52, Newtownards

Property Details

Location
Newtownards is a prosperous market town in Co. Down with a population of circa 30,000 people (2021 Census) situated approximately 10 miles east of Belfast and 5 miles south of Bangor being easily accessible by road and well served by public transport. The town has a strong retail offering with the subject property occupying a highly prominent position in the main retail pitch close to Conway Square benefitting from high volumes of pedestrian and vehicular traffic with neighbouring occupiers such as UPS Estate Agents, Nationwide, Mackey Opticians, Wardens, Knotts, Menarys and House Proud Furnishings.

Description
Three storey mid terrace commercial property with public on street car parking to the front. The ground floor is configured to provide open plan retail sales with a WC positioned to the rear and a door leading to a shared yard. It is finished to an excellent standard comprising tile floor coverings, timber and tile cladded walls, exposed and suspended ceilings with spot and pendant lighting and benefitting from a timber framed glazed shopfront and electric roller shutter. The first floor, which is accessed by an external staircase, comprises office, storage and WC facilities with further storage provision on the second floor.

Accommodation
The property provides the following approximate net internal area:

Description

Ground Floor 1,027 Sq Ft 95.41 Sq M
First Floor 1,108 Sq Ft 102.96 Sq M
Second Floor 510 Sq Ft 47.41 Sq M
Total 2,645 Sq Ft 245.78 Sq M


Salient Lease Details

Term: 5 years from 1st July 2023.
Rent: Years 1&2 - £15,000 pax, Years 3-5 - £18,000 pax, subject to contract.
Tenant Break Clause: On the 3rd anniversary of the term commencement date.
Repairs: Tenant has internal repairing obligations only.
Landlord responsible for the exterior structure.
Buildings Insurance: Tenant to contribute £800 pax towards the premium.

Non-Domestic Rates
We have been advised by Land & Property Services that the Net Annual Value for the property is £14,300 resulting in rates payable for 2024/25 of approximately £8,132 (excluding any reliefs that may be applicable).

VAT
We are advised that the property is not elected for VAT.