92 & 92a Drumcondra Road Upper, Drumcondra, Dublin 9

€650,000

Beds
Price	€650,000
Property Type	Investment Property
Size	139 meters²
Energy Rating	BER-G
Refreshed on
Eircode	D09W8R2
Group Name	Robert Colleran
Sales License Number	003936002035

Description

AN EXCELLENT OPPORTUNITY TO ACQUIRE A HIGH PROFILE MIXED-USE INVESTMENT PROPERTY WITH FULL PLANNING PERMISSION FOR A TWO-STOREY TWO-BEDROOM TOWN HOUSE AT THE REAR OF THE PROPERTY, ON CLONTURK AVENUE A Unique Opportunity This is a once in a lifetime opportunity to purchase these high profile properties. The main building, number 92 (D09 W8R2) comprises a vacant ground floor, corner, retail unit with prime exposure on the very busy Drumcondra Road. Behind that is a vacant two-roomed unit leading onto a secure light filled yard. On the first floor is a three roomed office currently let on a two year lease. Number 92A (D09 PP21) is a vacant, single story, self contained, red brick unit to the rear of the main building. Full Planning The properties would suit an investor, owner occupier, or developer, and come with the benefit of Full Planning Permission (Dublin City Council reference 1292/19) for the development of a two bed Town House. Description Nos. 92 and 92A Drumcondra Road Upper occupies a high profile position on the corner of Clonturk Avenue and the existing building has a depth of approx. 25 meters. The ground floor lock up shop has a central entrance with double front windows of approx five meters facing onto Drumcondra Road. The large side window faces the oncoming pedestrian and vehicular traffic from the city. The subject property overlooks the main signage and pedestrian entrance to the DCU campus. This ground floor shop is just over 37.2 sq.m. (400 sq.ft.) in size and and subject to P.P. may suit myriad uses including a café, deli, local convenience retail use or a professional service company e.g. accountants, solicitor, mortgage brokers. It most recently traded as a ladies fashion boutique and the current fit out includes tiled flooring, fitted shelving, three raised window displays, service counter, mirrors, spot lights, suspended light fittings and roller shutters. Planning There is full planning permission for a two-storey two bedroom Town House at the rear of the property with an entrance from Clonturk Avenue. This new development would replace the single story, rear office building and part of the courtyard and main building. There could be potential to amend this planning permission and extend the height of the Town House to three floors S.P.P. There should be plenty of demand from students or young to rent a new A-rated Town House in this location given it's excellent public transport network and short commute distance from the city centre. COMMERCIAL RATES The commercial Rates for 2021 were €7,260.54. BUILDING INSURANCE The building insurance for 2021 was €4,189.50 p.a. However, we expect this to be reduced when the property is fully occupied. SERVICES We understand that all mains services are available to the property. However, interested parties are required to satisfy themselves as to the adequacy of all services.

Accommodation

Substantial Accommodation The main property at 92 Upper Drumcondra Road. (D09 W8R2) is currently in three units. Ground floor vacant lock-up retail unit approx 37.2 sq.m. (400 sq.ft.). A first floor, three roomed office approx 43.3 sq.m., (466 sq.ft). currently occupied by the same tenant for nearly 40 years and is presently on a short lease which expires at end February 2023. Full lease details available on request. The vacant ground floor two room unit, approx 24.1 sq.m. (259 sq.ft.) leads onto a bright, secure, south facing courtyard. All three units share a WC located on the first floor. Number 92A (D09 PP21) is a vacant, self contained, single storey red brick unit to the rear of the main building approx 26.2 sq.m. (282 sq.ft.). The whole property has been well maintained and is currently in reasonably good decorative order. As it stands, the estimated rental value after rent review will stand at approximately €45,000.

Features

Summary Full Planning Permission for Town House development (DCC ref: 1292/19) Wonderful investment and development opportunity with immediate rental income Located on busy suburban thoroughfare Overall floor area 139sq.m. (1,496 sq.ft.) Retail unit suitable for a variety of uses S.P.P. Prime corner site location, exceptionally well located Retail unit benefits from internal/external roller shutters High volumes of passing pedestrian and vehicular traffic Directly opposite main student entrance to St Patricks College of Education Unique chance to acquire a valuable property in the heart of Upper Drumcondra Excellent transport connectivity Nos.92 and 92a Upper Drumcondra Road have been owned by the same family for more than 80 years.

BER Details

BER: G BER No.800823239 Energy Performance Indicator:460 kWh/m²/yr

Directions

Location Location Location The properties occupy a prominent location on the east side of Upper Drumcondra Road and are surrounded by thriving shops and businesses. A number of Ireland's most prestigious educational institutions are within walking distance. The Mater Dei Centre, All Hallows Campus, and St Patrick's College of Education is directly opposite. All three are associated with the nearby Dublin City University. This sought after location enjoys a very busy footfall and is at the heart of a large, well established, densely populated, residential neighbourhood. We understand that DCU has grown in size since 1980 to just under 17,000 students and around 1,800 staff at their Drumcondra and Collins Avenue campuses. These growing numbers have helped create strong activity and steady spin-off business for the local cafes, shops, bars and residential rental in the surrounding area. Some of the other local businesses include FLYEfit Gym, Lidl, Tesco, Spar, The Ivy House Restaurant and Bar, The Cat and Cage, Skylon Hotel, Il Corvo Italian Restaurant and Domino's Pizza to name just a few. Nos. 92 and 92a are conveniently located less than 3 kilometers from Dublin city centre and O'Connell Street Upper via an excellent public transport network. Drumcondra Road is one of the busiest routes into Dublin City and 92 and 92A are conveniently located less than 3 kilometers from the city centre. There are bicycle lanes and Quality Bus Corridors (QBC) passing the door and the bus stop, only meters from the properties, provides more than ten bus routes that link Drumcondra with many parts of Dublin city and suburbs. The properties are also only a short walking distance from Drumcondra Train Station, which serves the Maynooth train line and west Dublin suburbs. The location is close to Tolka Park, Croke Park, public parks and the National Botanic Gardens. Close by are Spencer Dock, the Irish Financial Services Centre, East Point Business Park, Temple Street Children's Hospital, Beaumont and The Mater Hospitals, DCU and Trinity Universities. Conveniently close are the M1 and M50 motorways, Dublin Port and Docks and Dublin Airport. The property is also a short walking distance of one kilometer to the Drumcondra Train Station, which serves the Maynooth train line and west Dublin suburbs, to Spencer Dock in the IFSC.

Description

Accommodation

Features

BER Details

BER: G BER No.800823239 Energy Performance Indicator:460 kWh/m²/yr

Directions