77/78 Tullow Street, Tullow, Co. Carlow

Sale Type: For Sale by Public Auction, Auction Date & Time: Fri, May 10 at 8:00 AM, Auction Location: Online - bidx1.com/en/97029 A retail investment arranged over ground and first floor.  Extending to approximately 74.32 sq. m (800 sq.ft) Situated within a wider commercial development. Let to Power Leisure Bookmakers Limited guaranteed by Paddy Power PLC.  Lease expiry 2028. Current rent reserved €63,000 per annum. Net Initial Yield 13.8% NIY  The property is arranged over ground and first floor to provide a bookmakers shop, comprising a betting floor and counter to the front, with staff facilities to the rear and ancillary accommodation overhead. The property is situated between two public houses on the southern side of Tullow Street close to the junction with Barrack Street. Surrounding occupiers include Racey Byrnes Bar, Eddie Rockets and Teach Dolmain Pub.  Total floor area extending to approximately 74.32 sq. m (800 sq.ft). All intending purchasers are advised to satisfy themselves as to the accuracy of the measurements provided. The entire property is at present let to Power Leisure Bookmakers Limited guaranteed by Paddy Power PLC.  for a term of 20 years from 12/08/2008  at a contractual rent of €63,000 per annum, exclusive of rates and VAT. The lease provides for upward only rent reviews every fifth year and contains full repairing and insuring covenants. Ref: IE0010524000351