www.lsh.ie
FOR SALEMulti-Let Mixed Use Investment The Hub, 45-47 Ravenhill Road, Belfast, BT6 8DQ
Investment Summary• Multi-let mixed use commercial building comprising
c. 11,040 sq ft over two floors with a total site area of c. 0.2 acres
• Fully let to a range of well-established local businesses
• Opportunities to asset manage space and maximize rental income
• Gross income of £58,440 per annum and net income of £56,100 per annum
• Asking price of £575,000 which reflects a net initial yield of 9.29% and a low capital value of £52 psf
Queen's Island
Ballymacarret
Donegall Pass
Carrick Hill
Cliftonville
Lower Falls
Tiger's Bay
Willowfield
Sandy Row
Duncairn
ShankillSydenham
Botanic
Yorkgate
Sydenh
City Hospital
TitanicQuarter
BelfastLanyon
Place
Belfast- Great
VictoriaStreet
Duncrue Street1b
York Street Interchange1a
Mulhouse Road Grosnevor Road
Clifton Street
York StreetClifton Street
Divis Street
Divis Street
LaganBridge
QueenElizabeth
Bridge
AlbertBridge
LaganWeir Footbridge
M2
M3
A12
A12
A2
A2
B126
B126
B126
B501
B502
B502
B503
B505
B505
B506
B38
B38
B39
B39
C701
C701
C702
C703
C703
C704
Syde
nham
Bypa
ss
Syd
Sydenham
Bypas s
Syden ham
Bypass
Nel
son
Stre
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Westlink
Wes
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Wes
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Wes
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Westlink
Wes
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Westli
nk
Westlink
Upp er Newtownards Road
GrotciV taeri
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t eer
Mountpot tinger Road
Corp
ora
tion
Stre
et
Castlereagh Street
Mi ddlepath St reetMiddlepat
h Street
Chichester Street
Albertb
ridge R
oad
Albertb
ridge
Road
Newtownards Road
Castlereagh Ro
Victori a Street
Donegall Street
Dunc
rue
Stre
et
Do
negall Place
Clifton St reet
Bedford Stree
t
Whi
tla S
tree
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Nel
son
Str
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Don
egal
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Doneg
all Quay
Crom
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tree
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Shor
t Stran
d
Royal Avenue
Roya
l Ave
nue
Divi s StreetDivi
s Street
Crumlin Road
Crumlin Road
Crumlin Road
York Street
York
Stre
et
York S treet
York
Stre
et
York
Str
eet
Ormeau Road
High S
treet
Dunbar Link
Dub
l in R
oad
Antrim Road
Antrim Ro
da
Antr
im R
oad
May StreetMay Street
Falls
Roa
d
Bridge End
Ann Street
York
Roa
Nor
thum
berl
and
Stre
et
College Square North
Nort
h Qu
een
Stre
et
Nroth
Que
en S
tree
t
Frederick Street
Beersbridge Ro ad
Be
ersbri
dge Ro
ad
Beersb
ridg
e Ro
ad
Ravenhill Road
Limestone Road
Grosv enor Road
Grosvenor Road
Shankill Road
Holywo
o d Roa
d
Holywo
o d Roa
d
Holy
Durham
Street
Peter's Hill
Old
park
Ro
ad
North Street
Bruce Street
Agne
s S
tree
t
Sandy Row
Mill
field
Mill
field Doneg all Street
Brougham S treet
Belfa
st H
arbo
u r
Woodstock Road
Dundela Av
Warin
g Stree
t
Orm eau Avenu e
Nel
son
Stre
et
Donegall Road
Don egall RoadDonegall Road
Donegall Road
Do negall Pass
North Street
Gran
d P
arad
e
arad
e
Airp
ort R
oad
Airp
ort R
oad
Airp
ort R
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daoR tropriA
North
Roa
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Dee
Str
eet
Dee Street
D ee
Stre
et
O
ran
Bell's T
he
orem
Cre
scen
t
Little Do negall Street
Little Patrick Street
Great Geo rge's Street
Upper Cannin g Street
Upper Mer vue Street
Upper Meado w Street
Oran
gefie
ld Ga
rdens
Nor
th H
ow
ard
Stre
et
Ballym
acarrett Road
Willowfield Street
Willowfield Parade
Ravenscroft Avenue
Oran
gefie
ld Av
enu
North De rby Street
Littl
e Yo
rk S
tree
t
Glenvarloc
k Street
G lencollyer Street
Cupar Street Lower
Clift
onpa
rk A
ven
ue
Cifto
nvill
e Av
enue
Cher
ryvil
le Str
eet
Castlereag
h Parade
Ca
Bloo
mfie
ld G
arde
ns
Willowfi
eld Driv
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Templ em
ore Street
Templem
ore Avenue
Templem
ore Avenue
Strathede n Street
Strandburn Stree t
