LOCATION Newry, designated a city in 2002 is strategically located on the economic corridor between Northern Ireland and the Republic of Ireland located approximately 38 miles south of Belfast and approximately 60 miles north of Dublin.
With a district population in excess of 90,000 people and benefiting from excellent transport links to the North and South of Ireland Leading to substantial cross border trade, Newry has experienced considerable expansion over recent years and is one of the country's foremost shopping destinations with an array of traditional independent traders and multi-national retailers in various retail schemes across the city to include The Quays Shopping Centre, Buttercrane Shopping Centre, Damolly Retail Park and Merchants Quay Retail Park.
The property occupies an excellent site in the middle of Newry City Centre with entrances at both Marcus Street and Hill Street.
Other occupiers in this location include Thomas Cook, Dunnes Stores, Danske Bank, Supervalu and the Translink bus station.
ACCOMMODATION Ground Floor: Retail Area - NIA 379.0m2 (4,090sqft) Storage Area - NIA 127.83m2 (1,100sqft)
Storage Area (First Floor) - NIA 88.08m2 ( 948sqft)
First Floor: Storage - NIA 128.34m2 (1,381sqft)
Second Floor: Storage - NIA 120.34m2 (1,295sqft)
LEASE DETAILS Tenant - Menarys Lease Expiry - September 2021 Passing Rent - £40,000 per Annum
The property is tenanted by Menarys which was founded in 1923. Following rapid expansion in the 1980's and 90's, Menarys now have 17 Menarys and Tempest stores, one store Support Centre and more than 360 members of staff.
GUIDE PRICE Offers in the Region of £420,000
NAV No 8 - We are verbally advised that the NAV is £40,200. The commercial rate in the £ for 2016/2017 is £0.56.
No 8A - We are verbally advised that the NAV is £1,650. The commercial rate in the £ for 2016/2017 is £0.56.
EPC Please contact the agent.
VENDORS SOLICITOR McShane & Co, 34 Hill Street, Newry, Co Down.
VAT All prices, rentals and outgoings are exclusive of but may be liable to VAT.
VIEWING Strictly by appointment. Daragh Mallon 07775576858 firstname.lastname@example.org Gerard Kelly 07796947736 email@example.com
Newry, designated a city in 2002 is strategically located on the economic corridor between Northern Ireland and the Republic of Ireland located approximately 38 miles south of Belfast and approximately 60 miles north of Dublin.
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Best Property Services are Chartered Surveyors, Estate Agents based in Newry, Northern Ireland. We have been selling commercial, landholdings & residential property in counties Down, Armagh & Tyrone and surrounding areas since 1890.