2-4 Church Street, Coleraine | Property for sale | Savills
Asking price £1,475,000($1,736,960)

2-4 Church StreetColeraine

  • Sole agency
  • Freehold
Investment

Key features

  • Excellent location with dual frontage onto The Diamond and Church Street
  • 100% occupied with tenants Next, Cara Hunter MLA and Whoosh
  • Current income of £129,750 per annum
  • 93.45% of the income is secured against tenants with lower than average risk
  • Benefits from an abundance of parking in the immediate vicinity

PRIME RETAIL INVESTMENT OPPORTUNITY

About this property

  • The subject property is a three storey building which is utilised for retail purposes with a return frontage onto The Diamond and Bellhouse Lane. The building comprises of a total 4 units with Next having combined Unit 1 & 2 with a total return frontage of approximately 32.6 m, with 17.3 m onto The Diamond and 15.3 m onto Church Street. The units range from 1,497 sq. ft to 9,785 sq. ft with the total accommodation extending to about 13,428 sq. ft The tenants include Next (clothing retailer), Cara Hunter MLA (office) and Whoosh (food restaurant). The location of the subject units is conveniently close to an abundance of car parking with the Mall Car Park (223 spaces) situated behind the subject property, and Abbey Street Car Park (182 spaces). The subject property holds a prominent position in the town centre being 100% prime location within its retail core and therefore benefits from a high level of pedestrian footfall. The surrounding retailers in the area include Superdrug, Waterstones, Boots, JD Sports, Moors of Coleraine, Caffe Nero, Poundland, Greggs and Holland Barrett.

Local information

  • Situated in County Derry Londonderry, the market town of Coleraine is located along the River Bann. This area is known as the Causeway Coast with the World Heritage site ‘Giants Causeway’ just over 10 miles away, which attracted one million tourists in 2019.
  • Together with the neighbouring seaside towns of Portrush and Portstewart, this area is a major international tourist destination.
  • Coleraine provides the main retail facilities for the surrounding areas of Ballymoney, Bushmills, Portstewart and the Causeway Coast Region.
  • As the capital of the Causeway Coast, the town centre has a retail focus to provide facilities for tourists.
  • Coleraine homes the Coleraine Ulster University Campus which has over 5,000 students and around 1,300 employees, which provides the area with its largest economic and institutional entity in the north of the province.