5 Arbourfield Terrace (front), Dundrum Road, Dundrum, Dublin 14, D14HV26

This is an excellent opportunity to acquire a small mixed use investment property that is located along a small terrace of shops on Dundrum Road, close to Windy Arbour LUAS station. Location 5 Arbourfield Terrace is located on a high profile terrace of shops on the Dundrum Road, close to the Dundrum Mental Hospital and the Dundrum Business Park. We understand that the Land Development Agency plan to build another 1,200 homes on the Mental Hospital site. The property is also within a short walking distance from the Windy Arbour LUAS station, which services the green LUAS line. It is also located on a busy arterial road within a few minutes drive from Milltown, UCD and Dundrum Town Centre. Description Number 5 Arbourfield Terrace comprises a 2 storey mid-terrace mixed use building with a ground floor lock up florist shop and a 2 bed apartment overhead Ground Floor Shop 37.25 sq.m. (400 sq.ft.) plus external Steeltech store room 2 bedroom apartment 66 sq.m. (710 sq.ft.) - with full vacant possession for 1 year. Rent can be reviewed to open market value in 1 year. Passing Rent €21,000 p.a. for the shop - the apartment is vacant (€37,000 - €45,000 p.a.) The landlord is currently in the process of seeking a higher rent of €27,000 p.a. for the commercial property for the upcoming rent review. Apartment The apartment has a separate entrance at the front of the premises which leads up to the 2 bedroom apartment on the first floor. The apartment has been refurbished to a reasonably high standard and provides living accommodation at first floor level with a kitchen and second toilet on the ground floor. There is a bathroom and shower room on the first floor as well as 2 large bedrooms and a living room. The apartment also has shared access to an enclosed garden at the rear of the premises. The apartment is serviced by gas-fired central heating. Retail Premises The ground floor retail premises has been rented out to Dundrum Blooms Florists under a 10 year Lease from 1 October 2019 for a rent of €21,000 per annum. There is an upcoming rent review and a mutual break option on 30 September 2024. The premises comprises a 25 sq.m. shop with ancillary kitchen and storage space to the rear. There is ample customer car parking in front of the premises. The 2 bed apartment is now vacant and may suit an owner occupier or investor that may look to accommodate a family member in the apartment. The previous rent was only €1,350 p.a. and was under rented as to open market rental value should be approx > €2,000 p.a. Both tenants have signed a Deed Of Renunciation Copies of the current Leases are available upon application. Tenure We are informed that the property is held freehold. Building Insurance €860.61 per annum. Local Authority Rates We understand that the local authority rates are approximately €3,115.42 per annum. VAT We understand that VAT is not applicable on the sale of this property however all intending purchasers are advised to seek advices on taxation purposes