A double bay, three-storey mid-terrace in the Stranmillis area of Belfast has gone on the market, providing commercial and residential opportunities for investors.
129 and 131 Stranmillis Road is priced at £675,000 and consists of two retail units while the upper floors features two three-bedrooms and one two-bedroom apartments.
The current retail units are occupied by a Subway store and an independent optician retail outlet.
The gross annual income is currently said to be £51,820 per year.
Danny McGeown of McGeown Estate Agents expects the property to be popular with investors. He added: “Investment activity in Northern Ireland commercial property has improved in recent months and this particular prime retail and investment opportunity offers secure income which should prove attractive to potential investors.
“There has been a trend of competitive bidding for small lots with attractive tenants like this investment.
“Fully let, this investment represents a net yield of 6.9% after allowing for purchase costs of 4.5% and deductions.”
Further development opportunities have presented themselves in south Belfast and Omagh. South Belfast’s Beechill Business Park on the Beechill Road has gone on the market with Osborne King for £2 million. The property includes Linden House, a 16,000 sq ft office with a range of tenants. Springboard Business Centre is also for sale, an office space set out over 3,817 sq ft.
A residential site of 16.72 acres at the new Strathroy Link road in Omagh is now on the market. This site is located beside the £160m Strule Shared Education Campus and has outline planning permission. Estate agents Frazer Kidd are the selling agents.