Belfast Telegraph

£1.7m Mallusk site for sale with 10-year lease agreed

Commercial property

By Michelle Weir

Two major investment opportunities have arisen in Mallusk, Co Antrim.

One is the £1.7m 2.5 acre site of Zeus Packaging at Central Park. The company has just committed to a 10-year lease from the date at which the sale completes.

Zeus Packaging Group Ltd engages in the sale and distribution of packaging material to a variety of sectors ranging from pharmaceutical companies to food processing industries and major retail outlets.

This industrial investment property is fully let and comes with additional development potential.

The 35,834 sq ft industrial investment opportunity in Mallusk has been brought to market by leading Northern Ireland commercial property agent Lisney.

The property is made up of a modern two bay warehouse and interconnecting office accommodation located in the prime industrial area of Mallusk.

Stephen Chambers, associate director at Lisney, said: "Mallusk is one of Northern Ireland's leading industrial and warehousing locations with representation from a range of local and UK occupiers such as Marks and Spencer, Volkswagen, Bryson Recycling and Royal Mail. The new 10-year commitment from the tenant is a great positive, both the location and facility work really well for Zeus Packaging.

"The additional development potential on site presents an added opportunity for the incoming purchaser, and we expect strong levels of interest in this asset.

"Earlier this month, Lisney launched its Northern Ireland Commercial Property Report for Q1 2018 which revealed that already this year 1.139 million sq ft of industrial space has transacted.

"Given that just over 2.1 million sq ft of industrial space was transacted in total in 2017 and with healthy supply levels at present, we would expect industrial volumes for 2018 to remain strong."

Also, Obel 68 - 52,000 sq ft of Grade A office space arranged over basement, ground and six upper floors adjacent to the Obel Tower - was also brought to the market by Lisney this month, with offers in excess of £15m invited. The site is being sold on by US owners Marathon Asset Management

Meanwhile, a 1.58 acre development site with extensive road frontage is for sale in Mallusk at Link Road, Mayfield. A disused 32.5 acre complex at Ballyronan Road in Magherafelt is also on the market. This site is zoned for industry.

In Belfast city centre, there are five offices for sale/to let on a prime site at Great Victoria Street.

Belfast Telegraph

Weekly Business Digest Newsletter

This week's business news headlines, directly to your inbox every Tuesday.

Popular