2-8 Newry Street &, 1-5 Rathfriland Street Banbridge, BT32 3EA

Prominent Fully Let Retail Investment

A landmark commercial premises occupying a significant site at the very heart of Banbridge Town Centre. The property comprises an extensive end terrace three storey over basement commercial unit with three additional ground floor retail units. An exciting investment asset anchored by Menarys (9 years remaining), plus 3 fully let retail units on Rathfriland Street. Passing rent is £104,000 p.a.x. rising to £114,000 p.a.x in October 2026. A rare opportunity to acquire such a substatial commercial holding in Banbride Town Centre.

Location

Banbridge is situated approximately 25 miles southwest of Belfast, 15 miles north of Newry city and 12 miles east of Portadown with convenient access onto the A1 Dublin to Belfast dual carriageway. Banbridge serves as a commuter town to Belfast and Newry along with the surrounding towns and villages and the latest NISRA statistics estimate the population of Banbridge Local Government District was 17,400. The town offers a wide range of local amenities as well as a healthy retail offering with an abundance of local independent traders, complemented by The Boulevard Outlet Shopping Complex, Banbridge Retail Park, Tesco and Lidl supermarkets. The property occupies a prominent location on the corner of Newry Street and benefits from a return frontage onto Rathfriland Street. Newry Street comprises the main retailing thoroughfare in Banbridge town, with a number of high-profile occupiers, including SD Kells, Donaghys, New Look and Santander.

Description

The property comprises an extensive end terrace three storey over basement commercial unit with three additional ground floor retail units.

2-8 Newry Street

This end terrace three storey property is over basement, ground, first and second floors with trading on ground and first floors with additional storage at basement and second. All floors are accessed by either a staircase or passenger lift. The ground and first floor sales are predominantly open plan and finished to the Menary’s corporate fitout. Accommodation: Basement 1,489 Sq Ft / 138.32 Sq M Ground Floor 8,634 Sq Ft / 802.00 Sq M First Floor 8,317 Sq Ft / 772.60 Sq M Second Floor 1,762 Sq Ft / 163.60 Sq M Total 20,202 Sq Ft / 1,876.52 Sq M

1-5 Rathfriland Street

This part of the property is a separate building comprising of three individual ground floor retail units whilst the upper floors are connected to 2-8 Newry Street. The properties are fully fitted to the occupier’s specification. Accommodation: Unit 1 486 Sq Ft / 45.22 Sq M Unit 3 474 Sq Ft / 44.03 Sq M Unit 5 812 Sq Ft / 75.47 Sq M

Tenancy Schedule

2-8 Newry Street Tenant - Menary's Retail Ltd Lease Start Date - 01/10/2024 Lease End Date - 31/09/2034 Term - 10 year lease Next Review - 01/10/2029 Annual Rent - 01/10/25 - 31/09/26 = £75,000 p.a 01/10/26 onwards = £85,000 p.a 1 Rathfriland Street tenant - Southern Education & Library Board Lease start date - 01/04/2021 Lease end date - 31/03/2024 Term - 3 year lease over-holding Next Review - N/A Annual Rent - £10,000 3 Rathfriland Street tenant - Stephen Morton & Alan Wylie t/a Piggotts Lease start date - 01/04/2018 Lease end date - 31/03/2021 Term - 3 year lease over-holding Next Review - N/A Annual rent - £9,000 5 Rathfriland Street Tenant - Patrick Maginnis Lease Start Date - 11/09/2023 Lease End Date - 10/09/2026 Term - 3 year lease Next Renewal - N/A Annual Rent - £10,000 Passing Rent - £104,000

Rates

We have been advised by the Land and Property Services of the following rating information: 2-8 Newry Street - Net Annual Value £76,600 1 Rathfriland Street - Net Annual Value £6,600 3 Rathfriland Street Net Annual Value £5,850 5 Rathfriland Street - Net Annual Value £5,850

VAT

All prices, rentals and outgoings are quoted exclusive of VAT.

Title

Assumed Freehold

Solicitors

R. M Culen Solicitors 16-22 Edward St, Portadown BT62 3NA