Richardson Street
Ravensdale Street
Orm
eaE
um
O
North Howard Link
McC
andl
ess
Stre
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Larkfield Garde ns
Kens
ingt
on A
ven
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Grove Street East
Grov efield Street
Ebri
ngto
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s
East
Bre
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tree
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Str
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Dis
tille
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Conn
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Conn
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Clan
debo
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Cast
lere
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Plac
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Carringt on Street
Bloom
fiel d
Parade
Bloomfield Avenue
Beechfield
Street
Ballym
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Stree
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Win
grov
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s
t
Syden
Stra
ndbu
rn D
rive
Snug
ville
Str
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Salisbury Street
Rydalm
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Rosa
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Red
cliff
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rad
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Rav
enhi
ll St
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nuoP
dhill Street
Orang
efield Lane
Old C hannel Road
Northland Street
Newi
ngto
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Mou
ntforde Drive
Mile
rive
May
flowe
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Mar
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Linenhall Street
Lich
field
Ave
nue
Lancaster Street
Kirkliston Drive
Kingswo
od Stree
t
Glen
broo
k Av
enue
Edlin
gham
Stre
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Dunraven Garde ns
Dunca irn Gardens
Culli
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Conv
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Connsbrook Dri ve
Connaught Street
Clift
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resc
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Clar
endo
n Av
enu
e
Churchill Stree t
Chatwo
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et
Charlotte Street
Broo
khill
Ave
nue
Bloomfield Drive
Ardenvohr Street
Ambleside Street
Aby
ssin
ia S
treet
Wellwoo d Street
Wellwood Avenue
Victoria
Trillick Street
Town sen d Str
eet
Stan
hope
Stre
et
Spamou nt Street
Sheridan St reet
Shan
kill
Para
de
Seaforde Street
Sagi
mor
Gar
dens
Rosleigh Street
Rosevale Street
Richview
Street
Red
cliff
e D
rive
Rave
nhil l
Reach
Rave
nhill
Rea
ch
Portall
o Stre
et
Ponsonby Avenue
Parkgate Avenue
Park
gate
Ave
nue
Nend
rum
Gar
dens
Moorgat
e Stree
t
Mon
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Moneyre
a Street
teer
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McM
Matc hett Street
Martinez Avenue
teertS kcirdneL
Lark
field
Gro
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Kinnaird Street
Imp e
rial Street
Hynd ford Street
Hop ewell Avenu e
Hillf
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Stre
et
H arkness Par
ade
Hamilton Street
Hal
liday'
s Ro
ad
Greenvi lle Road
Greenville Road
e Street
Girdwood Aven ue
Gar
dine
r St
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Friendly StreetFranklin Street
East
on C
re
Dunville Stre et
Dunvegan Str eet
Dunraven Par
ad e
Dunr
aven
Ave
nue
Dunca
irn P
arad
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Dunc
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Ave
nue
Duncairn Av enue
Delaware Street
Connsbr ook Park
Clarence Street
Broo
Bram
cote
Stre
et
Bou
ndar
y St
r eet
Bloomfield Road
Bloo
mfie
ld P
ark
Beverley Street
Bankmore Street Ballarat Street
Atla
ntic
Aven
u
Adelaide StreetAdela ide Street
Woo
dco t
Ave
nue
Wayland
Street
Victo ria Drive
Toronto Street
Ten
nen
t Str
eet
Stormount Lane
St
ewar
