Commercial
Property Overview
Overall Floor Area: 150.97m² | 1625f²
Property Views: 251
Prime Investment Property
17 West Street, Drogheda, Co Louth A92 W896.
High profile commercial/residential investment opportunity situated on Drogheda’s main street occupying a high profile trading position.
Ideally located on the Main Street , close to all amenities with retailers such as Penneys , Dunnes Stores,Tesco, Elvery Sports, Hickeys Chemist, EBS, Vodafone and the Town Centre shopping centre close by .
The property 17 West Street has been completely renovated throughout and is in truly excellent condition.
Currently yielding a rent of €78,200 pa. from the shop and 3 overhead apartments.
This offers an excellent long term investment with a great return.
Accommodation :
The property has a ground floor shop/store area of 151m² (1,625 sq.ft )with an additional three overhead floors comprising of 3 self-contained large-1 bedroom apartments. The apartments are bright and fresh and well worth viewing.
Price: €795,000 (Vat may apply )
Viewing is highly recommended and strictly by appointment.
Lease Details
Ground Floor
Let on 15 year lease from 14th July 2021 at €35,000 pa 5 year rent reviews..
Upper floors are currently let at €43,200
Upper Floors: Apartment 1, 2, 3
3 upper floors let to private individuals
Leases: New part 4 leases- no fixed term from 2021 and 2022
Annual Rental Income: €43,200.
Measurements: Retail Unit and Store 151 sq metres
The apartments are bright and fresh
Apartment 1. 58m² kit/living room 1 bedroom ensuite
Apartment 2. 58m² kit/living room 1 bedroom ensuite
Apartment 3. 58m² kit/living room 1 bedroom ensuite
|
Floor |
Type |
Approx Size |
Lease start date, length of term, break option(?); next rent review |
Passing Rent |
|
Ground Floor |
Retail |
151sqm |
Start date 14-07-2021 |
35,000 |
|
1st Floor |
1 bed apt |
58sqm |
Start date 02-July-2022 |
13,800 |
|
2nd Floor |
1 bed apt |
58sqm |
Start date 31-08-2021 |
14,400 |
|
3rd Floor |
1 bed apt |
58sqm |
Start date 22-07-2022 |
15,000 |
Additional Information :
- The Building has full Planning Permission.
- The Building has a full Fire Certificate.
- The financial contributions are paid in full.
- Date of Planning Permission: 02/07/2018
- All residential leases are Part 4 Tenancy Agreements. There is no Fixed Term.
- All such leases are located in a rent pressure zone and can be in increased by 2% per year.
- The building insurance is generally €1,100.00 per year.
- The tenants do not pay any monies towards this expense.
- Retail unit, 15 year lease with review every 5 years
The commercial tenant is a Company