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Four Iceland shops on market for nearly £6m

By Margaret Canning

Published 14/06/2016

The Iceland supermarket on the Antrim Road is one of four on the market
The Iceland supermarket on the Antrim Road is one of four on the market

Four  Iceland supermarkets in Belfast have gone on the market for nearly £6m.  A private investor who did not wish to be identified is believed to be behind the sale of the four supermarkets, which are fully let to Iceland until 2030. 

Commercial property agents Osborne King are the selling agents for the stores on Antrim Road, Shankill Road, Newtownards Road and Finaghy Road South, with asking prices from £1.135m to £1.59m.

The Shankill Road store is the lowest priced, at £1.135m, while the Newtownards Road store is the highest.

Finaghy Road South has a price tag of £1.275m, while Iceland on Antrim Road is priced at £1.46m. 

And Osborne King said they expected interest from Northern Irish investors, and from further afield. Each store is being sold separately. 

Osborne King director David McClure said: “The local investment market has been starved of good quality product of late, particularly in respect of opportunities at the lower end of the market, and thus interest has already been brisk with local cash-rich private investors recognising the quality of tenant and attractive unexpired lease term on offer.”

While let to Iceland until 2030, there is potential for tenant breaks in February 2025.   

Meanwhile, Osborne King is also selling agent for popular south Belfast venue Soul Food Cafe.

The Ormeau Road cafe is described as “long established” and is on sale as a leasehold business including lease, goodwill, fixtures and fittings. The building is not part of the sale. 

Mark Carron of Osborne King said it had attracted strong interest. “The Ormeau Road has improved lately and there is a lot of competition on it,” he added.

And Lambert Smith Hampton is acting in the proposed sale of an industrial complex on Doagh Road in Ballymena. 

The complex of industrial units — including car retailer — will be auctioned on July 1 at Europa Hotel. 

Online Editors

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