+11

55, Grafton Street, Dublin 2

€2,500,000

D02 FK61 685 Sq.ft

55, Grafton Street, Dublin 2

€2,500,000

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Beds
Price	€2,500,000
Property Type	Investment Property
Size	meters²
Energy Rating	BER-G
Refreshed on
Eircode	D02 FK61

Description

The Opportunity Excellent opportunity to acquire a neat commercial investment which is let to one of Ireland’s best known and longest established jewellery brands. Claddagh Jewellers, trading since 1967 are an Irish-owned family business. Uniquely they both design and manufacture jewellery in their own workshop in Galway, where they also have a store on Mainguard Street. The sale will be will be particularly attractive to a private investor seeking a superbly located building on Irelands premier shopping street. Title: We are advised that the property is Freehold and is subject to the following tenancy. The premises is let to Claddagh Jewellers Limited under a 10 year full repairing and insuring lease from the 14th July 2023 incorporating rent reviews at five intervals to open market. The reserved rent is € 150,000 per annum exclusive. The tenant has an option to break from the terms and conditions of the lease at the end of year 5 subject to giving the landlord six months prior notice and the payment of a penalty in the sum of €75,000. Rates: The tenant is responsible for the payment of the local authority rates which are € 26,590.20 VAT: There will be Vat on the purchase price. BER: G Price: We are seeking offers in the region of €2,500,000 which would equate to a net initial yield of 5.46% after deducting the usual purchasers costs.

BER Details

BER: G

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Description

The Opportunity Excellent opportunity to acquire a neat commercial investment which is let to one of Ireland’s best known and longest established jewellery brands. Claddagh Jewellers, trading since 1967 are an Irish-owned family business. Uniquely they both design and manufacture jewellery in their own workshop in Galway, where they also have a store on Mainguard Street. The sale will be will be particularly attractive to a private investor seeking a superbly located building on Irelands premier shopping street. Title: We are advised that the property is Freehold and is subject to the following tenancy. The premises is let to Claddagh Jewellers Limited under a 10 year full repairing and insuring lease from the 14th July 2023 incorporating rent reviews at five intervals to open market. The reserved rent is € 150,000 per annum exclusive. The tenant has an option to break from the terms and conditions of the lease at the end of year 5 subject to giving the landlord six months prior notice and the payment of a penalty in the sum of €75,000. Rates: The tenant is responsible for the payment of the local authority rates which are € 26,590.20 VAT: There will be Vat on the purchase price. BER: G Price: We are seeking offers in the region of €2,500,000 which would equate to a net initial yield of 5.46% after deducting the usual purchasers costs.

BER Details

BER: G

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PSRA Licence No. 001223

Date created: Oct 25, 2023