33-37 Edward Street , Lurgan Craigavon , BT66 6DB

Additional Information

FOR SALE
33-37 EDWARD STREET
LURGAN
CO. ARMAGH
BT66 6DB

PRIME DEVELOPMENT SITE INCLUDING LICENSED PREMISES FOR SALE AS 1 OR 2 LOTS

This site has a central location within Lurgan, fronting Edward Street with secondary frontage onto Waring Street.
Planning consent approved for 3 apartment blocks consisting of 16 apartments in total in addition to a new commercial unit, off licience and
bar at ground floor level of block 3.

GUIDE PRICE:- Offers around £1,260,000
CLOSING DATE FOR OFFERS:- Thursday 19th June

LOCATION
Property located in Lurgan Town Centre. A rural town located approximately 24
miles South of Belfast, has a population of around 23,000 and is a popular
commuter town to Belfast. This site is located at the junction of Waring Street and
Edward Street.

PLANNING
Planning consent has been approved (under planning ref LA08/2021/0466/F) in
August 2023 for demolition of existing buildings and erection of 3 apartment
blocks consisting of 16 apartments in total. Proposal also includes new off licence
and bar at ground floor level of block 3 at junction of Waring street & Edward
Street.
Intending purchasers are advised to seek their own independent advice on the
planning.
The PDE response from NI Water dated 25.11.24 confirms there is available capacity at the WwTW at Ballynacorr for public foul sewer Expiry date 27.5.26.
Copy available on request.

ACCOMMODATION
Blocks 1 & 2 both consist of six apartments:
Ground Floor- one 1 bed apartments and one, 2 bed apartment.
First Floor- one,1 bed & one, 2 bed apartments
Second Floor- one, 1 bed & one 2 bed apartments
The overall floor area of each proposed block of apartments extends to approx.
468 Sqm.
Block 3 consists of
Ground Floor- Bar area, off licence, takeway, cold room, toilets, lift & lobby area.
First Floor- Two 2 bed apartments
Second Floor- Two 2 bed apartments
The overall floor area of block 3 extends to approx. 520 Sqm.
We are advised by the owner that Block 3 is currently under consideration by
Invest NI for tourism grant support of between 15-18% of build costs for self catering accommodation to Tourisn NI 3 Star Standards.

SERVICES
The existing licensed premises (Reid’s Bar) includes all main services including
water, sewage, gas, electricity and telephone.

SOCIAL HOUSING
Armagh Banbridge Craigavon (ABC) Regeneration have identified this site as
best suited to social housing with NIHE support.
The site is outside the conservation area of the town.

TITLE
The property is comprised within Land Registry Folios AR110979 & AR114517.

LICENSED PREMISES (Currently trading)
Ground Floor- 266m2
First Floor- 125m2

CURRENT INCOME BLOCK 3
The vendor has confirmed that Block 3 currently shows a 12% gross yield on
asking price.

VENDOR’S SOLICITOR
Ciaran Rafferty, Rafferty & Co 83 Hill Street Newry BT34 1DG
ciaran@ciaranraffertysol.com

EPC (Reid’s Bar)
C, valid until 19.12.34.

VIEWING
By inspection with the selling agent.

OFFERS
Whilst the agents invite offers from interested parties for this property initially on a
private basis, we reserve the right on behalf of the Vendors to conclude the bidding
(if necessary) by holding a meeting of all bidders on a specified date and time in
our office.
In the event that a meeting is to be arranged, only those parties with a valid offer
on the property can be assured of being notified of the specific time and date.

LOTS
Intending purchaser may acquire this site in 2 lots if preferred
Lot A- Land for blocks 1 & 2.
Lot B- Licensed premises for redevelopment of Block 3.

GUIDE PRICE
Lot A- Blocks 1 & 2 site for 12 apartments
Offers around £510,000

Lot B- Licensed premises
Offers around £750,000

Entire Offers around £1,260,000

CLOSING DATE FOR OFFERS
Thursday 19th June 2025