INVESTMENT PORTFOLIO GOES ON MARKET
14 June 2016A portfolio of four retail investments valued at almost £6 million goes on the market this week and selling agents, Osborne King, are expecting keen interest from local investors and further afield. Each of the properties is let to Iceland Foods Limited and they are being marketed as stand-alone investments. The stores are located on the Antrim Road, Shankill Road, Newtownards Road and Finaghy Road South, all of which are major arterial routes within Belfast with asking prices ranging from £1.59 million to £1.27 million.
According to Dave McClure of Osborne King :- ‘The local investment market has been starved of good quality product of late, particularly in respect of opportunities at the lower end of the market and thus interest has already been brisk with local cash- rich private investors recognising the quality of tenant and attractive unexpired lease term on offer’.
The properties have been let to Iceland Foods Limited for a term of 25 years since the end of February 2005 and contain guaranteed minimum uplifts at rent review in 2020 and 2025.