DeCourcy Shopping Centre, Carrickfergus, BT38 8AG

Offers in excess of £1.6m 

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Property Description

  • Excellent provincial town centre retail scheme
  • Current Net income £231,860 p.a exc (£221,660 p.a exc as of August 21)
  • Tenants include Iceland, Home Bargains, New Look and Poundstretcher
  • Total Area c. 54,000 sq ft on a site of approximately 2.4 acres

Carrickfergus has a population of c. 40,000 and a wider catchment of c. 100,000 within a 15 minute drive. 

The town is located 10 miles north east of Belfast and benefits from excellent communication links, with convenient access to the A2, M5 and M2 motorways and NIR rail networks. Mid and East Antrim Council Civic Centre is immediately adjacent to the property. 

Tesco, Sainsbury’s, Lidl and Marks and Spencers are all located within the town.

DeCourcy Shopping Centre is located in the heart of the town centre and forms the principle retail pitch within the town.  Adjacent high street retailers include Poundland and Savers.  The scheme is anchored by Iceland, Home Bargains and Poundstretcher and comprises a modern single storey mall with over 300 free nearby car parking spaces.

Covenant Information

In excess of 70% of rental income is generated from multi-national retail operators including Home Bargains, Iceland and Card Factory.

Asset Management
Opportunities to extend and regear existing tenants lease terms to ensure long-term commitment, specifically Home Bargains and Bonmarché.  Options to explore temporary lettings/pop-up opportunities for the vacant units in order to reduce landlord liability and increase net income.

There are options for potential alternative uses by repurposing an element of the scheme for leisure, office or residential use subject to planning.

Tenure
Title to the DeCourcy Centre comprises a mixture of freehold and leasehold land registered under Folios AN42020, AN49362L, AN156093L and AN49363 all County Antrim.

Proposal
We are instructed to seek offers in excess of £1.6m subject to Contract and exclusive of VAT, reflecting a Net Initial Yield of 13.65% after deduction of standard purchaser’s costs of 6.14%. This would reflect a low capital value of approximately £29.72 per sq ft.

VAT
It is envisaged the sale will be treated as Transfer of a Going Concern (TOGC).

Additional Information
A soft legal pack including lease and title will be provided to genuine interested parties.

Viewing
Viewing by appointment only via the Joint Agents.

EPC
EPC’S range from B46 to E118. Full copies available on request.

Joint Agent
Mark Thallon - TDK

Description Area
Total Area:

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