20 Henry Street, City Centre (Limerick), Limerick City

€590,000

Beds
Price	€590,000
Property Type	Investment Property
Size	331.85 meters²
Energy Rating	BER-D1
Refreshed on	Nov 15, 2024
Eircode	V94CD82
Group Name	DNG Cusack Dunne
Sales License Number	002730

Description

- Attractive retail / office investment For Sale (Tenants not affected) - Building extends to approx. 332 sq.m (3,572 sq.ft) - High profile location fronting Henry Street - Ground floor and basement retail. Currently let at €12,000 p.a - First & second floor offices. Currently let at €15,000 p.a - Scope for possible rental uplift

Accommodation

No. 20 occupies a prime pitch on Henry Street close to its junction with Lower Mallow Street and adjacent to Theatre Lane. The surrounding occupiers include Petit Paris Cafe, Gleeson's Spar and Henry Street Garda Station. The Department of Foreign Aid is located nearby in a multi-storey office development. The subject property comprises an attractive three storey over basement building extending to a total gross internal area of approx 332 sq. m. (3,572 sq. ft.). The building is of conventional concrete block construction with painted plastered exterior with extensive glazing feature. The property is fully fitted throughout to a high specification. The ground floor comprises a retail area with ancillary storage located at basement level. Access is available from Henry Street and Theatre Lane. The 1st and 2nd floors comprise office accommodation and has separate own door access from Henry Street. Accommodation: The accommodation provides the following approximate areas: Floor Description NIA Sq.m NIA Sq.ft GIA Sq.m GIA Sq.ft Basement Retail 58.75 632.39 72.47 780.07 Ground Retail 77.15 830.44 92.75 998.36 First Office 56.87 612.15 91.01 979.63 Second Office 64.37 692.88 75.66 814.40 Total 257.14 2,767.85 331.89 3,572.46 Note: Measurements are approximate only. Tenancies The ground floor & basement were originally let to Link Brazil on a 2 year IRI lease from 2018 at €12,000 per annum. They are currently leasing on a monthly basis. The first and second floors are let to Argrosea on a 5 year IRI lease from 2017 at a passing rent of €15,000 per annum. The lease provides for a rolling tenants break option every 2 years. There is also a provision for a rent review which may provide scope to increase the rent. Asking Price: €590,000 (plus VAT if applicable). Viewing: Strictly by appointment with Mark Cusack Tel 061 209000.

BER Details

BER: D1

Description

Accommodation

BER Details

BER: D1