DescriptionThe property comprises a mid-terrace two storey mixed-use building. The ground floor is laid out to provide for a refurbished self-contained retail unit. The retailing accommodation is predominantly open plan with storage and staff w/c facilities situated to the rear.
The first floor is accessed via separate entrance fronting onto Kilbarrack Road. The accommodation is currently in use as a hairdressers and beauty salon and is laid out in a mixture of open plan and self-contained treatment rooms.
The entire extends to approximately 2,453 sq.ft.
The ground floor is leased to McHugh Limited for a term of 35 years from 1 December 1987. The current passing rent is €48,000 per annum.
The first floor is leased for a term of 5 years from 27 March 2017 at a stepped rent of years 1 & 2: €12,000, years 3 & 4: €13,000, year 5: €14,000.
The total passing rent equates to €61,000 per annum.
The property is zoned Zone Z3: Neighbourhood Centre under the Dublin City Development Plan 2016-2022.
We understand the property is held freehold.
We understand all main services are connected and supplied to the building.
Offers are sought in excess of €650,000 exclusive.
FeaturesHigh profile mixed use investment situated on the Kilbarrack Road
Immediate net initial yield of 8.53
Total floor area of approximately 227.8 sq.m (2,453 sq.ft)
Generating a rental income of €61,000 per annum
Tenants not affected
Location51 Kilbarrack Road is located within a parade of shops on the south side of Kilbarrack Road within close proximity to its junction with Kilbarrack Avenue to the west and St. Margaret's Avenue to the east.
There is excellent transport infrastructure and public transport links within Kilbarrack. The DART is situated slightly east of the property. Dublin Bus operates a regular service from Kilbarrack towards Dublin city centre and north suburbs.