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Units 1-7 Garryglass Business Park, Old Ballysimon Road, Ballysimon, Limerick

Sale Agreed

V94CX4C

Units 1-7 Garryglass Business Park, Old Ballysimon Road, Ballysimon, Limerick

Sale Agreed

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Beds
Price	Sale Agreed
Property Type	Investment Property
Size	meters²
Energy Rating	BER-B3
Refreshed on
Eircode	V94CX4C

Description

Rare opportunity to acquire a high profile 1.05 ha (2.59 acre). freehold site. The property provides for a mixture of retail warehousing (showrooms) and warehouse accommodation Extending to approx. 4,347sq.m (46,787 sq.ft) GEA. Large car parking area to the front providing approx. 90 no. car parking spaces with ancillary parking, loading areas and yard space located to the side and rear. The property is currently configured as five distinct commercial units (one vacant). Tenants include The Paneling Centre, Luminaire, Slide Deco, and Blue Box (Antiques). Rental income €179,800 p.a from four tenants, with anticipated rental increases at rent reviews, lease renewals, and by leasing Unit 3. Weighted average unexpired lease term (WAULT) of 4.74. The entire is zoned Retail Warehousing under the 2022-2028 Limerick Development Plan, offering long term redevelopment potential (subject to planning permission).

Features

Entire site is zoned Retail Warehousing in the current Limerick Development Plan Approx 120 metres of frontage onto the Old Ballysimon Road WAULT of 4.74 years inc nearest break options Scope to immediately increase income at upcoming rent reviews, lease renewals and by leasing Unit 3 Asset management opportunities to enhance value BER Rating: B3>E2

BER Details

BER: B3

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Description

Rare opportunity to acquire a high profile 1.05 ha (2.59 acre). freehold site. The property provides for a mixture of retail warehousing (showrooms) and warehouse accommodation Extending to approx. 4,347sq.m (46,787 sq.ft) GEA. Large car parking area to the front providing approx. 90 no. car parking spaces with ancillary parking, loading areas and yard space located to the side and rear. The property is currently configured as five distinct commercial units (one vacant). Tenants include The Paneling Centre, Luminaire, Slide Deco, and Blue Box (Antiques). Rental income €179,800 p.a from four tenants, with anticipated rental increases at rent reviews, lease renewals, and by leasing Unit 3. Weighted average unexpired lease term (WAULT) of 4.74. The entire is zoned Retail Warehousing under the 2022-2028 Limerick Development Plan, offering long term redevelopment potential (subject to planning permission).

Features

Entire site is zoned Retail Warehousing in the current Limerick Development Plan Approx 120 metres of frontage onto the Old Ballysimon Road WAULT of 4.74 years inc nearest break options Scope to immediately increase income at upcoming rent reviews, lease renewals and by leasing Unit 3 Asset management opportunities to enhance value BER Rating: B3>E2

BER Details

BER: B3

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Property Partners de Courcy O'Dwyer

Tel: 061 4...

PSRA Licence No. 002371

Date created: Apr 17, 2023