Merchants Square, Ennis, Co. Clare

Other
For Sale
1,600,000
1,572 sq.m.

Description

Commercial Investment Opportunity

Approx. 1,572 Sq M (16,916 Sq Ft.)

Location:

Ennis and its Environs plays a central, strategic role in the economic development of Clare and in the wider sub-regional area.

The town’s designation as a ‘Hub’ in the National Spatial Strategy 2002-2020 has been a significant factor in formally establishing the important role that Ennis has to play in the development of the Mid West Region.

Within Ennis Town Centre the nucleus of the retail and commercial sphere is situated on O’Connell Street, Parnell Street, Abbey Street, Market Place, Wood Quay and Carmody Street.

The subject property is located in Ennis Town Centre between Lower Market St and Parnell Street.

Surrounding occupiers include Boylesports, Brian Kelly Public House, Manix Menswear, Zest Caf, Empire Movieplex and Rochford’s Pharmacy.

Description:

The subject property comprises of 13 commercial units situated on ground and first floor levels at Merchants Square, Ennis.

The units comprise a mix of retail and office uses.

The units are arranged around an internal courtyard and a number of the units front onto Lower Market Street and Parnell Street.

The units subject to sale vary in size from approx. 27.04 Sq. M (291 Sq. Ft) – 286.51 Sq. M (3,084 Sq. Ft).

Internally all units have been finished to a good level of specification and are well maintained throughout.

Property Features:

– Investment Opportunity comprising 13 Commercial Units at, Merchants Square Ennis.

– Current rent receivable of 169,811 per annum with weighted average unit lease term remaining of approx. 10 years

– Potential to increase rent roll with future lettings of units 2, 7 & 26/27/28/29 and asset management opportunities.

– Guide price of 1.6 Million (Exclusive of VAT) which equates to a Net Initial Yield of approx. 9.79%

– For Sale by Private Treaty in One Lot. (Tenants not Affected)

Title:

The property is held Part Freehold & Part Long Leasehold.

Town Planning:

Planning policy for the area is contained within the Clare County Development Plan 2017-2023. The property is located in an area zoned “Mixed Use”.

Income:

10 of the 13 units are let producing a current rental income of 169,811.

Tenancy Schedule:

See attached brochure

BER Details:

BER B3 – F

Full details available on request

Viewings:

Strictly by appointment with the joint selling agents Cushman & Wakefield & Costelloe Estate Agents

Contact Joint Agents:

Mr. David Costelloe, Costelloe Estate Agents – Tel: 065 6821299

Mr. Noel Moore, Costelloe Estate Agents – Tel: 065 6821299

Mr. George Hanley, Cushman Wakefield – Tel: 061 418 111

Mr. John Buckley, Cushman Wakefield – Tel: 061 418 111

Price:

Offers sought in excess of 1.6 Million (exclusive of VAT)

For Sale by Private Treaty in one lot

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Costelloe Estate Agents

065 682 1299
info@costelloe.com
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