1 & 2 Church Street, Douglas Village, Douglas, Co. Cork
8172 sq. ft.
- Available From: Immediately
- Sale Type: For Sale by Private Treaty
- Overall Floor Area: 8172 sq. ft.
HIGH PROFILE MULTI-LET - TENANTS UNAFFECTED An opportunity to acquire 3 fully occupied commercial units (tenants remaining unaffected) in this high profile location in the heart of Douglas Village. The units have a combined current annual rental income of €174,000 per annum. The well known units are trading as O'Driscolls Bar, Boylesports and The Rose Garden and this modern development extends to an overall floor area of approx. 8,172 sq.ft/ 759.2 sqm. This location provides easy access to the surrounding residential catchment and the South Link Road Network (N40) which provides arterial access to the city centre and to the N25/ M7 corridors. The existing Bar/ Food/ Bookmaker uses are highly desirable and increasingly difficult to secure. The property is offered for sale with the benefit of the existing occupiers remaining unaffected. LOCATION: The subject property is located in the heart of Douglas Village which is a prosperous and highly populated suburb, situated 4km south of Cork city with a significant surrounding hinterland. Douglas adjoins the South Ring Road Network (N40) and is easily accessible to all major arterial routes and is serviced by regular public transport links. Douglas is home to two major shopping centres; Douglas Village Shopping Centre (Tesco, TK Maxx and M&S) and Douglas Court Shopping Centre (Dunnes Stores). The subject property is located in the centre of Douglas Village where neighbouring occupiers include Bank of Ireland, PTSB, KC's Take Away, Barry's Bar & Restaurant, Eco's Restaurant, Paddy Power, La Quila Restaurant together with East Village Bar & Restaurant. DESCRIPTION: Three commercial units for sale on an investment basis with the current occupiers remaining unaffected. The 3 units are comprised within a single block which extends to approximately 8,170 sq.ft over ground and first floor with part basement. While the property enjoys a diverse mix of users and an established rental return, the offering is further enhanced by its unrivalled profile location which occupies an exceptional trading position in the heart of Douglas Village, approximately 4 km south of Cork City centre. This location provides immediate access to the South Link Road Network (N40) which provides arterial access to the city centre and to the N25/ M7 corridors. Adjoining occupiers include Harvey Normans, O'Callaghan Electrical, Keohane Seafoods, Smyths Toys, Woodies, Barry's Tea, Home Store & More, Harry Corry and Musgraves to name but a few. Adjoining occupiers include William O'Brien Storage & Crane Hire, O'Brien Amber Oil & Costcutter, Audi Cork, Topaz, Dunnes Stores and Ryan Car Sales. TENANCY SYNOPSIS: (Further lease details available strictly on request to identified parties) Tenant: Boylesports Limited Lease Term: 20 Year Lease from March 2008 Rent Review: 5 Yearly Reviews Upwards Only Current Income: €95,000 per annum Sq.m: 166 Sq.ft: 1,787 Tenant: Willow Grove Tavern Ltd t/a O' Driscolls Bar Lease Term: No current lease in place. In occupation since c.2007 Rent Review: n/a Current Income: €49,000 per annum Sq.m: 249.2 Sq.ft: 2,682 Tenant: Yi Min Ltd t/a The Rose Garden Lease Term: 10 year lease from October 2016 Rent Review: 5 yearly reviews market rent Current Income: €30,000 per annum Sq.m: 344 Sq.ft: 3,703 Total current income: €174,000 per annum Total area: 759.2 Sq.M / 8,172 Sq.ft SOLICITOR Sandra Egan, Holmes O'Malley Sexton Solicitors, Bishopsgate, Henry Street, Limerick. VIEWING Strictly by prior appointment with Sole Agents; Rob Coughlan Mobile: 086 326 4320 Maurice Cohalan Mobile: 087 255 5790
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Daft ID: 5833336