Commercial

17 West Street - Prime Investment Property, Drogheda, Louth, A92W896
Commercial | Retail | BER Rating

Property Overview

Sale Agreed

Overall Floor Area: 325m² | 3498f²
Property Views: 353

                  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.

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