SHELL HILL SQUARE RETAIL, ATLANTIC ROAD, COLERAINE

FOR SALE
Neighbourhood Retail Centre with Convenience Store & 4 No. Units (2 with Hot Food Consent)

LOCATION
The town of Coleraine has been identified within Northern Ireland’s Regional Development Strategy, which sets out the Development Strategy for the entire Province, as a main hub town located on a key transport corridor. It acts not only as a University town, but is also the principal tourism nexus for North Antrim’s world renowned Causeway Coast.
Coleraine is also a principal Retail Centre and the major centre of employment within the North East of Northern Ireland.
It provides the main commercial and retail facilities for the surrounding towns of Ballymoney, Portrush, Portstewart and the Causeway Coast Region.
Shell Hill Retail Centre is located on the busy Atlantic Road connecting Portrush and Coleraine town centres.
The Causeway Coast and Glens, within which the property is located, has a population of 144,246 people as of 2018 and welcomes over 1 million tourists and visitors throughout the year.
The retail units also have a substantial residential catchment and are the closest off campus retail facilities for the Ulster University Coleraine Campus which accommodates over 6,000 students and staff.

DESCRIPTION
Shell Hill Square Retail Centre investment opportunity is available in its entirety or in two lots as detailed below:
LOT A: Comprising Unit 1 which is a functioning convenience store fitted out to a high specification and ready to trade immediately. The unit has a fully fitted deli with hot food and salad bar. The unit benefits from secure electric roller shutter and aluminium shop window and door fronts
LOT B: Comprises Units 2, 3, 4 and 5 which are finished to a shell specification with electricity, water and gas connections. The units also all benefit from secure electric roller shutter and aluminium shop fronts. These units have Planning Permission for a range of retail uses including 2 hot food consents.
In addition the Retail Centre has a parking provision for 33 vehicles.

ACCOMMODATION

Description Area (Sq. M. / Sq. Ft.) Rates (Estimated Rates Payable)
LOT A
Unit 1 (Ground Floor) c. 359 sq m 3,864 sq ft
Unit 2 (First Floor) c. 65 sq m 703 sq ft £25,400 (£13,783.87)
TOTAL LOT A c. 424 sq m 4,567 sq ft

LOT B
UNIT 2 c. 67 sq m 720 sq ft £4,750 (£2,577.69)
UNIT 3 c. 67 sq m 720 sq ft £4,750 (£2,577.69)
UNIT 4 (Hot Food Consent) c. 67 sq m 720 sq ft £4,750 (£2,577.69)
UNIT 5 (Hot Food Consent) c. 67 sq m 720 sq ft £4,750 (£2,577.69)
TOTAL LOT B c. 268 sq m 2,880 sq ft
TOTAL ACCOMMODATION C. 692 Sq. M. 7,447 Sq. Ft.

The commercial rate in the pound for 2022 / 2023 is £0.5542672. Please note that all prospective purchasers should make their own enquiries to confirm NAV/rates payable.

SALES DETAILS

PRICE
LOT A: Offers invited over £325,000
LOT B: Offers invited over £225,000
ENTIRETY: Offers invited over £485,000

TITLE
We assume the property is held under freehold title or long leasehold title.

VAT
All prices quoted are exclusive of but may be subject to VAT.

Viewing
By Appointment with Agent.

Further Details
Philip Tweedie or Amy Quigley