Commercial Property: Iceland store in Dungannon for sale with asking price close to £700,000
A store let to frozen food retailer Iceland has gone on the market for nearly £700,000.
The supermarket on Scotch Street in Dungannon is let to Iceland until July 2027 on a rent of £55,500 per annum.
The purpose-built food store measures around 7,105 sq ft and has a starting price of £695,000.
Harry Crosby, associate director of selling agents Osborne King, said: “The property comprises a purpose build Iceland foodstore situated in an accessible position with Dungannon town centre.
“The lease was recently extended until July 2027 showing Iceland’s commitment to the store.
“We are expecting significant interest given the lack of good quality investment assets currently available on the market.”
In June, Iceland Foods announced results for its holding company Iceland Topco which showed an increase in sales in the year to March 29 2019 of 4.5% to £3bn on a like-to-like basis, ahead of the grocery market as a whole.
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The business said it had opened 43 new stores, while its The Food Warehouse chain expanded from 57 to 90 stores. It also joined forces with discount supermarket The Range, with Iceland’s foods now added to nine The Range stores.
Earlier this year, Iceland announced the opening of its 36th store in Northern Ireland in Rushmere Shopping Centre in Craigavon.
Meanwhile, an industrial unit in Mallusk is also on the market. Agents GVA NI have said that 7b Enterprise Way is up for rent though the unit could also be sold.
The unit is on the third floor of the Rose Building. GVA NI described the unit as in a “superb location in Mallusk, one of the premier industrial locations in greater Belfast”.