Posted on Monday 13 June 2016 by Ulster Business
The Iceland store on the Antrim Road in Belfast
A portfolio of four retail properties in Belfast are being put on the market by agents Osborne King for nearly £6m.
The buildings – on the Antrim Road, Shankill Road, Newtownards Road and Finaghy Road South - are currently let to supermarket Iceland Foods and are being marketed as individual investments.
Iceland has a 25-year lease on the properties which started in February 2005 and which contains “guaranteed minimum uplifts” at rent reviews scheduled for 2020 and 2025.
Prices for the buildings range from £1.59m to £1.27m and they should attract interest from hungry investors, 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.”