A large portion of “one of Newry’s busiest business parks” has gone on the market for almost £3 million as a going concern.
The complex, Carnbane East Industrial Estate, is based off Carnbane Way, just two miles from Newry City centre, in the heart of a thriving industrial hub.
Its total of 10 units are currently sub-divided into five showroom/trade counter units, all occupied by established tenants including Screwfix, Bassetts, Fyfes, Johnstone’s Decorating Centre and PTS.
Boasting a “strategic cross-border location” in close proximity to Newry city and midway between Belfast and Dublin, the site benefits from excellent connectivity by both road and rail.
According to the listing agent – McKibbon Commercial – the estate has become a “hub for trade counter, distribution and showroom operators, drawing strong footfall and consistent occupier demand”.
As a fully let premises with attractive cross-border connectivity, the agent describes the property as an “attractive investment opportunity” adding that it currently produces £186,385.75 per annum, exclusive in rental income.
As such, the agent is now inviting offers over £2,800,000, “reflecting a net initial yield of c. 6.42%, after purchaser’s costs”.
It is understood the trading businesses within the centre will be unaffected by the sale of the property.
