Developer Patrick Kearney puts prime Boucher Road site up for sale
A prime commercial site housing a well-known car showroom off Boucher Road has gone on the market for £1.3m.
Meadows Centre on Boucher Place and 22 Boucher Crescent is a mixed development currently housing retail, warehouse, office, trade counter units and the stand-alone Mervyn Stewart Infiniti Car Showroom.
Owned by one of Northern Ireland's highest profile property developers, Patrick Kearney's company Kilmona Holdings, the site covers 1.1 acres and lies just 100 metres from Boucher Retail Park where retail names Next, Matalan and Boots occupy units.
The lot is made up of eight units including the car showroom on Boucher Crescent and large hair and beauty product supplier and salon, Capital, as well as a gym and other businesses.
At present there are three units vacant on the site with the remainder of the tenants in various stages of contracts. In total the site can produce a gross income of £115,600 per year.
The listing comes just days after Mr Kearney's ambitious apartment complex earmarked for Dalton Road close to the M3 in Belfast, was recommended for planning approval.
The residential project proposes almost 200 apartments, three retail units and a gym across two multi-storey buildings.
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It is just one of many new residential and commercial schemes that Mr Kearney is behind. He is also part of the Carryduff Shopping Centre redevelopment which was granted approval late last year
It will see what is one of NI's oldest shopping centres knocked down and rebuilt to include a renovated former SuperValu site, the construction of three retail units and a restaurant, the retention of two existing units and the construction of 21 apartments, car parking and extensive landscaping.
And Mr Kearney is pressing ahead with a £40m bid for two new apart-hotels in Belfast under the Ten Square brand just one mile away from his Meadow Centre site on Stockmans Way and Apollo Road.
Among Mr Kearney's other business interests are hotels which operate under Kilmona's hospitality subsidiary, Loughview Leisure.
Loughview's portfolio includes Ten Square Hotel in Belfast, Chimney Corner Hotel in Newtownabbey, the Loughshore Hotel in Carrickfergus and the Bad Ass Kitchen restaurant behind Belfast City Hall.
Revenues at Kilmona Holdings rose from £13.6m to £29.7m in the year to June 30, 2018 on the back of its properties and hotels.