FOR SALE - DECOURCY SHOPPING CENTRE, CARRICKFERGUS
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FOR SALE - DECOURCY SHOPPING CENTRE,
CARRICKFERGUS
NEXT
FOR SALE: DE COURCY SHOPPING CENTRE, CARRICKFERGUS
02
INVESTMENT SUMMARY
• Excellent provincial town centre retail scheme
• Current Net income £231,860 p.a exc (£221,660 p.a exc as of August 21)
• Tenants include Iceland, Home Bargains, New Look and Poundstretcher
• Total Area c. 54,000 sq ft on a site of approximately 2.4 acres
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FOR SALE: DE COURCY SHOPPING CENTRE, CARRICKFERGUS
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LOCATION
Carrickfergus has a population of c. 40,000 and a wider catchment of
c. 100,000 within a 15 minute drive.
The town is located 10 miles north east of Belfast and benefits from
excellent communication links, with convenient access to the A2,
M5 and M2 motorways and NIR rail networks. Mid and East Antrim
Council Civic Centre is immediately adjacent to the property.
Tesco, Sainsbury’s, Lidl and Marks and Spencers are all located within
the town.
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FOR SALE: DE COURCY SHOPPING CENTRE, CARRICKFERGUS
04
DESCRIPTION
DeCourcy Shopping Centre is located in the heart
of the town centre and forms the principle retail
pitch within the town. Adjacent high street retailers
include Poundland and Savers.
The scheme is anchored by Iceland, Home Bargains
and Poundstretcher and comprises a modern single
storey mall with over 300 free nearby car parking
spaces.
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05
NEXT
Y
LER
GAL T
& AR
PREVIOUS
A
ARE
EUM
MUS
P
VICE
SER
INFO
CAR PARK
T
N STREE
TERIA
RIMA’S T
URAN
RESTA
LANCAS
HOP
SK8T S
OLOUR
D OF C
WORL
S
JEANIU
E
RS D CAR
CASKE BLYTH
SWOO
STORE
POST WC
E
OFFIC
FOR SALE: DE COURCY SHOPPING CENTRE, CARRICKFERGUS
EN
HIDDD
G
HEARIN
BWF
HOSTING
NORTH STREET (LOADING & DISABLED ONLY)
FLOOR PLAN
FOR SALE: DE COURCY SHOPPING CENTRE, CARRICKFERGUS
06
TENANCY SCHEDULE
GIA (SQ PASSING RENT CURRENT LANDLORD
UNIT TENANT TERM LEASE START LEASE EXPIRY COMMENTS
FT) (PA) NAV LIABILITIES
1 Budriene t/a Rima’s Restaurant 1,200 2 01/05/2017 30/04/2019 £10,000 £6,400 Overholding.
2 P&M Wady t/a Sk8t Shop 1,250 1 - 30/04/2021 £0 £6,450 £471 Paying SC only, overholding.
Month to month Tenancy at Will.
3 Colin McKee t/a Jeanius 1,250 1 n/a n/a £3,169 £6,400 £419
Rent inc. insurance.
4 Hamilton t/a Caskers Cards 1,250 5 01/07/2015 30/06/2020 £8,000 £6,400 Overholding.
5 Vacant 1,500 £0 £7,000 £7,168
6a BWF Hosting 2,300 5 10/10/2019 09/10/2024 £4,500 £11,000 £7,043 Paying £4,500 pa towards SC only.
6b Hidden Hearing 1,000 10 02/09/2017 01/09/2027 £8,000 £5,900
7 Tracey McCrum t/a Post Office 500 6 03/10/2011 02/10/2017 £0 £3,850 Overholding, paying SC only.
8&9 Blythswood Care 2,500 5 01/09/2016 31/08/2021 £17,600 £13,200
10 Ellen Dickson t/a World of Colour 1,300 3 02/08/2017 01/08/2020 £9,065 £6,750
11 BonMarché 3,050 1 18/05/2021 17/05/2022 £0 £19,300 £4,670 Paying 50% SC only.
17a Vacant 2,100 £0 £8,500 £9,586
17b Card Factory 2,100 5 17/04/2018 16/04/2023 £19,000 £8,650
Rent drops to £42,500pa from
18 Iceland 7,000 5 27/08/2021 26/08/2026 £52,700 £18,900
26/8/21.
Tenant Break Option in years
19a Home Bargains 9,000 15 01/10/2010 30/09/2025 £67,500 £23,900 £8,768
21/22/23/24.
Rent based on 7% of turnover.
