5 Pearse Street, Nenagh, Co. Tipperary,

Features

• 
  High profile location on Nenagh's principal shopping street, next door to Dunnes Stores.
  Immediate rental income with significant rental growth potential.
  Ground floor commercial unit let 

Description

The property comprises of a relatively newly constructed three-storey over basement building which forms part of a parade of commercial buildings. The property consists of the ground floor and basement unit, two first floor units and four one bedroom apartments at upper floor levels. The units are all individually wired and a fire alarm is installed. The apartments have been fully refurbished and are ready for letting and accordingly the current rental income is highly reversionary and could easily be substantially increased by the new owner. We would estimate that based on our opinion of the likely rents achievable and a purchase price of say €1,100,000 that the property is capable of producing a return of 5.0% after allowing for normal acquisition costs.

The ground floor & basement commercial unit is let to Jelan on a 35 year lease from 1-5-93, with 5 yearly rent reviews at a rent of €37,000. The first floor is let on a yearly letting agreement at a rent of €758.33 pcm and is due for renewal on the 1st of March 2008. Further lease details are available on request. Tenants not affected by the proposed sale of the investment.

Each apartment comprises of the following: kitchen/living room, bedroom and bathroom (elect. shower, wc, whb). The total gross internal area of apartment 1 is 30.18 Sq.M, apt. 2 is 31.81 Sq.M., apt. 3 is 27.6 Sq.M and apt. 4 is 30.0 Sq.M.

The ground floor unit comprises of 63.806 Sq. Metres (687 Sq.Ft.) at ground floor level and 43.91 Sq.Metres (473 Sq.Ft.) at basement level. The total Nett internal floor area held under this lease is 107.72 Sq. Metres (1,160 Sq.Ft.). The first floor is split into two separate units both of which are currently held under the one lease. The front unit comprises of approximately 23.98 Sq. Metres (258 Sq.Ft.) and the rear unit of 24.89 Sq.M (267 Sq.Ft.) totalling 48.82 Sq.M (525 Sq.Ft.) at first floor level excluding both toilets.


Location
The property is located in the prime trading position on Nenagh's main shopping street. Nearby occupiers Dunnes Stores, Bank of Ireland, Avanti Shoes, News Flair, Elvery's Sports, and PTSB.

Viewing Details: By appointment

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