t Str
eet
Step
hen
Stre
et
Stat
ion
Str
eet
Skipton
Street
Shan
non
Stre
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Sandbrook Park
Raphael Stre e t
Posnett Stre
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Avenue
Orien
t Gar
d
Oldp
ark
Aven
Oakl
and
Aven
ue
Oa kdene Pa rade
New Lodge Road
My Lady's Road
Milford S
treet
McAuley Street
Lismore Street
Lisa
von
Str e
et
Lindsay Stre
et
Library Street
Lemberg Stre
et
Larkfield Road
Laganbank Road
Keatley Street
Jocelyn S
treet
Jocelyn Aven ue
Isoline Stre
et
Irwin Crescent
Invera
ry Dr
ive
Hogarth StreetHillman Street
Harcourt Drive
Gres
ham
Str
eet
na S
tre
et
Erskine Street
Epworth
Street
Dund el
n St
ree
t
Connsbank Road
Clanroy Parad
Cheviot Avenue
Canm
ore
Stre
et
Brucevale Park
Brandon Parade
Bendi go Street
Bevl
oir
Stre
et
Beec
hnut
Pla
ce
Barr
ack S
treet
Ashmore Street
Ashda le
Street
Ardoyne Av
enue
Ardile
a Stre
et
Acad
emy
Stre
et
Abingdo n Drive
With
am S
tree
t
Wilt
on S
tree
t
Wilso n Street
Wilgar S
Waln
ut Street
Vulca
n Street
Victoria Road
Vernon Street
Ven try Street
Talbot
Stree
tSydenham Road
Sydenha m RoadSydenham Road
Syde
nham
Par
k
Summer Street
Stroud Stre e
t
Solw
ay S
tre
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Silv
io S
tree
t
Severn Street
Severn Street
Serv
ia S
tree
t
Servi
a Stre
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Samuel Street
Roslyn
te
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Roslyn S
Rose bery Ro
River Terrace
Ribb
le S
tree
t
Regent Street
Redcar
Street
Pomona Avenue
Paxton
Street
Parker Street
Omeat h Street
North
Garde
ns
No
rthern
R
oad
son
Squa
re
Milne
r Street
Mervu e Street
Mersey Street
Me dway Street
Martin Street
Madrid Street
Madrid S tree
t
Mad rid Street
Mackey Street
Lomond A venue
Lisavon Drive
Linfie
ld Road
Linen
Gar
dens
Lepp
er S
tree
t
Leeson Street
Island St reet
Hillvie
w Road
Harper St
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Ham
ill S
treet
Gibs
on S
treet
Florida Driv
Euston Street
Eusto
n Par
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Empire Street
ia S
tree
t
Dunraven Park
Dun raven Pa
r k
Dunbar S
t reet
Donard Str eet
n Street
Dawson Street
Danube Street
Cyprus Avenue
Crim
ea S
tree
t
Conw
ay S
tree
t
Conway
Street
Colv
il St
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Clon
lee
Dri
Clift
on D
rive
Carn
an S
tree
t
Carl
ow S
tree
t
Carli
sle
Road
Calvin Street
Bryson Street
Blythe Street
Ber
lin S
tree
t
Batley S
treet
Baltic Avenue
Balkan
Street
Avono
rr D
rive
Avon
iel D
rive
Ashm ore Place
Arg
yle
Stre
et
Alfred StreetAlfred Street
Albert Street
Albert Street
Albe
rt Street
Aigb urth Par k
Abetta Parade
Yuko
n St
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Wel
sh S
tree
t
Virg
inia
Way
Tower Street
Torr
Third Street
Tamar Street
Syla
n St
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Susan Street
Sefto
n D
rive
Rode
n St
ree
t
Roden Street
Que
en S
tree
t
Pollo
ck R
oad
Pilot Street
Perc
y St
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Percy Street
Pearl Street
Osman Stree t
Nevis Avenue
Mou
nt St
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Mou
nt S
tree
t
May
's M
eado
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Man
or S
treet
Man
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tree
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Major Street
Lewi
s Ave
nue
Lanyon Place
Irw
in A
venu
e
Hills Avenue
Henry Str eet
Gra
ce S
tree
t
Grace Avenue
Frome
rtS
eet
Flora Street
Fifth Street
Eureka Drive
Dov
er S
tree
t
Devon Par ade
Cooke Street
Conway Place
Clonard Rise
Clara S
treet
Clara Aven ue
Brow
n Square
Berry Stree t
Avoniel Road
Avoni el Road
Avoc
a St
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Athol Stree t
Arno
n St
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Arann Stree
t
Alloa Street
Wall S
treet
Tom
b St
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Shaw
Str
eet
Sefto
n Pa
rk
Sark Street
Rowland Way
Ross St
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Riga StreetRiga Street
Que e
ns R
oad
Quee
ns R
oad
Que
