FOR SALE PRIME PHARMACY INVESTMENT 156 - 160 ANDERSONSTOWN ROAD, BELFAST, BT11 9BY 156 - 160 ANDERSONSTOWN ROAD, BELFAST, BT11 9BY

INVESTMENT SUMMARY

• Prime Pharmacy investment opportunity situated fronting onto the bustling Andersonstown Road in Belfast. • Fully let to Galar Ireland Limited trading as Coopers Pharmacy from 11th October 2018 until 10th October 2035 (approx. 15 years unexpired). • Current rent of £54,000 per annum is subject to 5 yearly upwards only rent reviews. The lease also provides for full repairing and insuring lease terms. • Coopers Pharmacy is an independent family- owned pharmacy founded in 1985 and with four branches across Belfast. • The subject property is just 0.2 miles from Ballyowen Medical Centre. • The property comprises 3,713 sq ft over two levels and occupies a self-contained site extending to 0.18 acres. • We are instructed to seek offers in excess of £730,000 (Seven Hundred and Thirty Thousand Pounds Sterling) exclusive of VAT and subject to contract. • This represents an attractive Net Initial Yield of 7.02%, after deducting standard purchaser’s costs of 5.36%.

For identification purposes only 156 - 160 ANDERSONSTOWN ROAD, BELFAST, BT11 9BY

LOCATION Belfast is the capital of Northern Ireland with a population extending to approximately 650,000, the 15th largest city in the United Kingdom. The city is situated approximately 104 miles (167km) north of Dublin and 75 miles (121km) south east of Derry/Londonderry. Belfast benefits from an excellent road and transport network which includes the M1 and M2 motorways, four railway stations Subject Property and two airports providing ease of access to all major UK and European Cities. 156 - 160 ANDERSONSTOWN ROAD, BELFAST, BT11 9BY

SITUATION The subject property occupies a prominent corner fronting onto the bustling Andersonstown Road, approximately 3.5 miles from Belfast City Centre. Andersonstown Road is one of Belfast’s busiest thoroughfares, serving the west of the city and benefitting from high volumes of passing footfall and vehicular traffic. The property is situated next to the brand new £25 million Andersonstown Leisure Centre, equipped with water slides, surf machine, outdoor football pitches and a café. Adjacent to the leisure centre is Casement Park GAA Stadium which is earmarked for a major £110 million-pound redevelopment with a proposed spectator capacity of 34,500. Ballyowen Health Centre is also situated on the Andersonstown Road, approximately 300 metres to the west of the subject property. The immediate area is characterised by a mix of retail, professional offices, restaurants and a high density of residential dwellings. Nearby occupiers include Iceland, McGranaghan Estate Agents, Ladbrokes, and a Spar Petrol Filling Station. 156 - 160 ANDERSONSTOWN ROAD, BELFAST, BT11 9BY

DESCRIPTION

The property comprises a two-storey brick-built building, with a single storey façade, fronting onto the Andersonstown Road. The property is split over lower ground and ground floor with an extensive 10 meter frontage onto the Andersonstown Road and a 30 meter frontage onto Riverdale Park East. The property benefits from on-site car parking, for up to 8 vehicles, accessed via Riverdale Park East. The tenant has recently completed its store fit-out to an exceptionally high specification throughout, comprising a spacious and bright open plan shop floor, dispensary area and private consultation rooms. The lower ground floor comprises a range of offices and stores along with staff facilities.

ACCOMMODATION The approximate Net Internal Areas are as follows: -

DESCRIPTION AREA (SQ FT) AREA (SQ M)

LOWER GROUND FLOOR 1,420 131.89

GROUND FLOOR 2,293 213.06

TOTAL 3,713 344.95

The property occupies a site area of approximately 0.18 acres (0.40 hectares). For identification purposes only 156 - 160 ANDERSONSTOWN ROAD, BELFAST, BT11 9BY

COVENANT Coopers Pharmacy is a family-owned independent pharmacy group established in 1985 and operating from four branches across Belfast. Galar Ireland Limited (Company No: NI602307) is described by Creditsafe as Low Risk company and places it in the middle to upper 25% of 2,496 companies in the same industry.

TENANCY RATES AND EPC PROPOSAL The property is fully let to Galar Ireland Limited The property has an EPC rating of C70. We are instructed to seek offers in excess trading as Coopers Pharmacy from the 11th of £730,000 (Seven Hundred & Thirty October 2018 until 10th October 2035 (approx. 15 VAT Thousand Pounds Sterling) exclusive years unexpired) at £54,000 per annum, subject The property is elected for VAT. of VAT and subject to contract. to 5 yearly upwards only rent reviews and full It is anticipated that this transaction repairing and insuring lease terms. will be treated as a Transfer of a This represents an attractive Net Initial Going Concern. Yield of 7.02%, after deducting standard A copy of the lease is available on request. purchaser’s costs of 5.36%. TITLE Registered freehold. FURTHER INFORMATION For more information or to arrange a viewing please contact:

Brian Kidd Neil Mellon M: 07885 739063 M: 07957 388147 E: [email protected] E: [email protected]

Telfair House 87 - 89 Victoria Street Belfast, BT1 4PB WWW.FRAZERKIDD.CO.UK

Neil McShane M: 07798 873593‬ E: [email protected]

Ormeau Baths 18 Ormeau Avenue Belfast, BT2 8HS WWW.INPRIO.COM

DISCLAIMER Frazer Kidd LLP & InPrio Ltd for themselves and for the vendors of this property whose agents they are, give notice that (I) The particulars are set out as a general outline for the guidance of intending purchasers or lessees, and do not constitute part of an offer or contract; (ii) All descriptions, dimensions, references to condition and necessary permissions for use and occupation, and other details are given in good faith and are believed to be correct, but any intending purchasers or tenants should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the correctness of each of them; (Iii) No person in employment of Frazer Kidd LLP & InPrio Ltdhas any authority to make or give representations or warranty whatever in relation to this property October 2020