Unit 1 Castletroy Park Complex, Bank of Ireland, Castletroy, Limerick

Sale Agreed

Beds
Price	Sale Agreed
Property Type	Investment Property
Size	375 meters²
Energy Rating	BER-C3
Refreshed on
Eircode	V94E727

Description

Exceptional Investment Opportunity in a Prime Location with a Top Quality Covenant This busy branch comprises a modern end of terrace single storey unit. Construction is of concrete walls with a stone clad front, double glazed front façade and double-glazed windows. It is almost rectangular in shape and fronts a paved footpath. Parking is by surface to the front and an underground car park to the rear.

Features

The following is the accommodation and net internal floor area:- Front Retail & Rear Staff/Stores Sq m Sq ft 375 4,037

BER Details

BER:- C3 BER No:- 800859316 Energy Performance Indicator:- 89.54 kgCO2 /m2/yr 1.46

Directions

Limerick is Ireland’s third largest city with a population of over 100,000. Castletroy is a prime and progressive suburb of Limerick City. Castletroy is considered the larges suburb neighbour in Munster with a population of over 40,000. Castletroy Park Complex is perfectly position, almost opposite the entrance gate to University of Limerick and adjoining Castletroy Park Hotel, just three kms east of Limerick City Centre. The complex features a quality neighbour centre with trading concerns including Spar Supermarket, Relish Café, Castletroy Park Pharmacy, Regus Shard Office, Coillte etc. Bank of Ireland occupies a prominent corner position overlooking Plassey Park Road.

Central

Castletroy popularity is founded on a number of key features including: • National Technology Park (385 acres) of parkland, with over 80 companies including Johnson & Johnson, Northern Trust, Edward Life Science, and more. • University of Limerick and Sports Arena with 18,000 students. • Castletroy Golf Course. • Carlton Castletroy Hotel. • Four primary schools, two secondary schools. • Excellent connectivity to M7 motorway.

Tenancy

The entire is leased to The Governor & Company of the Bank of Ireland a full repairing and insuring 25 year lease from 3rd December 2007. Rent reviews are every 5 years to increase by 15%on the passing rent. The current and annual rent is €217,022. Rent is to increase as follows: 2023~€249,575. 2028~€287,011.

Title

Assumed long leasehold.

Investment Summary

* High Yielding Investment * Quality Covenant * Over 10 Years Unexpired * Fixed Rental Growth * Exceptional Location * Modern Building

Joint Agents

Costelloe Estate Agents 5 Abbey Street Ennis Co. Clare Tel. +353 65 6821 299 Email: info@costelloe.com Website: www.costelloe.com PSR Licence 002313 Turley Property Advisors 89 Harcourt Street Dublin 2 Ireland Tel. +353 1 4791 500 Fax. +353 1 4791 501 Website: www.turley.ie PSR Licence 002187-006440 Michael Turley Email: michael@turley.ie Tel: 086 257 2730 Nick O’Loughlin Email: nick@turley.ie Tel: 087 986 7200

Guide Price

€2,850,000 which reflects a yield of 7.96% from 2023 and a reversionary yield (2028) of 9.16%.

Description

Features

The following is the accommodation and net internal floor area:- Front Retail & Rear Staff/Stores Sq m Sq ft 375 4,037

BER Details

BER:- C3 BER No:- 800859316 Energy Performance Indicator:- 89.54 kgCO2 /m2/yr 1.46

Directions

Central

Tenancy

Title