e ns
oRad
Queens
Road
Percy Place
Park Parade
Park Avenue
Park Avenue
Park
Ave
nue
Osw
ald
park
Lord Street
Lord Street
Lond
o n Ro
ad
Lewi
s Driv
e
Kyle Street
King
Str
eet
Kent Street
John
Stre
et
Irw in Drive
Hill Street
He
nry P
lace
Fras
er P
ass
Felt
Stre
et
Dover Place
CookeCourt
Church Lane
Boy
d St
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T
Tor
Pim Street
Lewi
s Par
k
Joy te
ertS
Joy
Stre
et
Eia Street
Corry Road
York Lane
The
Mou
nt
Ross Roa
d
Orby RoadOrby
Roa
d
O
Loug
h Lea
y
Cuba
Wal
k
Crav
en S
t
City Way
Kitchener S
Soudan St
Nubia Stre
Willow
field W
alk
arac
iVg
e Street
Rosemary S
treet
Foun
tain
Str
eet
S t Luke's Walk
Matilda Avenue
Arthur Street
Utility Walk
Chap
el L
ane
Castle Lane
Bank Street Cornmarket
AnnStre
et
Dargan Bridge
Da
gran
Brid
ge
A1
Harland& Wol�
VictoriaPark
VictoriaPark Playing
Fields
The Waterfront
Albert &BallsastQuays
NorthernIrelandScience
Park
CitysideRetail Park
WeaversCourt Business
Park
Dixon ParkPlayingFields
York Dock
Twin SpiresBusinessCentre
Saint Malachy'sCollege
ThompsonsFeed Factory
MarrowboneMillenium
Park
GreenvillePark
Castle CourtShopping
Centre
Royal BelfastAcademicalInstitution
(RBAI)
DRD RoadService
ConnswaterShopping
Centre
BelfastRoyal Academy
OrmeauPark
TennantsTextile
ColoursLtd
PollockDock B-
DBarnett
Dock
SinclairWharf
BelfastHarbourMarina
DunvillePark
PollockDock 6
King GeorgeV Playing
Fields
BlythefieldPark
ElmgrovePrimary
PollockDock 5
SteamPacketFerries
BombardierMain
Factory
RoyalVictoriaHospital
Victoria
CITY HALL
Square
OdysseyCentre
Translink
Conn s' W
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Conn
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Laga
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Lagan
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Conn's Water
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LocationBelfast is Northern Ireland’s capital with a population of c. 700,000 and a further extensive catchment within a 10 mile radius.
The subject property occupies a highly prominent position on the Ravenhill Road which is one of the main arterial routes into Belfast City Centre and benefits from large volumes of both vehicular traffic and pedestrian flow. The building’s location means that it benefits from excellent transport links and allows for easy access into Belfast City Centre, the Titanic Quarter and M2 & M3 motorways.
Nearby occupiers include Martin Philips Carpets, Screwfix, City Vets, Polita and Wood Floor Warehouse.
Belfast Waterside Development
Titantic Quarter
Belfast Lanyon Place
THE HUB
Belfast City Hall
Victoria Square
Waterfront Hall
DescriptionThe property is a substantial commercial building extending to c. 11,040 sq ft (c.1,028 sq m) over two floors and offers a range of accommodation under one roof, housing 7 tenants. Externally new PVC windows have been installed to the ground and first floors of the building as well as the side return. New electric roller shutters and aluminium glass doors have been fitted to all external entrances and the main entrance lobby into ‘The Hub’ has been refurbished to include a tiled floor, plastered and painted walls, new lighting and a new bespoke tick tack staircase has been installed.
Internally the building comprises a number of smaller and larger units which have been finished to include plastered and painted walls, strip lighting and from the beginning of October all units will be separately metered for both gas and electricity. BFIT occupy the majority of space at ground floor level and they have recently made a significant investment upgrading their facilities. The first floor is partitioned into a number of smaller units which vary in size and most of the tenants are situated at this level.
Schedule of Accommodation & TenanciesUnit Tenant Trading As Area Area Lease Lease Lease Rent Rent Comments (sq ft) (sq m) (Years) Start Date Expiry Date Passing (PSF)
1- 4 BFIT Belfast Ltd BFIT 6,077 565 5 09.04.20 08.04.25 £30,000 £4.93 BFIT have recently made a significant capital investment upgrading their facilities.
