Location

The Regent House Complex, 35 Regent Street, is located within the central business district of Newtownards. Positioned on one of the main arterial routes into the town centre from Belfast and conveniently located next to the main Translink Bus Station. The immediate area benefits from a range of amenities such as a wide variety of cafés, restaurants & bars, along with a host of high street shops, Conway Square, Ards Hospital, Ards Shopping Centre Complex, cinema, primary and secondary schooling options, Newtownards SERC Campus, and the Blair Mayne Leisure Centre. Regent Street is one of Newtownards best known thoroughfares and benefits from excellent public transport links to both the city centre and towns located further afield. Located 10 miles East of Belfast, and 5 miles South of Bangor.

Description

The subject property is undoubtably one of the towns’ most recognisable Grade B1 Listed buildings and is positioned on a prime site of approximately 1 acre. The offering comprises the heavily extended original 19th Century Regency mansion house, built for Mr Peter Johnston, who owned one of the largest breweries in the area at the time. The external walls of the mansion house (excluding the later added side and rear extensions) are of solid masonry construction comprising sandstone detailing with feature original porch entrance to the front facde. The subject property holds C.14,000 sqft (1,300 sqm) in total.

35 Regent Street was purchased from Mr Johnston in 1927 by the “Newtownards Academy School” Board of Governors, who then changed the school name to “Regent House School”. The school continued in Regent House until 1962 when it moved to a new campus on Circular Road. Notable former pupils include Lieutenant-Colonel Robert Blair Mayne, founding member of the SAS, Ireland and British & Irish Lions rugby player, Nigel Carr MBE, former British & Irish Lions rugby player, and F1 racing driver Eddie Irvine. Since 1962 the property has held many uses, including a Ford Motor Car dealership, High-end furniture store, an electronics store, coffee shop, funeral directors, and hosting multiple cellular office/ meeting suites.

The sale also includes a 50 space Smart metered car park, and Planning Permission for a mews style development, see planning details below. Externally the holding occupies an attractive setting and commands prestigious kerb appeal as you enter the town centre along Regent Street. The property is self-contained and is currently accessed from two wide entrances directly from Regent Street at the front, and a singular vehicular access point, from the rear, directly off West Street.

Accommodation (All areas are approximate)

The property provides the following approximate net internal areas:

Basement: 1,975 sqft/ 183.5 sqm

Ground Floor: 2,218 sqft/ 206.1 sqm

First Floor: 3,521 sqft/ 327.1 sqm

Unit 2/ Side unit: 6,274sqft/ 582.9 sqm

Total: 13,988 sqft/ 1,299.5 sqm

Rental Income
The premises are currently partly let producing a gross rental income of approximately £49,400 per annum including Pay & Display car parking income. The potential income if fully let is estimated to exceed £100,000 per annum.

Planning
Planning Permission has been approved, under ref no. X/2005/0843/F, for a mews style development to the left side of the site for four apartments and two townhouses, along with a gated parking area. A copy of the approvals is available upon request. The property may be suitable for a variety of uses such as an exclusive apartment development, flexible office space, event facilities, military service club facility, retail space, food retail, all within the centre of Newtownards, Subject to Planning Permission.

Rates
*The subject property should benefit from vacant rates relief due to the listed status of the buildings.

Sales Details
Guide Price: Offers Around £1,200,000. (One Million, Two Hundred Thousand, Sterling)

Title
The property is held by way of a 999 year lease from 1st October 1964 subject to an annual ground rent of £100.

VAT
The premises are not registered for VAT.

Any interested parties should contact either Richard Orr of Simon Brien or Paul Ritchie of RHM Commercial for further information:

Richard Orr
Landline: 02891 800700
Mobile: 07917 690014
Email: richard.orr@simonbrien.com

Paul Ritchie
Landline: 02890 434300
Mobile: 07977 41 1234
Email: paul@rhmcommercial.com