.78 per sq. ft assuming purchasers costs of 5.40%.

Declaration of InterestUnder Section 21 of the Estate Agents Act 1979 (declaration of interest) we have a duty to inform potential purchasers of this property that the ven-dor is related to an employee of CBRE.

The Linenhall 32-38 Linenhall Street Belfast, BT2 8BG

T: 028 9043 8555

Contact

Gavin ElliottCapital Markets

E: gavin.elliott@cbre.comT: 028 9043 6750M: 077 9626 2382

Andrew CogginsCapital Markets

E: andrew.coggins@cbre.comT: 028 9043 6915M: 074 6869 7290

DISCLAIMER: CBREThese particulars are issued by CBRE on the understanding that any negotiations relating to the property are conducted through them. Whilst every care is taken in preparing them, CBRE for themselves

or contract, (ii) any representation including descriptions, dimensions, references to condition, permissions or licenses for uses or occupation, access or any other details are given in good faith and are believed to be correct, but any intending purchaser or tenant should not rely on them as statements or representations of fact but must satisfy themselves (at their own expense) as to their correctness, (iii) neither CBRE, nor any of their employees have any authority to make any or give any representation or warranty in relation to the property. May 2017.

will re�ect an attractive net initial yield of 9.75%