City in­dus­trial es­tate for sale

Belfast Telegraph - Business Telegraph - - News - BY MAR­GARET CAN­NING

A Well-known in­dus­trial es­tate in north Belfast with the po­ten­tial for long-term re­de­vel­op­ment has gone on the mar­ket for £2m.

Eden­derry In­dus­trial Es­tate on Crum­lin Road oc­cu­pies five acres and is de­scribed by sell­ing agents Col­liers In­ter­na­tional as a “re­de­vel­op­ment/in­dus­trial in­vest­ment op­por­tu­nity”.

Ten­ants on the site were de­scribed by Col­liers’ di­rec­tors as “an eclec­tic mix from of­fice users to stor­age to pho­tog­ra­phy stu­dios, to name but a few”.

And they an­tic­i­pate in­ter­est from in­vestor buy­ers, drawn by the site’s “at­trac­tive” yield of 13%.

Ten­ants are not af­fected by the sale, while a de­vel­op­ment of loft­style apart­ments are not in­cluded in the sale.

Mean­while, com­mer­cial agency Lis­ney is let­ting out an of­fice de­vel­op­ment at Lanyon Quay, and act­ing in the sale of sites on the Saint­field Road and Ni­chol­son Green in Don­agh­cloney.

Di­rec­tor David Mc­nel­lis said it ex­pects “sig­nif­i­cant in­ter­est” in the let­ting of Unit 2C at Lanyon Quay.

“City cen­tre of­fice stock re­mains low, par­tic­u­larly in units of this size fit­ted to such a high stan­dard,” he said.

“In­ter­nally, the space has been sub­di­vided to pro­vide two large open plan of­fice ar­eas, a smaller of­fice area, a pri­vate meeting room and a board­room.

“Over­look­ing the River La­gan, the lo­ca­tion could not be bet­ter for busi­nesses seek­ing to po­si­tion them­selves in the heart of Belfast.”

He said the 0.35-acre acre site in Don­agh­cloney would be of in­ter­est to builders, as the mar­ket for sites had seen lit­tle sup­ply in the last six months. There is plan­ning per­mis­sion for eight houses.

And he said the sale of a 5,000 sq ft site on Saint­field Road out­side Belfast “presents an ideal lo­ca­tion for com­mer­cial re­tail or res­i­den­tial use”. It is “in close prox­im­ity” to Forest­side Shop­ping Cen­tre. There is also the pos­si­bil­ity of re­de­vel­op­ment in the longer term.

The loft-style apart­ments are sold and aren’t in­cluded in the sale.

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