Prominent High Street Retail Unit with “Food Store Consent”

The property (which prior to its recent refurbishment was occupied by Wellworths and more recently Supervalu) is currently partially occupied by the Post office and is available as one unit or can be sub-divided to allow the first floor to be separately accessed and serviced. The Post Office can remain in occupation of part of the ground floor to compliment a new retailer or full vacant possession can be offered. The property which has been designed to promote active retail at both levels benefits from 3 high speed lifts, 2 service lifts, 2 heavy goods lifts, numerous retail flow staircases and excellent natural light. The first floor can be self contained and is therefore also suitable for alternative uses including leisure and offices. The owner can also offer an on and off sales licence if required.

Schedule of Accomodation

Ground Floor (inc balcony and outdoor sales area) c. 14,000 sq ft / 1,300.6 sq m
First Floor c. 2,144 sq ft / 199.2 sq m
Mezzanine Floor c. 11,502 sq ft  / 1,068.6 sq m
First Floor Balcony c. 354 sq ft / 32.9 sq m
Total First Floor c. 14,000 sq ft / 1,300.6 m
Total c 28,000 sq ft / 1,421.4 sq m

Location

This property is undoubtedly one of Portadown’s landmarks and is located in the heart of the town centre, directly opposite the entrance to High Street Mall (largest shopping centre within Portadown). Portadown is located 20 mins from Belfast, benefits from a population of 80,700 persons and a catchment in excess of 235,000. The property benefits from excellent frontage onto High Street and a prominent rear access facing a public car park which leads to the Meadows Shopping Centre and in turn accesses over 1,000 car parking spaces. Retailers within the immediate area include Mothercare, Tesco, JR McMahons, Iceland and Top Shop.

Further Details

Term
By negotiation

Rent
Ground Floor: £196,000 per annum exclusive
First Floor:  £140,000 per annum exclusive

Rent Review
Every 5th year in an upwards only direction

Repairs
The tenant is responsible for internal repairs

Service Charge
In the event that the building is subdivided a service charge will be levied to cover the cost of maintaining communal elements within the building.

Insurance
The tenant is responsible for reimbursing the landlord with a fair proportion of the insurance premium for the building.

Rates
We have been advised by Land & Property Services that the net annual value of the property is to be reassessed.

Value Added Tax
The subject property is registered for VAT.

Price
On Application

Stamp duty
This will be the responsibility of the purchaser