8 & 8A Marcus Square Newry , BT34 1AE

Additional Information

PROMINENT INVESTMENT REDEVELOPMENT OPPORTUNITY IN CITY CENTRE (TENANT NOT AFFECTED) (8,814 SQFT)

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 corner site in Newry City Centre with frontage to both Marcus Square and The Mall. Other occupiers in this location include Thomas Cook, Newry Credit Union, Danske Bank, Supervalu and the Translink bus station.
Potential for redevelopment of upper floors into alternative accommodation (STP) - see attached schematic drawings.

ACCOMMODATION

Ground Floor:

Retail Area                    4,090sqft

Storage Area                    1,100sqft     

Storage Area (First Floor)  948sqft

First Floor: - vacant

Storage                            1,381sqft        

Second Floor: - vacant

Storage                            1,295sqft

LEASE DETAILS - GROUND FLOOR

Tenant                    -         Menarys

Lease Expiry           -         February 2024

Passing Rent          -         £32,000 per Annum

GUIDE PRICE

Offers over £395,000

VAT

Outgoings are inclusive but may be liable to VAT.

NAV

8 Marcus Square – We are verbally advised that the NAV of the property is: £36,500.

The commercial rate in the pound for 2023/24 is £0.5152.

 
8A Marcus Square – We are verbally advised that the NAV of the property is: £1,050.

The commercial rate in the pound for 2023/24 is £0.5152. 

EPC

8 - https://find-energy-certificate.service.gov.uk/energy-certificate/1723-8932-0952-2526-7828 G-296
8A - https://find-energy-certificate.service.gov.uk/energy-certificate/9945-8357-3676-3604-9423 C-72

 
VIEWING

Gerard Kelly         07796947736          gerard@bestpropertyservices.com

Ryan McBride                                       ryan@bestpropertyservices.com