FOR SALE DIAMOND SHOPPING CENTRE COLERAINE. asset recovery opportunity
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- Louisa Cobb
- 5 years ago
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1 FOR SALE DIAMOND SHOPPING CENTRE COLERAINE set recy opporty
2 Offers are invited in excess 2. million Excellent wn centre locion fronting on wn s prime retail pitch, one Coleraine s main pedestrian routes looking River Bann. Summary High specificion Shopping Centre with tenants including /Sports Direct,, TK Maxx,,, Phones 4 U Claire s. Excellent wn centre locion fronting on wn s prime retail pitch, one Coleraine s main pedestrian routes looking River Bann. The scheme provides a tal 4, sq ft (11,519 m2). The majority floor space, approximely 8%, is let nional covenant retailers. The scheme curly provides a net income, with an. Offers are invited in excess 2.m. This reflects a net initial yield 13.1% a reversionary yield 3.4% suming purcher s costs 5.8%. 2
3 Prime Locion Description The subject property is loced on a prominent site abuts Han Place, Bridge Street Aby Street, within main commercial/retail core Coleraine wn. The prime retailing pitch is pedestrianised is defined by Diamond Bridge Street. University Town The hisric wn Coleraine h en home University Ulster 4, which h developed in one UK s leading research facilities both Biomedical Sciences Advanced Cloud Computing Science Technology. It h Alumni 3, gradue higher qualified students 5, cur students. Enterprise Zone It w recently announced Coleraine is come first wn in rrn Irel have an Enterprise Zone which will accommo an advanced, high capacity telecommunicion exchange centre links rth America, UK, Irel major European Centres ger with a very ft da communicions network. The 2m da centre which will loced close University Campus will result in Coleraine coming optimal communicions point rth- American pan-european markets. This will without doubt have a positive impact on wn centre will enhance proposition Coleraine can fer inward invesrs. The Diamond Centre comprises a Internal floor area approximely 4, sq ft. The centre opened in 22 is arranged provide accommodion lower ground, ground first floor levels. The mall is med two floors in an L shape (ground first). The centre is made a mix local nional retailers is anchored by a 28, sq ft Hean s Department Sre,, sq ft TK Maxx includes a furr 24 shops. Or nional tenants include, Phones 4 U Claire s. Nearby occiers in Diamond include MS Simply Food, Argos Card Facry. 3
4 in close proximity antrim cot, a key urist destinion Tourist ade Coleraine is a provincial wn situed approximely 55 miles (88 km) north west Belft, miles (4km) north et Londonderry 28 miles (45 km) north west Ballymena. The wn is loced in close proximity rth Antrim cotal wns Portrush Portstewart, Ctlerock Ballyctle is closest commercial conurbion urist north cot area which h traditionally d visirs in peak seons. Coleraine will a significant neficiary Royal Portrush Golf Club ing re-appointed on RA Panel British Open Courses. This appointment will undoubtedly boost internional urism spend within cchment. Coleraine is a university wn with a major campus University Ulster. The Causeway Hospital is Regional Hospital Ballymena, Ballymoney, Coleraine Limavady is sited Coleraine. Belft Internional Airport is loced approximely 45 miles (72 km) south et along A26 M2 morway network close wn Antrim. 4
5 A pleant family friendly shopping experience ing in Coleraine Coleraine Town Centre The retailing provision in Coleraine is foc on wn centre. The central retailing area is y pedestrianised providing a pleant family friendly shopping experience. The wn s main car parks are loced adjacent central pedestrianised area, providing c.13 car park spaces. The Diamond Centre is wn s only enclosed shopping centre ms one end wn s prime retail pitch which stretches The Diamond through sge Street. ers represented in wn s prime pitch include MS (Simply Food), Argos, Next, Wersnes; Boots, Top Shop etc. The wn h a numr strong independent retailers including Moores Department Sre, Dixons Department Sre Bishops Shoes. Or Out wn is Riverside Regional Centre, anchored by Sainsburys, plus bulky goods retailers such BQ, Currys, Pets At Home Halds. The local council are on record sting y will allow Open Cls 1 retailing outside wn centre. 5
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8 The diamond centre EPC Ring D84 EPC ring Title Due Diligence The title is predominantly freehold with a long leehold element. Furr inmion title can obtained da room include following: Site Map Lees Rent Review Memora Charge Allocion Tax Report Planning Permission Compliance Certifices Meured Survey Building Survey include ME Energy Permance Certifices Interested parties who require access da room should contact Colliers Internional who will instruct AL Goodbody issue NDA. 8
9 Capital Gains We underst tal cost (including construction) property w 19m it may possible purcher retain be cost property if company is acquired. The property h en elected VAT Capital Allowances The property w constructed in 21 through 23 we underst fixed plant machinery allowances may available claim. VAT The property h en elected VAT which would need d stard re 2% unless sale represents a TOGC. The purcher should obtain ir own tax advice in relion se mters. constructed a cost 19 million Opporty This is a unique opporty re-establish a scheme which w constructed a cost 19 million (22) which had a net receivable income c. 1.6 million in. Proposal Offers are invited in excess 2.m. This reflects a net initial yield 13.1% a reversionary yield 3.4% suming purcher s costs 5.8%. 9
10 CONTACT Commercial Enquiries Jonhan Millar Tel: Mobile: Bill Kennedy bill.kennedy@colliers.com Tel: Mobile: darren st darren.st@colliers.com Tel: Mobile: Colliers Internional gives ice se particulars are set out a general outline only guidance intending Purchers or Lessees do constitute any part an fer or contract. Details are given without any responsibility any intending Purchers, Lessees or Third Party should rely on m stements or representions fact, but must sisfy mselves by inspection or orwise correctness each m. person in employment Colliers Internional h any authority make any represention or warranty whsoever in relion this property. Colliers Internional is licensed trading name Colliers Internional Belft. Company Registered in rrn Irel. NI 116. Registered Office: rwich Union House, 7 Fountain Street, Belft, BT1 5EA. (July 214) CENTRE HOUSE // Chichester Street // Belft
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