19b New Look 7,400 5 TBC TBC £30,000 £18,900
New lease being signed.
19c Poundstretcher 9,000 5 12/05/2021 11/05/2026 £35,000 £30,200 £6,549
Office Management Office 129 £810
Mall App Income £12,000
CURRENT AUG 2021 NOTE: Landlord liabilities include any rates
TOTAL INCOME £276,534 £266,334 and service charge contributions paid by the
TOTAL LIABILITIES £44,674 £44,674 landlord under the current lease agreements.
NET INCOME £231,860 £221,660
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FOR SALE: DE COURCY SHOPPING CENTRE, CARRICKFERGUS
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COVENANT INFORMATION
In excess of 70% of rental income is generated from multi-national retail
operators including Home Bargains, Iceland and Card Factory.
TJ Morris Ltd have a ‘Gold’ health rating on ‘Red Sportswift Ltd have a ‘Silver’ health rating on ‘Red Iceland Foods Ltd have a ‘Silver’ health rating on
Flag’. In 2020 they had a turnover of £2.79bn and Flag’. In 2020 they had a turnover of £433m and ‘Red Flag’. In 2020 they had a turnover of £3.19bn
a pre tax profit of £262m. a pre tax profit of £67m. and a pre tax profit of £1.4m.
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FOR SALE: DE COURCY SHOPPING CENTRE, CARRICKFERGUS
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ASSET MANAGEMENT
Opportunities to extend and regear existing tenants lease terms to ensure
long-term commitment, specifically Home Bargains and Bonmarché.
Options to explore temporary lettings/pop-up opportunities for the vacant
units in order to reduce landlord liability and increase net income.
There are options for potential alternative uses by repurposing an element of
the scheme for leisure, office or residential use subject to planning.
TENURE
Title to the DeCourcy Centre comprises a mixture of freehold and leasehold
land registered under Folios AN42020, AN49362L, AN156093L and
AN49363 all County Antrim.
PROPOSAL
We are instructed to seek offers in excess of £1.6m subject to Contract and
exclusive of VAT, reflecting a Net Initial Yield of 13.65% after deduction of
standard purchaser’s costs of 6.14%. This would reflect a low capital value of
approximately £29.72 per sq ft.
VAT
It is envisaged the sale will be treated as Transfer of a Going Concern (TOGC).
ADDITIONAL INFORMATION
A soft legal pack including lease and title will be provided to genuine
interested parties.
VIEWING
Viewing by appointment only via the Joint Agents.
EPC
EPC’S range from B46 to E118. Full copies available on request.
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FOR SALE: DE COURCY SHOPPING CENTRE, CARRICKFERGUS
09
Richard McCaig MRICS Mark Thallon MRICS
Phone-Alt +44 (0)28 9027 0034 Phone-Alt +44 (0)28 9089 4066
Mobile-Alt +44(0)79 0352 5280 Mobile-Alt +44 (0)78 0252 0008
The Metro Building, 6-9 Donegall Square South, Belfast, BT1 5JA 85 Victoria Street, Belfast, BT1 4PB
ENVELOPE-OPEN richard.mccaig@osborneking.com GLOBE www.osborneking.com ENVELOPE mark.thallon@tdkproperty.com GLOBE www.tdkproperty.com
DISCLAIMER
The premises are offered subject to contract, availability and confirmation of details. The particulars do not form part of any contract and whilst believed to be correct, no responsibility can be accepted for any errors. None of the statements contained in
the particulars are to be relied upon as statements of fact any attending purchasers or lessees must satisfy themselves by inspection or otherwise as to the correctness of those statements. The vendors or lessors do not make or give Osborne King & Megran
Limited/TDK or any person in its employment, any authority to make or give any representation or warranty whatsoever in relation to this property. Unless otherwise stated, all prices and rentals quoted are exclusive of any Value Added Tax to which they
may be subject. These particulars are issued on the understanding that all negotiations are conducted through this company. Osborne King & Megran Limited: Registered in Northern Ireland No. 27969. Registered Office: The Metro Building, 6-9 Donegall
Square South, Belfast, BT1 5JA. TDK Commercial Property Consultants: Registered Office: 85 Victoria Street, Belfast, BT1 4PB. Any maps / plans based on the Ordnance Survey Map with the sanction of the controller of H.M. Stationery Office Crown
Copyright Reserved Licence No. CS 369. Any plans are for convenience only. Their accuracy is not guaranteed and shall not be deemed to form part of any contract. Reproduced with the consent of Goad Cartographers Ltd, Old Hatfield.
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