Belfast Telegraph

Ten NI properties under hammer at London auction

By Margaret Canning

Northern Ireland properties including a three-storey house in Bangor and a development site in a sought-after area of south Belfast are up for grabs at a London auction.

Auctioneers Allsop is holding the sale of a total of 340 properties at the Cumberland Hotel later this month.

Allsop has become a significant player in the auction market on the island of Ireland, and has held a number of auctions in the Republic in partnership with Irish property consultants Space.

Now it's added 10 properties in Northern Ireland to its auction on July 20.

As well as appearing in person at the auction, parties can also bid online, bid by phone or bid by proxy.

The lots are spread across the province. In Co Tyrone, nearly four acres close to Glenelly Road in Cranagh are up for auction at a guide price of £25,000 or over.

In Co Down, a 0.5 acre site at Whinny Hill in Gilford has a guide price of £50,000 or over.

A site at 4 and 6 New Road in Portavogie has two homes on it and is described as having potential for redevelopment. It has a guide price of £40,000 or over.

Also in Co Down, a site on Spa Road with six homes and agricultural road has a guide price of over £50,000. However, Allsop warns that one property is occupied on 'terms unknown'.

Meanwhile, in south Belfast a site described as 22A New Forge Lane, made up of 10.43 acres, has a guide price of £175,000 or over.

New Forge Lane, one of the most exclusive addresses in Belfast, is a semi-rural road just off the Malone Road and close to the tow path linking Lisburn and Stranmillis. There is just one property representing Antrim in the auction, a two-bed house in Laharna Avenue in Larne with a guide price of £40,000 or over.

And in Londonderry, three terraced buildings are up for grabs. The city's contribution includes 19 Crawford Square, a freehold end of terrace Grade B1 listed building.

It is arranged into two commercial units and 21 flats.

The building has a guide price of £350,000.

A similar terrace with bay windows will also be available on Eden Terrace in the city, with a guide price of £70,000 or over. 9 Eden Terrace is divided into three flats.

And 13 Mount Street, which is also split inside to provide three flats, has a guide price of £40,000 or over.

Meanwhile, a Caffe Nero building on Main Street in Strabane has gone on the market for £425,000.

The coffee shop is let to Caffe Nero parent company Nero Holdings Ltd on a 10-year lease at an initial rent of £35,000. And there is no tenant break clause written into the lease.

In addition, the tenant is responsible for repairs inside and outside the building.

The site, described as a "prime investment", has been put on the market by its owner through commercial property agents Frazer Kidd.

Partner Brian Kidd said the site was also close to other national retailers and institutions, including Santander, B&M and Subway, making it a "prime" site.

It's understood to be the second Caffe Nero premises in Northern Ireland to come on the market since the chain set up here around 10 years ago.

"It's very attractive because it has a 10-year lease term without any tenant break, while tenants are also responsible for all repairs on the inside and outside," said Mr Kidd .

"For an investor who's looking for something quite easy and not too hard to maintain, it is very suitable.

In addition, with interest rates as low as they are at the minute, it would give someone with cash in the bank a better return than you can get on the money markets at the minute."

Belfast Telegraph