Alexandra House | 283-285 Upper Newtownards Rd
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Alexandra House 283-285 Upper Newtownards Rd
2,597 SF 100% Leased Office Building Belfast BT4 3JH £550,000 (£212/SF) 8.59% Net Initial Yield
Investment Highlights
- Alexandra House occupies a highly prominent position on the Upper Newtownards Road
- This stretch of the road is characterised by retail, office, F&B and licensed premises
- 3 miles east of Belfast city centre
Executive Summary
Alexandra House comprises a two storey standalone commercial building with a large external area to the front and private off street car parking to the side.
The ground floor is currently a c.50 cover restaurant let to Greens Pizza and is fitted to their own specification. The external area to the front of their unit provides further
seating and is included in their demise.
The first floor comprises self contained office accommodation let to Eircom UK Limited and is fitted to their own corporate specification.
Greens Pizza and Eircom have been in occupation for approximately 12 and 23 years respectively with each having 4 no. designated car parking spaces.
Tenancy
Details of the occupational tenancy agreements are as follows:
Randal Foods Limited (T/A Greens Pizza) : Ground Floor : Lease Start 19/10/22 : Lease End 18/10/32 : Next Review 19/10/27 : Rent £32,750
Eircom UK Limited : First Floor : Lease Start 01/01/01 : Lease End 31/12/25 : Next Review n/a : Rent £14,500
Total Rent : £47,250
Copies of leases can be provided upon request.
The ground floor is currently a c.50 cover restaurant let to Greens Pizza and is fitted to their own specification. The external area to the front of their unit provides further
seating and is included in their demise.
The first floor comprises self contained office accommodation let to Eircom UK Limited and is fitted to their own corporate specification.
Greens Pizza and Eircom have been in occupation for approximately 12 and 23 years respectively with each having 4 no. designated car parking spaces.
Tenancy
Details of the occupational tenancy agreements are as follows:
Randal Foods Limited (T/A Greens Pizza) : Ground Floor : Lease Start 19/10/22 : Lease End 18/10/32 : Next Review 19/10/27 : Rent £32,750
Eircom UK Limited : First Floor : Lease Start 01/01/01 : Lease End 31/12/25 : Next Review n/a : Rent £14,500
Total Rent : £47,250
Copies of leases can be provided upon request.
Property Facts
Sale Type
Investment
Property Type
Office
Tenure
Freehold
Building Size
2,597 SF
Building Class
B
Year Built
1995
Price
£550,000
Price Per SF
£212
Net Initial Yield
8.59%
NOI
£47,250
Percent Leased
100%
Number of Floors
2
Typical Floor Size
1,299 SF
Amenities
- Roller Shutters
1 of 1
-
Mark Riddell -
James Russell
-
Cushman & Wakefield
1 of 2
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
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Alexandra House | 283-285 Upper Newtownards Rd
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