Dear Mr. Andrews,
RE: Smithfield Square and Francis Street
Andrews & Company (Belfast) Limited
As requested we inspected the above premises to advise on the market value of same.
For your guidance we attach a plan enclosing in red the showroom premises fronting Smithfield Square and enclosing in blue the site fronting Smithfield Square and Francis Street. We also attach Ordinance Survey Map enclosing the both properties.
This two storey building which was built as a Car Showroom has a frontage to Smithfield Square of 42 feet and a depth of 80 feet 8 inches the Ground Floor being approximately 3,016 square feet, the First Floor excluding toilets etc. has an approximate area of 2,827 square feet of showroom and 150 square feet of an office.
The site has an approximate area of 11,125 square feet with entrances from Francis Street.
We have not checked title in the above but assuming same is either freehold or a very nominal rent is paid and there is no adverse covenants in title, it would be of our opinion that the showroom premises would obtain a figure in the region of £30,000 and the site in the region of £5,000.
DESMOND McCONNELL, MARTIN & CO.
[How did a professional valuer like Mr. Mairs reach a valuation of £35,000 in total for Freddie's showroom property in Smithfield when two years later solicitors Tughan & Co 'sold' this one property to the Ryland Vehicle Group without the knowledge of Freddie or our family for £375,000? The answer is simple. Mairs was playing the same game as Charles Gilpin who, with others, cornered my brother Billy in the office of solicitors Tughan & Co, refused him permission to get his solicitor present and forced him sign over his shares in his company on the understanding that Freddie's premises, being the car showroom which Billy ran his business in, would be included in the deal for an extra £35,000.]