The subject property is well located on Abbey Street, Portumna. Portumna is a strong market town situated South East of County Galway. Portumna is situated in a strategic location close to the Tipperary border and on the shores of Lough Derg and the River Shannon. It is a very popular coarse fishing town.
Abbey Street runs parallel with the Main Street (N65). Neighbouring occupiers include a mix of residential and commercial users which include Portumna Garda Station.
Portumna is well serviced by Banks / Building Societies, Schools, Supermarkets and Licenced Premises.
The subject property comprises of a two storey end of terrace. This period and listed building with attractive limestone faÃ§ade extends to 537.5 sq. m. (5,786 sq. ft.). It was completely refurbished in recent years to an exceptionally high standard. Originally there were two detached buildings which were tastefully amalgamated with the addition of a modern glazed connecting corridor. The upper flooors are serviced by a passenger lift and the property is certified for both fire and disability access. Its modern specification includes good quality flooring, oak staircases with concrete stairwells, CAT 5 lighting, an alarm system and CCTV.
Heating throughout is by means of electric heating.
Externally there is a paved yard and secure side access gate. The property is enclosed to the side and rear by high painted and plastered block walls.
The entire property is let to the Galway VEC. It is laid out to include a large reception hall, a number of classrooms, workshops, ancillary office space, a large ktchen, canteen and appropriate ladies, gents toilet facilities.
35 year lease to the Galway VEC (Tenant) from 1st January 2009. 5 yearly rent reviews to market value. Tenant break option on expiration of the 15th year of the term upon 12 months written notice.
This investmnet property is currently producing a rent of €100,000 per annum.
Fully Let Investment producing a rent roll ...