LOCATION

Holywood is a popular commuter town 6 miles east of Belfast city centre. It lies within North Down & Ards Council area and benefits from good transport links via road, rail and bus to Belfast City Centre and Bangor.

The subject occupies a prominent location at the corner of Downshire Road and Church View within Holywood town centre. There are a mix of land uses in the immediate vicinity to include commercial / office uses and medium - high density residential dwellings. There are a range of convenience retail and dining offerings along High Street which is approx. 100 metres from the subject site.

The site comprises an irregular shape with frontage to Church View and Downshire Road. There are currently 3 buildings and a car park occupying the site some of which are partially occupied.

DESCRIPTION

10 Downshire Road - The Gospel Hall

Formerly known as the Downshire Road Hall this sits at the corner of Church View and Downshire Road and comprises a predominantly single storey flat roofed building which has been vacant for approximately 4 years.

12 Downshire Road - Residential Dwelling

Two storey, mid-terrace residential dwelling currently vacant.

14-20 Downshire Road - Office building & Car Park

Two Storey mid terrace office building incorporating an archway access to surface car park to the rear with capacity for up to c.30 cars. There is one tenant in the office building who is currently over holding.

ACCOMMODATION

The site area is 0.20 hectares (0.50 acres). We have been provided with measured areas of the 3 no. buildings on the site as follows:

LOT 1 - 10 Downshire Road - The Gospel Hall
· Ground Floor - 2,053 Sq Ft (190.7 Sq M)
· First Floor - 553 Sq Ft (51.4 Sq M)
· TOTAL - 2,606 Sq Ft (242.1 Sq M)

LOT 2 - 12 Downshire Road - Residential Dwelling
· Ground & First Floors - 1,281 Sq Ft (119 Sq M)

LOT 3 -14-20 Downshire Road - Office & Car Park
· No. 14 Ground & First Floors - 1,533 Sq Ft (142.5 Sq M)
· No. 14 Ground Floor - 385 Sq Ft (35.8 Sq M)
· No. 14 First Floor - 814 Sq Ft (75.6 Sq M)
· TOTAL - 2,732 Sq Ft - (253.9 Sq M)

· 18-20 Ground & First Floors - 499 Sq Ft (46.4 Sq M)
· 18-20 First Floor - 1,106 Sq Ft (102.8 Sq M)
· TOTAL - 1,605 Sq Ft (149.2 Sq M)

OVERALL TOTAL - £4,337 SQ FT (403.1 SQ M)

There are approximately 30 car parking spaces to the rear of 14-20 Downshire Road.

TENANCIES

14 Downshire Road - MC3 Investments are currently overholding paying £4,180 per annum. The original lease agreement was for 4 years expiring on 30th April 2010.

RATES

The subject properties have the following LPS (domestic & non-domestic) rating assessments based on the 2023 revaluation:

Property NAV Payable 22/23

10 Downshire Road - NAV - £10,100 / PAYABLE 22/23 - £5,275.53
12 Downshire Road - NAV - £150,000 / PAYABLE 22/23 - £1,228.80
14 Downshire Road - NAV - £13,700 / PAYABLE 22/23 - £7,155.51
14 Downshire Road - NAV - £3,900 / PAYABLE 22/23 - £2,036.97
14 Downshire Road - NAV - £7,450 / PAYABLE 22/23 - £3,891.41
18-20 Downshire Road - NAV - £6,250 / PAYABLE 22/23 - £3,264.38
18-20 Downshire Road - NAV £12,200 / PAYABLE 22/23 - £6,372.06

The rate in the pound for Ards and North Down is 0.5223.

Vacant units will benefit form 50% vacant relief. The units may also benefit from a 20% discount via small business relief. Further queries in this regard should be made to directly to LPS.

PLANNING

The site benefits from the following planning permission:

Application No: LA06/2020/0865/F

Description: Three storey apartment block containing 21 no. apartments (6 no. 1 bedroom and 15 no. 2 bedroom ), associated landscaping, access, car and cycle parking areas (including demolition of Downshire Road Church Hall and adjacent
office buildings)

Approval: 23 July 2021

VAT

All prices, Charges and rentals are quoted exclusive of VAT which may be chargeable.

PRICE

Offers are invited in excess of £1,250,000 exclusive.

Lot 1 - 10 downshire road £500,000
Lot 2 - 12 downshire road £150,000
Lot 3 - 14-20 downshire road £600,000

DATA ROOM

All relevant information can be viewed on the following dataroom:

https://10-20downshireroad.com

FURTHER INFORMATION

For more information or to arrange a viewing please contact:

Simon Brien
Simon Brien Residential
T: 07721 767777
E: sbrien@simonbrien.com

Thomas O'Doherty
Simon Brien Residential
T: 07771 707363
E: todoherty@simonbrien.com

Mark Riddell
Riddell McKibbin
T: 07920 186523
E: mark@riddellmckibbin.com

Martin McKibbin
T: 07715 269699
E: martin@riddellmckibbin.com