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Investment Property, (Tenants Not Affected), Beechcourt Commercial Developm, Beech Road, Killarney, Co. Kerry

€1,500,000
Retail Unit For Sale | 
  • Overview
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Overview

Property Description:

Investment Summary:
- Superb opportunity to acquire modern retail units in a prime location within the tourist town of Killarney.
- Unit 3 is let under a single lease to GameStop producing a rent of 20,000 per annum. This lease will expire in August 2019.
- Units 4 & 5 are let on a single lease to Ulster Bank producing a rent of 86,500 per annum. This lease is not due to expire until November 2028. Upward only rent reviews.
- Units 9a & 9b are let to Horans Health Store. The combined contracted rent is 35,000 per annum. The combined current rent receivable is 17,125 per annum.
- Current rent receivable of 123,625 plus VAT per annum. Potential to increase rent roll with letting of Unit 9 and asset management opportunities.
- Guide Price of 1.5 Million (Exclusive of VAT) which equates to a Net Initial Yield of approx. 7.60%
- For Sale by Private Treaty in One Lot (Tenant not Affected)
Description
Property comprises of five modern retail units at the junction of New Street and Beech Road extending to a combined floor area of approx. 501.50 Sq. M. (5,398 Sq. Ft.).
Location
Property is in close proximity to Killarney Town Centre situated on the corner of Beech Road and New Street. The development is in an established commercial area in Killarney.

Daft Property Shortcode:

https://www.daft.ie/5958887

Date Entered/Renewed:

19/6/2020 (45 days ago)

Property Views:

257
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Map Legend:

Exact Location Match Exact location match

Address:

Investment Property, (Tenants Not Affected), Beechcourt Commercial Developm, Beech Road
Negotiator Photo

Michael Coghlan

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