Convent Building, 24 Main Street, Cavan, Co. Cavan

CONVENT BUILDING - A PRIME MIXED-USE INVESTMENT (Tenants not affected) LOCATION Convent Building presents a unique opportunity to acquire a historic building that forms part of the social fabric within the heart of Cavan town centre. Occupying a high-profile location along Main Street Cavan the location enjoys an unrivalled advantage to both the commercial and residential aspects of the property. This charismatic period property is surrounded by high profile retail and service industry occupiers including, Dunnes Stores, Tescos, PTSB bank, Bank of Ireland, Allied Irish Bank, Boots, Insomnia and HSE Cavan Primary Care Children s Service. THE PROPERTY Convent Building comprises an attached L-plan three-storey over basement building originally constructed c.1860 with a three storey return section added c.1880. The main building along the streetscape displays sandstone walls with red-brick surrounds to the sliding sash window openings and a distinctive Gothic Revival corner tower to the south gable a striking architectural landmark of the buildings former purpose as a convent. The property is arranged to provide at basement level a restaurant / bar accessed off main street via an archway entry to the south boundary, deliveries and kitchen access is via the gated entry under the north archway to the rear courtyard of the building. At ground floor level 3 no. retail units and 1 no. 2 bedroom apartment. To the second and third floors 15 no. apartments; 2 no. 3 beds, 7 no. 2 beds, 6 no. 1 beds. The property is listed on the National Inventory of Architectural Heritage Ref no. 40000265. THE APARTMENTS Within the main building the apartments are accessed from the rear courtyard through a central stairwell. The apartments within the three-storey return are served by both a lift and a central stairwell. THE OPPORTUNITY A prime mixed-use investment (tenants not affected), Convent Building offers an attractive opportunity for investors. With a diverse income of 266,940 p.a. ** the property is let at 100% occupancy with a well balanced tenant mix that supports consistent occupancy and income stability. (**Contracted rent from 01/01/2026 272,940) DEMOGRAPHICS Cavan town is a growing rural town with a population of 11,741 an increase of 7.6% since 2016. Cavan town is the administrative and commercial heart for the County and acts as the central hub for the surrounding rural community. The County has experienced a steady population growth of 7.3% since 2016 driven by continued residential development and strong demand from young families and professionals. An increase in net migration, a modest rise in employment levels and an exodus of private investors from the rental market, have contributed to a rising rental shortage across the County. Cavan s largest age cohort are under 50 years old reflecting a trend towards younger families. Cavan General Hospital, Kyte Powertech, Cavan Institute together with many modern amenities make Cavan a highly attractive place to live and work. Further details - Upon signing of a Non-Disclosure Agreement interested parties will be provided with lease documentation, BER reports and floor plans. INVESTMENT HIGHLIGHTS Mixed use investment in the centre of Cavan town 100% occupancy 3 x retail units 1 x F&B commercial unit 16 apartments (2 no. 3 beds, 8 no. 2 beds, 6 no. 1 beds) High Profile Historic Building with diverse rental income 266,940 (*Contracted rent from 01/01/2026 272,940) 9.31 year WAULT to expiry