SOLD - Newry Investment

GVA NI has recently acted in the sale of an investment at 34 Upper Mill Street, Newry for an undisclosed sum. The building positioned in Newry City Centre was let in its entirety to Smart Dental Care Group for a period of 10 years from November 2016 with a current rent payable of £15,000 per annum. This long unexpired lease term providing good income security, together with a company that recorded a turnover of c. £7,900,000 at Y/E March 2017, had significant interest when it was offered to the market.

Associate Director, Liam McAuley who was acting for the vendor comments ‘This was an excellent health sector investment which enjoyed interest from a significant number of local and national investors seeking solid long term rental return in the market. The purchase price obtained was in excess of the asking price which is evidence of the strong interest chasing after such investments’.

Source: GVA NI