The collection of commercial units comprises 14 retail units, 2 office units, 3 kiosks with car parking at lower ground level within the larger Kildare Town Centre mixed use development built circa 2005. The units are arranged over ground, first, and second floors of the development with residential units in separate ownership located overhead. Five of the external units also benefit from lower ground floors that have separate access from the rear service yard of the development. A number of new lettings have been agreed in recent months with three tenancies currently in the process of being formally documented. Tenants in the collection include Kildare County Council (Public Library), the local Post Office, Whelan’s Pharmacy and Specsavers (offices).
- High yielding collection of retail, kiosk and office units within the larger Kildare Town Centre mixed use development built circa 2005.
- 14 x Retail units, 2 x office units, 3 x kiosk units together with car parking at lower ground level.
- Entire extends to approximately 2,358sq.m (25,377 sq.ft) GIA.
- Current passing rent of €213,350 per annum with a WAULT of 6.46 years.
- Stepped rental increases for an additional €10,000 per annum within the next four years.
- Immediate asset management opportunities to increase rental income further in the form of 5 vacant units.
- Tenants not affected
- Offers are sought in excess of €1,550,000 representing a net initial yield of 12.75% after allowing for purchaser’s costs at 8.46%
By special appointment with the sole letting agent, Lisney.
|Unit||Level||Size ft2||Tenant||Contracted Rent||Passing Rent||L.Start||L.Expiry||Break Option||Comments|
|No.1||G.Floor Lower GF||990.28 1,076.39 2,066.67||Private Tenant (Take Away)||€10,000||€10,000||01/03/2017||28/03/2027||N/A||Stepped Rent: Yr 1 €10,000, Yr 2 €12,000, Yrs 3-5 €15,000|
|No.2||G.Floor Lower GF||840.66 699.65 1,540.32||Rachel Kelliher Opticians Limited||€10,000||€10,000||23/10/2017||22/10/2027||N/A||Stepped Rent: Yr 1 €10,000, Yr 2 €12,000, Yrs 3-5 €15,000|
|No.3||G.Floor Lower GF||802.67 699.65 1,502.32||Private Tenant||€12,000||€12,000||01/05/2018||30/04/2028||N/A|
|No.4a||G.Floor Lower GF||812.67 699.65 1,512.33||C&C Star Limited t/a Eurostar||€9,500||€9,500||01/10/2012||30/09/2014||N/A||Tenant continues to overhold at €9,500 per annum. Deposit of €2,000|
|No.4||G.Floor Lower GF||812.57 699.65 1,512.22||Deane Hair Design Limited||€12,000||€12,000||16/12/2003||15/12/2028||N/A||Personal Guarantee from the proprietor.|
|No.5||G.Floor||1,500.00||Buckley Retail Limited t/a Carry Out Off Licence||€17,500||€10,000||19/12/2013||18/12/2038||19/12/2021|
|No.5a||G.Floor||990.28||Private Tenant t/a Café K||€22,000||€8,000||01/10/2006||30/09/2026||N/A|
|No.6||G.Floor||543.58||Private Tenant t/a McLeans Property Agents||€19,600||€10,000||19/12/2003||18/12/2023||N/A||No formal abatement documented.|
|No.7||G.Floor||2,088.20||Irish Health Pharm Limited t/a Whelan's Pharmacy||€100,320||€26,850||16/12/2003||15/12/2028||N/A||No formal abatement documented.|
|No.8||G.Floor||312.15||Private Tenant t/a J&T Barber Shop||€5,000||€5,000||In Legals||N/A||New letting currently in legals.|
|No.9 & 10||G.Floor||4,922.00||Kildare County Council (Public Library)||€80,000||€80,000||01/01/2009||31/12/2043||01/01/2024|
|No.11||G.Floor||1,182.00||Hugo & Cora Ltd t/a An Post||€10,000||€10,000||01/10/2006||30/09/2026||01/08/2022||Rent rebased. New deed of variation signed.|
|1st Flr Offices||1st Flr||1,302.43||Vacant||€0||€0||Vacant|
|2nd Flr Offices||2nd Flr||1,560.77||Specsavers||€10,000||€10,000||19/04/2010||18/04/2020||N/A|
NOTE: The passing rent has a current WAULT of 6.46 years. All interested purchasers are specifically advised to verify tenancy details and floor areas as part of their pre-purchase due diligence.
Viewings / Further Information:
Viewings are strictly by prior appointment only. For further informaiton please contact the joint selling agents Lisney and Conway Auctioneers.
Address: St Stephen's Green House, Earlsfort Terrace, Dublin 2
Telephone: +353-1-638 2700 or you can also email us at firstname.lastname@example.org
Lisney for themselves and the Vendor/Lessor whose Agents they are give notice that:
1. These particulars do not constitute any part of an offer or contract.
2. All statements contained in these particulars as to this property are made without responsibility on the part of the Agents or the Vendor/Lessor and none of the statements contained in these particulars as to this property are to be relied on as statements or representations of fact.
3. The particulars, various plans, photographs, dimensions, references to condition and permissions for use and occupation are given in good faith and are believed to be correct but their accuracy is not guaranteed and any intending Purchasers or Tenants shall satisfy themselves by inspection or otherwise as to correctness of each of them. No omission, accidental error or misdescription shall be ground for a claim for compensation or for the rescission of the contract by either the Vendor/Lessor or the Purchaser/Tenant.
4. Neither the Vendor/Lessor nor Lisney nor any person in their employment has any authority to make or give any representation or warranty whatever in relation to the property. 5. Prices are quoted exclusive of VAT (unless otherwise stated) and all negotiations are conducted on the basis that the Purchaser/Tenant shall be liable for any VAT arising on the transaction. PSRA No. 001848.
Please note we have not tested any apparatus, fixtures, fittings, or services. Interested parties must undertake their own investigation into the working order of these items. All measurements are approximate and photographs provided for guidance only.