Lisburn bar goes on the market

The Wallace bar and restaurant which is up for sale. US1520-503cd  Picture: Cliff Donaldson
The Wallace bar and restaurant which is up for sale. US1520-503cd Picture: Cliff Donaldson

A landmark building in Lisburn, The Wallace bar and restaurant, is on the market for offers around £500,000-£600,000.

The popular bar, owned by Osiris Bars Ltd, located on the banks of the River Lagan went up for sale last month.

Commerical property agents GVA NI, described the former ‘Point’ development ‘as occupying a prominent position at one of the busiest junctions where Bridge Street, Laganbank Road, Queens Road and Sloan Street all converge.’

According to the agents it also boasts of a frontage onto both the main A1 road on one side, and the River Lagan on the other, which benefits from an excellent flow of pedestrian and vehicular traffic.

Planning permission was previously granted for the construction of 39 apartments in October last year with associated parking.

The site which consists of an area of 0.45 acres can be sold with or without an intoxicating liquor licence.

The building extends to 8,000 square feet with views over the River Lagan along with 25 car parking spaces.

According to the agents, “The building would suit redevelopment for a wide range of commercial uses such as office, medical, consultancy or day/child care (subject to planning consent).

“Potential for redevelopment for residential use (subject to planning/ther statutory consents).”

Gavin Weir, Director of GVA, said “We received a strong level of interest reflecting the general recovery that we are witnessing in the local market.

“Perhaps unsurprisingly given the location and quality of the existing building, this interest has come from a wide range of end users that has went beyond just the hospitality sector.

“The 8,000 sq ft building with its 25 on site car parking spaces could suit a variety of uses.

“We have also had a number of enquiries from parties seeking to pursue a high density residential development on the site overlooking the Lagan.” he added.

The closing date for offers will be June 5 at noon.

Anyone interested can ring GVA on 02890-316121.