1-21 Castlereagh Road Belfast , Co. Antrim , BT5 5FB

Building Site
Offers over £450,000
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Status: For sale Building Site
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Key Information

Status For sale
Price Offers over £450,000
Land type Building Site

Features

  • Prime Residential Development Opportunity Situated in East Belfast
  • Extremely Convenient Location Situated just c.1 Mile from Belfast City Centre
  • Full Planning Permission Granted for 3 Ground Floor Retail Units & 14 Two Bedroom Apartments
  • Potential for at least 24 Two Bedroom Apartments - Subject to planning permission
  • The Site extends to Approx 0.10 Acres (0.04 Hectares)

Description

Existing housing within the location of the subject site comprises of a mix of social and private housing. The area has recently undergone considerable regeneration with some new apartment developments geared towards affordable homes for first time buyers.

Demand for housing within the area is predominately first time buyers, (young professionals) and investors. Until recently, aspirational first time buyers and homeowners within the area requiring a new build home have had to consider alternative locations, as the availability of housing to purchase in this are comprises predominately older resale stock, therefore with current demand, more "New Home" housing stock is required. Two new apartment developments have been recently completed in the area, which has set the precedent for other developers to now follow.

LOCATION:
The subject development site is situated in East Belfast, approx 0.9 miles from Belfast City Centre, fronting an extremely prominent location onto Castlereagh Road, at the junction where Templemore Avenue, Castlereagh Street and the Beersbridge Road all connect.

DESCRIPTION:
The subject property comprises of Four Retail Units and a vacant site, which is presently surrounded with three x 48 sheet advertising boards fronting onto the castlereagh road. The site has considerable frontage onto Castlereagh Road and is adjacent to a car park.

TENANCY DETAILS:
Address: 15 - 17 Castlereagh Road, Belfast, Faith Mission Book Store, £6600 per annum expiring 15th May 2022
Address: 1-9 Castlereagh Road, Belfast, JC Decaux (Ireland), Currently rent free due to Covid agreement, and rolling on quarter to quarter basis.

PLANNING:
Planning permission was granted on the 24th July 2018 for demolition of existing properties and erection of 3 no. ground floor units, 14 apartments above and associated works.(ref: LA04/2017/2102/F). We have been informed by the vendor that the site may accommodate c.24 apartments, if the ground floor is included within an overall residential scheme, subject to planning. This view should be verified by your own professional advisors.
TITLE:
Assumed freehold / long leasehold
VAT:
All figures quoted are exclusive of VAT, which may be payable
VIEWINGS:
Strictly by appointment with Joint Selling Agents:

HAMPTON ESTATES 02890642888
FRAZER KIDD: 02890233111

PRICE:
Offers Over £450,000

FURTHER INFORMATION:
Contact: Michael Devlin tel: 028 90642888 Email: m.devlin@hamptonestates.co.uk

castlereagh road

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