Property adviser Savills has been appointed to market three retail assets in Northern Ireland.
Property adviser Savills has been appointed to market three retail assets in Northern Ireland.
Savills was mandated by a private client to sell the assets, whose combined value amounts to over £35 mln (€41 mln).
The properties are located on Highfield Road in Craigavon, Co Armagh, about 33 kilometres from Belfast.
Totalling 11,250 m2, the largest asset is a purpose-built food store let to Tesco Stores on a lease expiring in 2035. The retailer currently pays an annual rent of just over £1.39 mln. Savills is seeking offers in excess of £22.9 mln.
Located adjacent to the food store at Marlborough Retail Park is the B&Q store totalling 7,712 m2 along with the Halfords unit comprising 724 m2, which are being marketed at guide prices of £11.4 mln and £850,000 respectively. B&Q currently pays an annual rent of £1 mln on a lease expiring in 2026, while Halfords lease expires in 2021 at a rent of £89,784.
