3 O' Connell Street, City Centre (Limerick), Limerick City

€650,000

Beds
Price	€650,000
Property Type	Investment Property
Size	445 meters²
Energy Rating	BER-G
Refreshed on	Nov 15, 2024
Eircode	V94KD96
Group Name	DNG Cusack Dunne
Sales License Number	002730

Description

Attractive retail investment with potential overhead re-development opportunity. Prime city centre location adjacent to Limericks Opera Square, Cruises Street and opposite Arthurs Quay Shopping Centre (Tenant not affected) Ground floor and basement let to blue chip tenant, Vodafone Ireland Retail Limited, at a passing rent of €55,000 per annum with 5 year unexpired term. Separate access to 1st, 2nd & 3rd floors offering potential redevelopment to 3 or more residential apartments or other uses (s.p.p). May qualify for Derelict Property Grant of up to €70,000. May also qualify for 'Living City Initiative' capital allowances for qualifying expenditure. (subject to T&C's) Occupying a prime city centre location on the main thoroughfare of Limerick City which has recently had a facelift as part of the O Connell Street Revitalisation project which expanded pedestrian facilities and provided dedicated cycling and public transport links. Located opposite Penneys and only a block away from the substantial '¬290m Opera Square mixed use development currently under construction. Also opposite Arthurs Quay Shopping Centre anchored by Tesco with current plans to transform the area around the riverside and create a new quarter in the city. Other nearby businesses include Costa Coffee, Keanes Jewellers, Matthew Stephens Jewellers, Easons, Tony Connolly Menswear, Brown Thomas and Eir.

Accommodation

Four storey over basement mid terraced mixed use building offering basement and ACCOMMODATION: Overall Floor Area: approx. 445 sq. mtrs GROUND FLOOR 105.69 sq. mtrs / 1,137.63 sq.ft Main Retail area Steps leading to Store, Office, Canteen and ancillary accommodation Access to Laneway BASEMENT c. 118.39 sq. mtrs / 1,274 sq.ft: Ladies and gents toilets. Split level basement area 1ST FLOOR c. 121.67 sq.mtrs / 1,310 sq.ft: Split level Open Plan 2ND FLOOR c. 53.28 sq. mtrs / 574 sq.ft: Residential accommodation comprising kitchen, living room and one bedroom. Access to yard area. 3RD FLOOR 460 sq.mtrs / 502 sq.ft: Residential accommodation comprising two bedrooms and bathroom. REAR YARD HEATING: Air conditioning on ground floor WINDOWS: Aluminium d.g windows FLOORS: Concrete floor with timber on top floor TOTAL FLOOR AREA: 445.65 sq. mtrs 4,797 sq.ft Measurements are approximate and for guidance purposes only. TENANCY Ground floor and basement let to Vodafone Ireland Retail LTD at a passing rent of €55,000 per annum with a five year unexpired lease term. Tenant not affected. Further details available on request. 1st, 2nd & 3rd floors are currently derelict and available with vacant possession offering an opportunity to redevelop to apartments or other uses, subject to planning permission. Grants / Tax incentives may be available subject to terms and conditions. For sale with joint agents DNG Cusack Dunne & De Courcy Auctioneers

BER Details

BER: G

Description

Accommodation

BER Details

BER: G