COMMERCIAL PROPERTY City centre property and top greyhound stadium for sale
A BELFAST commercial property housing barbecue restaurant Bubbacue has come onto the market for £0.8m at Botanic Avenue in Belfast.
The 4,200 sq ft building is let in its entirety to the restaurant on a 10-year term at an initial rental of £55,000 per annum.
It presents an attractive retail investment opportunity in the student heartland of the city.
The property comprises two terraced buildings which have been merged to provide a ground floor restaurant with upper floor office and storage accommodation, allowing for future expansion of further seating.
Neil Mcshane, director of capital markets at Lambert Smith Hampton, said: “Botanic Avenue has continued to increase its popularity for eateries, targeting the young demographic. This includes the property occupier, Bubbacue, a recent addition to an already impressive line-up including French Village Café Bistro, Falafel, The Sphinx, Builda-burger and Boojum.
“Investment opportunities, such as this one, with a secured 10-year lease and no tenant break options, in the sub-£1m market in Northern Ireland, are hard to come by. Bubbacue is a fantastic local success story and a great tenant. We anticipate a high volume of interest in this property and encourage any interested parties to contact our team as early as possible.”
Meanwhile, a unique investment opportunity has emerged in the property market in the Republic. A greyhound stadium, covering 17.5 acres of land in Co Donegal, is on the market.
Lifford Greyhound Stadium, which has been brought to the market by agents Lisney, “represents a unique business and development opportunity”, the agents said.
With a £1.9m price tag, the site has recently undergone significant investment and comprises a three-storey stadium, 500-yard race track, car park and kennels.
The venue has a fully-fitted catering kitchen, 240-seat restau- rant and viewing gallery, betting offices and private offices with passenger lift access.
It also includes an additional 3,000 sq-ft entertainment venue that currently has planning permission for a casino and, to the rear of the stadium, there is 7.5 acres of agricultural land, laid across three fields.
Lynn Taylor, chartered surveyor at Lisney Belfast, said: “Only 15 miles from Letterkenny, Lifford Greyhound Stadium and the adjoining land will appeal to a range of investors from both the north and south, keen to capitalise on such a unique business and development opportunity.
“The site is situated just off the N14 arterial route between Letterkenny and Strabane, facilitating convenient access and a wide catchment area.
“We are expecting a high level of demand from both business operators and potential investors, due to the significant investment in the venue to date, combined with the range of poten- tial alternative uses,” she added. Meanwhile, in Drumbeg, which is home to Drumbo Greyhound Stadium, a nearby plot of land to the rear of the former Charley Memorial School has gone on the market.
The land, according to agents Lisney, provides prime development opportunities, subject to planning.
Located at 141 Ballyskeagh Road, the 0.48 acres of rectangular-shaped land lies between Belfast and Lisburn.