Castle Lane retail investment and offices sold for about £4m

Belfast agents Campbell Cairns are understood to have agreed terms for 7-11 Castle Lane, one of the few prime retail investments…

Belfast agents Campbell Cairns are understood to have agreed terms for 7-11 Castle Lane, one of the few prime retail investments to come on the market in the city in the past year. They had been quoting £4 million sterling. The property is on the primary shopping spur between Donegall Place and Arthur Square. It is situated beside retailers, including Bhs, River Island, Top Man, H Samuel, Sports Division, Carphone Warehouse and Clinton Cards. The property is divided into three retail units with office accommodation overhead. The ground floor retail units are between 810 sq ft and 1,375 sq ft. The total rental income is put at £337,000, with Zone A rental rates estimated at £175 per sq ft. The first and second floor office accommodation is estimated at £5 per sq ft.