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Contact Simon Brien Bradley (Newcastle)

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Investment

Exceptional Investment Opportunity, 49 -51 Central Promenade

Newcastle, BT33 0HH

offers over £730,000
  • Status Sale Agreed
  • Property Type Investment
  • Stamp Duty
    Higher amount applies when purchasing as buy to let or as an additional property
    £26,500 / £63,000*
  • Typical Mortgage
    Click price to use our mortgage calculator
EPC Rating

Key Features

  • Execeptional Investment Opportunity
  • Redevelopment Potential STP e
  • Mixed Use Income Producing Investment Opportunity
  • Prime Location with Sea Front Views
  • 3 Tenanted Commercial Units
  • 4 Apartments
  • 1 Garage

    • Rooms

    CLOSING DATE FOR OFFERS: Thursday 3rd July at 12 Noon
    CENTRAL PROMENADE NEWCASTLE 49-51 Central Promenade & 2 - 4 Causeway Road
    OVERVIEW Exceptional mixed use, income producing investment opportunity on sea front with redevelopment potential STP

    - 3 Commercial Units
    - 4 Apartments
    - 1 Garage
    WHAT'S ON OFFER 49-51 Central Promenade & 2 - 4 Causeway Road is located in the very heart of the seaside town of Newcastle in the south of County Down, Northern Ireland. A prominent fixture along the Central Promenade, the property was for many decades the location of the family operated Thornton´s Pharmacy. In more recent years, the properties have been sub-divided to provide an excellent mixed use commercial development that offers 3 no. tenanted commercial units, a garage, and 4 no. 2 and 3 bed apartments available with vacant possession.

    The existing tenancies offer an immediate income which can be further enhanced via rent reviews, along side the letting of the vacant apartments. Of course, the properties prime location on the Central Promenade and within the town centre development limit (Ards and north Down Area Plan 2015), offers significant opportunity for partial or complete redevelopment, subject to planning.
    WHAT'S INCLUDED - 3 Tenanted Commercial Units
    - 4 Apartments
    - 1 Garage
    LOCATION Newcastle is a popular seaside resort town in County Down, Northern Ireland, which boasts a population of 8,298 as at the 2021 Census. Newcastle is located overlooking the Irish Sea at the foot of Slieve Donard, the highest of the Mourne Mountains. The town is reknowned for its sandy beach, forests, and mountains, as well as, the champion golf course, Royal County Down which played host to the Irish Open in 2015.

    In recent years, Newcastle has welcomed a resurgence in popularity due to its scenic setting and expansive lifestyle opportunities. The town has attracted investment from a range of mutli-national operators and includes Lidl, Tesco, Cafe Nero and the world renowned Slieve Donard Hotel and Spa. Furthermore, the demand of residential property in Newcastle has resulted in record breaking values with the town being regarded as the highest value area on the south down coast. The property is located c. 30 miles south of Belfast and 20 miles east of Newry.
    TENANCY SCHEDULE Available on request.
    PRICE Offers Over £730,000
    TITLE Freehold
    EPC Non Domestic: C56
    Domestic: E53
    TERMS OF SALE The property is being offered For Sale by Private Treaty with the closing date for offers being Thursday 3rd July at 12 Noon. However, the vendor reserves the right to conclude the sale via auction or "Best and Final" bids at a date and time to be confirmed. Only those parties with a verified bid at the time of closing will be invited to participate in the concluding auction or "Best and Final" bids.

    The criteria required from interested parties in placing an offer must include:

    Confirmation of name and address of proposed purchaser
    Confirmation of offer level
    Proof of funds from Bank to confirm that adequate funds are available to complete the purchase at offer level
    Timescale to complete the purchase post acceptance of offer
    Confirmation of solicitor who will represent purchaser
    10% deposit of agreed purchase price shall be payable upon agreement of sale
    Further information pack to be provided at this point
    FURTHER INFORMATION Inspection of the site is strictly by private appointment. For further information please contact:


    Garrett O'Hare, Managing Director
    T: 028 4372 3220
    E: garrett.ohare@bradleyni.com
    Bradley NI, 51 Main Street, Newcastle, BT33 0AD


    Joint Agents:

    Aaron Ferris, Director
    T: 028 446 14101
    E: downpatrick@ulsterpropertysales.co.uk
    Ulster Property Sales, Unit 7, 49-51 Market St, Downpatrick, BT30 6LR

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    Disclaimer: The following calculations act as a guide only, and are based on a typical repayment mortgage model. Financial decisions should not be made based on these calculations and accuracy is not guaranteed. Always seek professional advice before making any financial decisions.

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    Contact Simon Brien Bradley (Newcastle)

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    Exceptional Investment Opportunity, 49 -51 Central Promenade, Newcastle, BT33 0HH Exceptional Investment Opportunity, 49 -51 Central Promenade, Newcastle, BT33 0HH

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