71 O’Connell Street, Ennis, Co. Clare

Other
For Sale
585,000
436 sq.m.

Description

HIGH PROFILE PRIME RETAIL LOCATION

** INVESTMENT/DEVELOPMENT OPPORTUNITY **

Location

71 O’Connell Street occupies one of the most prominent trading positions within Ennis Town Centre.

It is located at O’Connell Street’s junction with Station Road and opposite both St. Peter and Paul Pro Cathedral and The Old Ground Hotel.

This prime location is further exemplified by the quality of trading concerns within close proximity including Nozomi, Collins Jewellers, Pat McCarthy Shoes, Irish Permanent TSB, Seoidin, Dunnes Stores, Boots etc.

Seldom does a property in this location becomes available.

Description

71 O’Connell Street comprises a corner mainly 3 storey building. It has a street frontage to O’Connell Street of 16m and a return frontage of 28m to Westby’s Lane.

Internally, it is laid out to provide to the ground floor”retail units with a mixture of offices and residential units overhead.

The property offers enormous scope for refurbishment of existing units or complete redevelopment.

Accommodation

The following is the accommodation and approximate internal floor areas:
Sq mtrs Sq ft
Ground Floor
Retail Unit No. 1 87.70 944
Retail Unit No. 2 (incl store) 48.20 519
Office Suite (2 rooms) 36.60 394

First Floor
2 Bedroom Apartment 69.30 746
Office Suite (3 rooms with canteen & toilet 75.47 812

Second Floor
1 Bedroom Apartment 27.25 293
1 Bedroom Apartment 31.10 334
1 Bedsit (with separate kitchen) 26.60 286
Office Suite (2 rooms) 33.43 360

Planning Permission

Full Planning Permission (09-21097) was granted on 12/01/11 for redevelopment of the property an extension was granted (P15-261) extending the period to 11/01/2021. The proposed development, which incorporated a further small rear building , provided for ground floor retail of 428.50 sq mtrs (4,611 sq ft) within the current building with two floors of residential units overhead and a basement car park.

Tenancy Schedule

Unit Tenant Tenancy Rent

Retail Unit No. 1 Hair Salon Ending 02/08/18 25,000

Retail Unit No. 2 Vacant N/A N/A

Residential Unit No. 1 Individual 12 monthly 6,384

Office No. 2 Vacant N/A N/A

Residential Unit No. 2 Individual 12 monthly 3,600

Residential Unit No. 3 Individual 12 monthly 4,200

Residential Unit No. 4 Individual 12 monthly 3,600

Office No. 3 Vacant N/A N/A

Total Current Income 42,784

Key Features

* Leading retail location
* High profile position
* Incredible scope to increase existing rent roll through property management
* Enormous redevelopment potential to provide large retail outlet, with significant demand for same in the market.
* Overall potential to provide a multi let prime high yielding investment

Title

Freehold

Viewing

Strictly by appointment with sole selling agents

Asking Price

650,000 (plus Vat, if applicable)

Viewed 90 times

Building Energy Rating

BER RATING
BER No. 800588667
EPI 751.65 kWh/m2/yr



Costelloe Estate Agents

065 682 1299
info@costelloe.com
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