Modern Office Investment – Strong Covenant / 10-Year FRI Lease

We are delighted to present this high-specification office investment opportunity located within one of Belfast’s leading office and industrial destinations. Pilots View forms part of the well-established Sydenham Business Park, situated off Heron Road within the Belfast Harbour Estate. The surrounding occupiers include Bombardier, BP, Phoenix Natural Gas, DfC, and CEM Systems, confirming the area’s strong corporate profile. The property lies approximately three miles from Belfast City Centre and a short distance from George Best Belfast City Airport, offering excellent connectivity to the M1, M2 and wider road network.

The property comprises a modern detached two-storey business unit extending to approximately 3,200 sq ft, with 17 allocated car-parking spaces. It is of steel portal-frame construction with solid concrete floors, finished externally in part metal cladding and part blockwork. Internally, the accommodation has been fitted to a very high specification throughout, including open-plan and cellular office layouts with air-conditioning, suspended ceilings, LED lighting, double-glazed windows and full data cabling. The presentation throughout is to a corporate standard, ready for continued occupation without expenditure.

The building is let in its entirety to Hurree Ltd, a Belfast-based software and technology company with a strong trading history and expanding international client base. The lease commenced on 15 March 2023 for a term of ten years. The current passing rent is £30,000 per annum. The agreement is on a Full Repairing and Insuring (FRI) basis, with the tenant responsible for all repairs, maintenance, insurance, rates and the ground rent payable to Belfast Harbour Commissioners. As a result, there are no operating or management costs for the landlord, and the rent represents a true net income.

At a guide price of £350,000, the investment reflects a net initial yield of approximately 8.1 %, which is highly competitive within the current Belfast office market. The property offers a secure five-year term certain, strong covenant quality and excellent asset fundamentals in a prime harbour-side location.

In summary, 15 Pilots View provides a hands-off, income-producing investment combining a modern specification, reputable tenant, and fully repairing lease structure. It represents an ideal acquisition for private and SIPP investors seeking a stable, low-maintenance return from a quality commercial asset in one of Belfast’s most accessible and established business environments.


Tenant: Hurree Limited Term: 10 Years Commencement: 15th March 2023 Current Rent: £30,000 per annum Repair: Tenant responsible for internal and external repairs Break: The tenant has the right to terminate the lease of the 5th anniversary Rent Review: Year 5

NAV: £42,900 RATES PAYABLE: £25,712.63 The tenant is responsible for payment of the rates during the period of their tenancy.

Seeking offers in the region of £350,000. An acquisition at this level would reflect a net initial yield of 8.13% after purchaser’s costs of 5.5%.

Long Leasehold with tenant responsible for Service Charge payable under Head Lease.