NCP

Our work - 04/01/2019

NCP Portfolio: advised on acquisition of two NCP Car Parks in Belfast City Centre

Both car parks have a combined value of c. £28 million.

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Lambert Smith Hampton’s Belfast office advised on the acquisition of two NCP Car Parks in Belfast City Centre for a combined value of c. £28 million.

CBRE Global Investors acquired the 472 space NCP car park on Montgomery Street, while a private investor acquired the 547 space NCP car park on Dublin Road. Both properties are let to NCP with unexpired terms of 19 years on lease with index linked annual rental uplifts. Our Belfast office acted for both parties and completed the transactions simultaneously.

The opportunity to acquire such long term income with index linked uplifts is rare in the Belfast market and provided our clients with a secure income and guaranteed rental growth in the increasingly popular alternative sector.

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