Leasehold Interest for sale as a "Going Concern".
The property comprises of a leasehold interest of a ground floor café and first floor kitchen located within the former Mungret College complex.
EXCELLENT OPPORTUNITY TO ACQUIRE AN EXISTING BUSINESS - LEASEHOLD INTEREST.
STRONG TURNOVER ESTABLISHED
EXCELLENT LOCATION CLOSE TO ALL AMENITIES
BER: Exempt
The property comprises of a leasehold interest of a ground floor café and first floor kitchen located within the former Mungret College complex. There is a 10 year lease in place from 2019 (expiring 2029). The current passing rent is €20,800 per annum. The property comprises of an approx. 65/70 seater restaurant with ancillary kitchen equipment, preparation equipment and servicing equipment.
LEASE
The property is held on a 10 years lease from the 1st September 2022 at a current rent of €20,800 per annum.
(rent review 3.00% increase per year in the rent).
RATES
€858.00 per annum.
TUPE
As with the sale of any business, there will be a transfer of undertaking / staff under TUPE.
The property is situated in the former Mungret College complex. Mungret College is part of the Dooradoyle / Raheen suburb and has numerous plans for hundreds of residential units to be built on its doorstep. The entire Mungret College building and lands was recently acquired by Limerick 2030 and has a capacity for 850 residential units - planning has been achieved for 252 units. Work has also commenced on the new building for Mungret Community College and the public park has also been developed in the area.
These Particulars and Terms are issued by Rooney Auctioneers (Limerick) Limited on the agreed understanding that all negotiations in respect of the property mentioned, are and will be conducted through them. Whilst every care has been taken in preparing these Particulars and Terms of the said property, Rooney Auctioneers (Limerick) Limited do not warrant these Particulars and Terms or any representations made by them about the property and all intending purchasers/lessees should satisfy themselves as to the correctness and/or accuracy of the information given.
Rooney Auctioneers (Limerick) Limited shall further not be liable for any loss or expenses, which may be incurred in visiting the property, should it prove unsuitable or to have been let, sold or withdrawn.
