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


Price
€2,850,000

Type
Commercial

Status
For Sale

BER
BER
C3

Brochure
View Now

Area
375 sq.m.

EPI
89.54 kWh/m2/yr

Description

Exceptional Investment Opportunity in a Prime Location with a Top Quality Covenant

Location

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 Caf, 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.

Description

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 faade 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.

Accommodation

The following is the accommodation and net internal floor area:-

Front Retail & Rear Staff/Stores Sq m Sq ft

375 4,037

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.

BER Details

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

Joint Agents

Costelloe Estate Agents
5 Abbey Street
Ennis
Co. Clare

Tel. +353 65 6821 299
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
Tel: 086 257 2730

Nick O'Loughlin
Tel: 087 986 7200

Investment Summary

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

Guide Price

2,850,000 which reflects a net initial yield (costs 9.96%) of 7.96%.

The reversionary yield (2023) will be 9.66%.

Contact Us

We're not around right now. But you can send us an email and we'll get back to you, asap.

Not readable? Change text.