Unit 2, Station Square Retail Park, Molesworth Street, Cookstown, BT80 8PA

 SUMMARY

Let to Argos Ltd, owned by FTSE 100 company J Sainsbury plc, for the term of 10 years and 5 days from 26th April 2019, with forthcoming rent review due 25th April 2024.

Rent £87,500 per annum, exclusive.

Price: Offers in the region of £825,000, exclusive. A purchase at this price will reflect an initial yield of 10.06% after allowing for purchasers costs.

Estalished in 1973, Argos is a leading UK general merchandise retailer offering more than 60,000 products through its 1,200 outlets, website and apps. Argos is the UK’s number one toy retailer and a market leader in furniture, homewares and electricals with 29 million store customers and nearly 1 billion online visitors each year.

LOCATION

Cookstown is a busy market town with a resident district population of approximately 23,049 people and an estimated 75,000 people within a 15 minute drive time. The town is located approximately 45 miles west of Belfast and 50 miles south-east of Derry/ Londonderry.

Cookstown is a popular retail location with noteable retailers in the town including Tesco and Asda superstores, Homebase, Next and Marks & Spencer. Station Square Retail Park is situated in Cookstown town centre, beside Cookstown Bus Station and opposite the main schools campus for the town.

Adjoining occupiers in the Retail Park are Lidl, Carpetright, Harry Corry Ltd and the Oriental Buffet Restaurant.

DESCRIPTION

The property, built together with the other units in Station Square Retail Park in 1999, is of steel portal frame construction with Kingspan composite cladding panelled walls, 100 mm blockwork interior leaf to 3 metres height and roof is composite insulated panels with 10% rooflights. The property is fitted to the Argos corporate specification. The site of Station Square Retail Park is approximately 1.35 hecatares (3.3 acres) and has free car parking for approximately 240 vehicles fronting Molesworth Street.