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€3,800,000

Fernhill Plaza, Wexford Road, Arklow, Co. Wicklow

11840 sq. ft.

Investment Property

Property Overview

  • Available From: Immediately

Description

  • Sale Type: For Sale by Private Treaty
  • Overall Floor Area: 11840 sq. ft.
***For Sale via Private Treaty - Tenants Not Affected*** Fernhill Plaza is a mixed use (residential and retail/commercial) development located on the Wexford Road, Arklow. Located some 1 kilometer to the south of Main Street in Arklow town and is bound by the Wexford Road to the west and Yellow Lane to the east. The surrounding area is predominantly characterised by a variety of mainly 2-storey mature residential development but there are also a number of other commercial land uses present. The current combined passing rent is c. €283,600 PA. The local Economy is well supported with a number of chemical manufacturing plants (access to two harbors nearby Roasslare/Dublin Port), service providers with retail and other commercial hospitality employers. The subject proposed sale includes the following units; (a) Unit 2 Fernhill Plaza, lease of retail unit with written lease and an annual rent of €9,600, dated 19th January 2020 for a period of 21 years. (b) Unit 3 Fernhill Plaza, Lease of retail unit with written lease with annual rent of €20,000, dated 28th March 2014 for a term of 20 years. (c) Units 4 & 5 Fernhill Plaza, Written lease to retailer/distributor with written lease at €26,000 PA for a term of 21 years from 19th November 2018. (d) 'Kildare & Wicklow Education and Training Board' - unit leases for 20 years with a passing rent of €204,000 PA from 2010. (e) 2 no. residential apartments c. 1,000 sq.ft/93 sq.m held under Part 4 tenancies (RTB act) with a combined rent of €24,000 PA. Located in the south eastern portion of Wicklow County, Arklow is an ongoing and developing 'semi-rural' Coastal town. Due to its proximity to Dublin South County and Dublin city centre, Arklow is becoming a larger commuter town and now has a population in excess 15,000 persons. The M11 from Dublin to Rosslare bypasses Arklow between junctions 20 and 21, however it is c. 30 mins to Dublin South County by car, which connects to the emerging commercial areas such as Cherrywood and Sandyford. A 16.5 km upgrade to the N11 between Arklow and Rathnew began in April 2014 and was completed in July 2015. This connected the then existing M11 Arklow Bypass with the existing M11 Rathnew/Ashford Bypass creating motorway from Dublin to Gorey. Bus Éireann provides several routes through Arklow, including the 2, 2X, 133 and 133X services. In addition, Wexford Bus operates several services linking Arklow with Dublin Airport. Rail connections to Arklow are provided by Iarnré³d Éireann along the Dublin-Rosslare railway line, including commuter and intercity services in and out of the capital. There is also a train to Dundalk available daily (which travels through Dublin city and along the North County coastline).

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BER Details

B3

Statistics

11/05/2021

Entered/Renewed

783

Property Views

Daft ID: 54589640

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