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Co Fermanagh properties set to attract strong interest

Commercial property

By John Mulgrew

A large Co Fermanagh property on the market - which currently plays host to McDonald's - is expected to attract "a good level of interest", it's been claimed.

Cathcart Square, which is on the Dublin Road in Enniskillen, is now on sale for offers in the region of £895,000.

It currently has an annual rental income of £72,950, with around two thirds of that coming from tenant McDonald's.

Stuart Draffin from Lambert Smith Hampton, which is acting as joint agent alongside Montgomery Finlay & Co, said: "There are currently few opportunities to secure medium term income in Northern Ireland from a covenant like McDonald's and as such we expect a good level of interest in Cathcart Square."

The firm's Martin Mallon has said there has already been a "high level of interest" in a listed Belfast building which was placed on the market late last month.

The four-storey building at 103-107 Royal Avenue was designed by Thomas Jackson & Son and built between 1883 and 1884. It's on sale for £800,000.

It's currently home to several businesses, including the Belfast Coffee Company and The Money Shop. The upper floors have been used as office space.

The building was given a B1 listed status in 1979.

"Since coming to the market earlier this month there has been a high level of interest in this property," Mr Mallon said.

"The property is very well located close to a number of significant developments in the heart of Belfast city centre and it offers an excellent investment opportunity, with a range of future asset management possibilities."

Forster Green & Co operated a shop at part of the building until 1915. Montague Burton Ltd acquired the building from Forster Green & Co in December 1939, and Burtons operated a shop from 103-105, which remained open until 1990.

It sits close to where one of Belfast's largest development projects is soon to get underway.

Work on the £400m Royal Exchange project in Belfast city centre could begin as soon as this summer. Fresh plans reveal it will include a 'tall building' which could feature a mixture of apartments and retail. The development is a 12-acre site based around Royal Avenue.

And fresh plans from new owners Castlebrooke Investments show a move away from a retail-led scheme to include offices as well as accommodation, as part of a so-called 'mixed use' development.

Elsewhere, commercial property firm CBRE is selling a 2.75 acre site at Mallusk. The site on the Michelin Road, which includes warehouse and office space, covers more than 20,000 sq ft. It's gone on sale for offers around £600,000.

And in Ballykelly, OKT is now selling 3.7 acres of land which could be developed into housing.

Meanwhile, two shop units in a Co Londonderry town have gone on the market at around £800,000. And agents Savills said they expect that the Coleraine properties will be snapped up by a cash buyer. Numbers 3 to 5 Church Street in the town are let out to retailers JD Sports and The Edinburgh Woollen Mill, generating £87,000 in rent.

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