60 University Street, Belfast, BT7 1HB

Property Details

Summary
Attractive 3 storey commercial property located in the Queens Quarter
Accommodation extends to 1,914 sq.ft approx.
Part income producing with potential to increase upon letting the vacant space
Suitable for investors / owner occupiers
Guide Price: £245,000 exclusive

Location
University Street links the Ormeau Road with University Road and runs through the heart of the University area in South Belfast. The subject property occupies a prominent position on University Street between the junction with Botanic Ave and Wolseley St in close proximity to Queen's University.

Surrounding occupiers include Ibis Hotel, Dukes Hotel, Fitzroy Church, Key Lets Estate Agents and a range of retailers and restaurants on Botanic Avenue and University
Road.

Description
The subject is an attractive Mid-Terrace commercial building arranged over 3 storeys. The property is Grade B2 Listed (HB26/27/049/A). Internally the property is well presented with finishes to include a combination of wooden / laminate / carpeted floors, plastered & painted walls, feature lighting, many original ornate features on the ground and first floor levels and the property also benefits from GFCH.

The property may also be suitable for a residential conversion with other neighbouring properties have been converted into apartments / short-stay accommodation.

The ground and first floors are both currently let on a 5 year lease from 01/09/22 with the rent increasing to £12,000 p.a in Sept 24. There is a further rent increase due in Sept 26 to £14,400 p.a. The top floor is currently vacant and would be suitable for an owner occupier or tenant.

Accommodation/Areas
The approximate Net Internal Areas of the property are as follows:
Ground Floor Entrance lobby, Front Treatment room, rear treatment room, staff, kitchen, WC & Storage. 59.29 Sq M 638 Sq Ft
First Floor Front Treatment Room, Middle Treatment Room, WC & Shower, Rear treatment room. 52.96 Sq M 570 Sq Ft
Second Floor Front Office, WC and rear office suite 65.55 Sq M 706 Sq Ft
Total 177.80 Sq M 1,914 Sq Ft

Non Domestic Rates
The subject property has the following LPS rating assessments: NAV Payable 24/25
Ground & First Floor £12,100 £4,889.92*
Second Floor £5,300 £3,116.68**
Combined £17,300 £8,006.60

Guide Price
Offers invited in the region of £245,000 exclusive.

VAT
All figures quoted are exclusive of VAT, which may be payable.