5 Christ Believers Christ Believers 945 88 2 09.03.19 08.03.21 £4,800 £5.07 Rent includes utilities. Evangelical Church Evangelical Church
6 David Turner Turner Framing 324 30 2 09.03.20 08.03.22 £3,840 £11.85 Rent steps up to £4,200 per annum from 9th March 2021.
7 Bami Aikulola HotBox 227 21 3 20.03.20 19.03.23 £3,000 £13.21 Rent steps up to £3,300 per annum from 20th March 2022. Entertainment
8 Carol Orchin The Movement 1,070 99 3 13.05.20 12.05.23 £7,800 £7.28 Rent steps up to £8,400 per annum from 13th May 2021. Loft Gym
9 Belfast Aikido Club Belfast Aikido 1,570 148 5 17.02.20 16.02.25 £6,000 £3.82 Rent steps up to £7,200 per annum from 17th August 2022.
10/11 Mark Nagy Storage Mark Nagy Storage 828 77 1 12.06.20 11.06.21 £3,000 £3.60 Storage unit. & Delivery & Delivery
TOTAL c.11,040 c.1,028 £58,440 per annum
Gross Rent ............................................................£58,440 pa Estimated Utilities Costs .......................................£2,340 pa Net Rent ................................................................£56,100 pa
*Telephone mast sold off on a long leasehold basis at a peppercorn rent. Further info available upon request.
Energy Performance CertificateThe EPC ratings for each unit are as follows:
Unit EPC Rating
Unit 1 D92
Unit 2 D83
Unit 3 D78
Unit 4 D93
Unit 5 D77
Unit 6 F134
Unit 7 C52
Unit 8 G214
Unit 9 E116
Full copies available upon request.
Title The property is held under freehold / long leasehold Title and is free from any onerous or restrictive covenants.
Business RatesEach unit has been individually accessed by Land & Property Services and therefore it’s the tenants responsibility to pay business rates directly to the rates collection agency.
VATWe have been advised that the property has not been elected for VAT.
ProposalWe are seeking offers over £575,000 (Five Hundred and Seventy Five Thousand Pounds Sterling) subject to contract, which reflects a net initial yield of 9.29% (after allowing for purchaser costs of 5.02%).
Further InformationFor further information, please contact:-
Jonathan Martin Martin McCloy 028 9026 9274 028 9026 [email protected] [email protected]
Belfast OfficeLambert Smith HamptonClarence House, 4/10 May StreetBelfast, BT1 4NJ
Disclaimer: Lambert Smith Hampton Group Limited and its subsidiaries and their joint agents if any (“LSH”) for themselves and for the seller or landlord of the property whose agents they are give notice that: (i) These particulars are given and any statement about the property is made without responsibility on the part of LSH or the seller or landlord and do not constitute the whole or any part of an offer or contract. (ii) Any description, dimension, distance or area given or any reference made to condition, working order or availability of services or facilities, fixtures or fittings, any guarantee or warrantee or statutory or any other permission, approval or reference to suitability for use or occupation, photograph, plan, drawing, aspect or financial or investment information or tenancy and title details or any other information set out in these particulars or otherwise provided shall not be relied on as statements or representations of fact or at all and any prospective buyer or tenant must satisfy themselves by inspection or otherwise as to the accuracy of all information or suitability of the property. (iii) No employee of LSH has any authority to make or give any representation or warranty arising from these particulars or otherwise or enter into any contract whatsoever in relation to the property in respect of any prospective purchase or letting including in respect of any re-sale potential or value or at all. (iv) Price or rent may be subject to VAT and any prospective buyer or tenant must satisfy themselves concerning the correct VAT position. (v) Except in respect of death or personal injury caused by the negligence of LSH or its employees or agents, LSH will not be liable, whether in negligence or otherwise howsoever, for any loss arising from the use of these particulars or any information provided in respect of the property save to the extent that any statement or information has been made or given fraudulently by LSH. (vi) In the case of new development or refurbishment prospective buyers or tenants should not rely on any artists’ impressions or architects’ drawings or specification or scope of works or amenities, infrastructure or services or information concerning views, character or appearance and timing concerning availability or occupation and prospective buyers or tenants must take legal advice to ensure that any expectations they may have are provided for direct with the seller or landlord and LSH shall have no liability whatsoever concerning any variation or discrepancy in connection with such matters.
Subject to Contract and Exclusive of VAT © Lambert Smith Hampton September 2020
www.lsh.ie
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