1-21 Castlereagh Road comes to the market offering an excellent re-development opportunity. The site is located on the Castlereagh Road, one of Belfast´s busiest arterial routes heading east from Belfast city centre. The subject is located at the junction of Beersbridge Road and the immediate locality is populated with a mix of both commercial and residential uses.
The subject offers planning permission (granted in October 2012) for a redevelopment opportunity which comprises of the erection of three ground floor retail units and fourteen two bedroom apartments.
The site currently generates an income broken down as follows:
Terms & Length of Lease
1-11 JC Decaux £5,000 per annum in advance from 17th December 2014 for 4 years payable half yearly
13 Charter NI £85 per week for 3 years from 1st Jan 2015
15-17 Faith Mission Bookshop £700 per month from 16th Dec 2014 rising to £750 per month from 16th Dec 2017 to 16th Dec 2019
Total Annual Income - £17,820
Given the subjects proximity to Belfast city centre and recent sales in the area, we are confident that both commercial and residential development here will generate high levels of interest once complete.
Planning was granted under reference Z/2011/0988/F
Drawings can be viewed upon request
Disclaimer: The following calculations act as a guide only, and are based on a typical repayment mortgage model. Financial decisions should not be made based on these calculations and accuracy is not guaranteed. Always seek professional advice before making any financial decisions.