For sale by McQuoids Estate Agents via the iamsold Bidding Platform.
Please note this property will be offered by online auction (unless sold prior). For auction date and time please visit iamsoldni.com. Vendors may decide to accept pre auction bids so please register your interest with us to avoid disappointment.

Lisburn is the second largest city in Northern Ireland located c. 9 miles South of Belfast offering ease of access to the M1 motorway, providing links to both Belfast and Dublin. Lisburn railway station is a short walk from the unit providing frequent services across Northern Ireland and connections to Dublin Connolly.

The premises extends to c. 33,271 sq. ft with some private parking, situated at the top of Lisburn's main shopping throughfare across from the Linen Museum with views over Market Square in Lisburn City Centre.

Market Square was revamped in 2015/2016 offering great amenity space for the public which links into the pedestrianised Bow Street and Bow Street Mall shopping centre. The area is undergoing current regeneration with various local sites being redeveloped into residential developments.

The property comprises a substantial 5 storey mid-terrace with red brick masonry walls, under a pitched artificial slate tile roof and flat roof with solid and suspended concrete floors and electric storage heaters.

The unit is currently split into 3 retail units each with roller shutter access at ground level fronting Market Square, two of which benefitting from lower ground and basement levels. The first and second floors of the property comprise large open plan offices.

The main retail unit, formally Reid’s shoes, occupied the majority of the retail area split across the ground floor and lower floors with a shop front to the side and roll shutter access from the pedestrian walk way ‘Piper Hill’ off Market Lane.

The property offers itself to a wide range of investors and/or developers having a present layout for a mixed use development of 3 or 4 retail units with upper floor offices with the potential for redevelopment into apartments, subject to planning. The adjoining property has been previously converted into a mixed use scheme combining ground floor retail and upper floor apartments.

Nearby occupiers include Lisburn Library, Peter Bowles Solicitors, Epic Dental, Lisburn Orthodontist and a 3 storey apartment block.

Accommodation
Basement 262 sqm (2,820 sq.ft)

Lower GF 896 sqm (9,644 sq.ft)

Ground Floor 569sqm (6,125 sq.ft)

1st Floor 684sqm (7,363 sq.ft)

2nd Floor 680sqm (7,319 sq.ft)

Total 3,091 sqm (33,271 sq.ft)

Sales Price
Offers Over £475,000

Title
Assumed Freehold / Long Leasehold

NAV / Capital Value
£153,600 / £80,816

(Note: Estimated rates according to LPS Website)

VAT
All prices, outgoings etc are exclusive of, but may be subject to VAT.


Auctioneers Comments:
This property is for sale under Traditional Auction terms. Should you view, offer or bid on the property, your information will be shared with the Auctioneer, iamsold.
With this auction method, an immediate exchange of contracts takes place with completion of the purchase required to take place within 28 days from the date of exchange of contracts.
The buyer is also required to make a payment of a non-refundable, part payment 10% Contract Deposit to a minimum of £6,000.00.
In addition to their Contract Deposit, the Buyer must pay an Administration Fee to the Auctioneer of 1.80% of the final agreed sale price including VAT, subject to a minimum of £2,400.00 including VAT for conducting the auction.
Buyers will be required to go through an identification verification process with iamsold and provide proof of how the purchase would be funded.
Terms and conditions apply to the traditional auction method and you are required to check the Buyer Information Pack for any special terms and conditions associated with this lot.

The property is subject to an undisclosed Reserve Price with both the Reserve Price and Starting Bid being subject to change.