Contact Agent
Contact Shooter Property Services (Banbridge)
Commercial Investment
2-8 Newry Street & 1-5 Rathfriland Street
Banbridge, BT32 3EA
offers in excess of
£1,200,000
- Status For Sale
- Property Type Commercial Investment
-
Stamp Duty
Higher amount applies when purchasing as buy to let or as an additional property£63,750 / £123,750*
Key Features & Description
Prominent Fully Let Retail Investment
Passing rent: £104,000 p.a & rising to £114,000 p.a in October 2026
Approximately 21,974 sq. ft. (NIA)
A landmark commercial premises occupying a significant site at the very heart of Banbridge Town Centre
A rare opportunity to acquire such a substantial commercial holding in Banbridge Town Centre
Tenants - Menarys, Piggotts Cafe, Education Authority, EuroVape
Menarys: lease expiry 31/09/2034 Annual Rent - 01/10/25 - 31/09/26 = £75,000 p.a 01/10/26 onwards = £85,000 p.a
Description
A landmark commercial premises occupying a significant site at the very heart of Banbridge Town Centre. The property comprises an extensive end terrace three storey over basement commercial unit with three additional ground floor retail units. An exciting investment asset anchored by Menarys (9 years remaining), plus 3 fully let retail units on Rathfriland Street. Passing rent is £104,000 p.a.x. rising to £114,000 p.a.x in October 2026. A rare opportunity to acquire such a substatial commercial holding in Banbride Town Centre.
A landmark commercial premises occupying a significant site at the very heart of Banbridge Town Centre. The property comprises an extensive end terrace three storey over basement commercial unit with three additional ground floor retail units. An exciting investment asset anchored by Menarys (9 years remaining), plus 3 fully let retail units on Rathfriland Street. Passing rent is £104,000 p.a.x. rising to £114,000 p.a.x in October 2026. A rare opportunity to acquire such a substatial commercial holding in Banbride Town Centre.
Rooms
Location
Banbridge is situated approximately 25 miles southwest of Belfast, 15 miles
north of Newry city and 12 miles east of Portadown with convenient access
onto the A1 Dublin to Belfast dual carriageway.
Banbridge serves as a commuter town to Belfast and Newry along with the surrounding towns and villages and the latest NISRA statistics estimate the population of Banbridge Local Government District was 17,400.
The town offers a wide range of local amenities as well as a healthy retail offering with an abundance of local independent traders, complemented by The Boulevard Outlet Shopping Complex, Banbridge Retail Park,
Tesco and Lidl supermarkets. The property occupies a prominent location
on the corner of Newry Street and benefits from a return frontage onto Rathfriland Street. Newry Street comprises the main retailing thoroughfare in Banbridge town, with a number of high-profile occupiers, including SD Kells, Donaghys, New Look and Santander.
Description
The property comprises an extensive end terrace three storey over basement commercial unit with three additional ground floor retail units.
2-8 Newry Street
This end terrace three storey property is over basement, ground, first and second floors with trading on ground and first floors with additional storage at basement and second. All floors are accessed by either a staircase or passenger lift. The ground and first floor sales are predominantly open plan and finished to the Menarys corporate fitout.
Accommodation:
Basement
1,489 Sq Ft / 138.32 Sq M
Ground Floor
8,634 Sq Ft / 802.00 Sq M
First Floor
8,317 Sq Ft / 772.60 Sq M
Second Floor
1,762 Sq Ft / 163.60 Sq M
Total
20,202 Sq Ft / 1,876.52 Sq M
1-5 Rathfriland Street
This part of the property is a separate building comprising of three individual ground floor retail units whilst the upper floors are connected to 2-8 Newry Street. The properties are fully fitted to the occupiers specification.
Accommodation:
Unit 1
486 Sq Ft / 45.22 Sq M
Unit 3
474 Sq Ft / 44.03 Sq M
Unit 5
812 Sq Ft / 75.47 Sq M
Tenancy Schedule
2-8 Newry Street Tenant - Menary's Retail Ltd
Lease Start Date - 01/10/2024
Lease End Date - 31/09/2034
Term - 10 year lease
Next Review - 01/10/2029
Annual Rent - 01/10/25 - 31/09/26 = £75,000 p.a
01/10/26 onwards = £85,000 p.a
1 Rathfriland Street tenant - Southern Education & Library Board
Lease start date - 01/04/2021
Lease end date - 31/03/2024
Term - 3 year lease over-holding
Next Review - N/A
Annual Rent - £10,000
3 Rathfriland Street tenant - Stephen Morton & Alan Wylie t/a Piggotts
Lease start date - 01/04/2018
Lease end date - 31/03/2021
Term - 3 year lease over-holding
Next Review - N/A
Annual rent - £9,000
5 Rathfriland Street Tenant - Patrick Maginnis
Lease Start Date - 11/09/2023
Lease End Date - 10/09/2026
Term - 3 year lease
Next Renewal - N/A
Annual Rent - £10,000
Passing Rent - £104,000
Rates
We have been advised by the Land and Property Services of the following rating information:
2-8 Newry Street - Net Annual Value £76,600
1 Rathfriland Street - Net Annual Value £6,600
3 Rathfriland Street Net Annual Value £5,850
5 Rathfriland Street - Net Annual Value £5,850
VAT
All prices, rentals and outgoings are quoted exclusive of VAT.
Title
Assumed Freehold
Solicitors
R. M Culen Solicitors
16-22 Edward St,
Portadown
BT62 3NA
Property Location
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Contact Agent
Contact Shooter Property Services (Banbridge)
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2-8 Newry Street & 1-5 Rathfriland Street, Banbridge, BT32 3EA
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