21 Michael Street, Waterford, Waterford City Centre, X91EF6D

(Tenants Not Affected) Purcell Properties are delighted to offer to the market a superb opportunity to purchase two adjoining commercial properties incorporating two ground floor retail units with scope to convert the vacant upper floors into three residential units. Unit 21 is currently generating a rent of €18,000 per annum and Unit 22 is also generating a rent of €18,000 per annum. Located on Michael Street in the heart of Waterford City the two inter-connected buildings have the capacity to create 2 x 1-bed apartments and 1 x 2-bed apartment on the upper floors. The ground floor retail units are currently rented and the buildings will be sold with tenants in occupation. 21 Michael Street is currently leased to O'Reilly's Hair and Beauty Supplies on a 2-year lease from 1st January 2025. 22 Michael Street is currently leased to Phone and Vape on a 4-year 9-month lease from 1st October 2023. The subject property is conveniently located less that 300m from John Roberts Square, less than 250m to City Square Shopping Centre and less than 400m to the Quay. Close to some popular retail premises including Dunnes Stores, Penneys, The Book Centre, Pandora, Lifestyle Sports and Guineys. GROUND FLOOR ACCOMMODATION 21 Michael Street Retail Unit comprising circa 840 ft² Entrance Hallway To Upper Floors 22 Michael Street Retail Unit comprising circa 415 ft² POTENTIAL FIRST FLOOR ACCOMMODATION See attached draft plans for the upper floors. Apartment 1 2-bed comprising circa 590 ft² Apartment 2 1-bed comprising circa 670 ft² POTENTIAL SECOND AND THIRD FLOOR ACCOMMODATION Apartment 3 2-bed comprising circa 820 ft² POTENTIAL RENTAL INCOMES First Floor Two-bed - Apartment No. 1 - €1,500 pcm One-bed - Apartment No. 2 - €1,200 pcm Second Floor - Two-bed - Apartment No. 3 - €1,500 pcm MAIN FEATURES Excellent city centre location Renovation project Potential combined annual rent in the region of €68,000 per annum