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For Sale
Investment, County Dublin

St Fintans
North Street
County Dublin
Republic Of Ireland

Reference 2036200

Type Investment

Tenure Freehold

Size16,469 sq ft (1,530 sq m)

Freehold: £2,321,358

Contact LSH Surveyor

Nigel Kingston
Director - Agency

+353 1 673 1419

Description

•Superb opportunity to acquire a high profile modern commercial investment
Comprising an interesting mix of shop units and overhead offices
Strong tenants with good covenants
Excellent asset management opportunity
Currently producing €227,300 per annum with immediate reversionary potential
Excellent frontage to busy Main Road with ample on-site parking
Excellent infrastructure links

St. Fintans is located at the junction of North Street and Balhealy Road in Swords. Adjoining occupiers include Enterprise Rent-A-Car, Arces Cosulich Ireland Ltd. and Rocks Funeral Home. Swords Main Street is located approximately 600m to the south of the property and Junction 4 of the M1 is situated approximately 1.7 km to the North. The surrounding area is predominantly residential in character. North Main Street is lined with a mix of commercial and residential users. Swords is a suburb 13 km North of Dublin City Centre. Malahide borders to the East and the Airport is located to the South.
Occupiers within the development include Gourmet Food Parlour, Paddy Power, HSE, CPL and Connect Offices

The property was constructed in 2007 and comprises a part three storey and four storey mixed use development. There are currently three retail units on the ground floor occupied by Paddy Power, the Gourmet Food Parlour, and the final one is vacant.

The first floor consists of c974 sq.m. of office accommodation and is currently split into five separate units and are let to the HSE, The Gourmet Food Market Ltd., Connect Serviced Offices Ltd., Flexsource Solutions Ltd. The remaining office unit is Vacant and is in shell condition.
Overhead are 26 apartments and are in separate ownership.

The 44 secure car spaces are accessed via an electric gate on Balheary Road.

The sale of this property represents an excellent opportunity to acquire an interesting asset with a strong rental payment history. This is a well maintained development and there is an opportunity to further increase the rental income by letting the vacant shop and therefore give the new owner an opportunity to set a new benchmark rent level within the scheme.

There is a service charge levied from the tenants which covers the cost of landscaping, refuse collection and lighting in the car park and common hallways / lifts

The property is zoned MC under the Fingal development plan 2017 to 2023 "to protect and / or improve major town centre facilities"

Unit 6 ( vacant ) has the benefit of a planning permission to change the use from retail to take restaurant reg ref F14A/0464.

BER details: BER numbers for all units are available on request

Price: We are seeking offers in excess of €2,600,000 which based on the current income represents an initial yield of 8.15 %

VAT: The purchaser will be liable for any VAT arising out of the transaction.

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