20 O’Connell Street, Limerick City, Limerick
20 O’Connell Street, Limerick City, Limerick
Price
€595,000
Type
Retail
Status
For Sale
Size
201 sq. m
BER
Description
PRIME CITY CENTRE RETAIL / INVESTMENT OPPORTUNITY - (TENANT NOT AFFECTED) - FOR SALE
Features
- **TENANT NOT AFFECTED**
- SITUATED AT THE JUNCTION OF O’CONNELL STREET AND THOMAS STREET - PRIME RETAIL LOCATION.
- TENANT SITUATED AT GROUND FLOOR AND BASEMENT LEVEL - FIRST, SECOND AND THIRD FLOORS VACANT.
- NEIGHBOURING OCCUPIERS INCLUDE BROWN THOMAS, BANK OF IRELAND, CARL SCARPA, SUPERMACS, O’MAHONYS BOOKSTORE AND CAFÉ NERO.
- RATES
- The rates for the entire building are €8,950.040 per annum and the rates for the ground floor and basement only are €7,066.41 per annum.
- TENANCY
- The ground floor and basement are occupied on a new 10 year lease from January 2025. The passing rent is €35,000 per annum for years 1-4
- And €37,000 per annum for year 5. A rent review at the end of year 5.
Accommodation
End of terrace retail/re-development opportunity. The property has accommodation at basement, ground, first, second and third floors.
The basement and ground floors currently leased as an ice-cream parlour (Gino’s Gelato), and the first, second and third floors are vacant.
There is an independent stairs to the first second and third floors which may facilitate the conversion of these floors to either office or residential use. However, a new entrance door will be required at the Thomas St. side. The property is situated in the Living Cities Initiative
area of Limerick City, which can provide (subject to certain criteria) attractive tax incentives for the conversion of the upper floors to
residential use.
Directions
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