Grattan House, Grattan Business Park, Portlaoise

Asking Price: €700,000

Property Location

Portlaoise is the largest town in the midlands of Ireland with a population of 22,050 as of the 2016 census. Grattan Business Centre is situated along the Dublin Road, to the east of the Town Centre. The immediate area is home to Midlands Regional Hospital, Midlands Prison, Laois Education Centre and a range of local amenities. Portlaoise is well supported by transport infrastructure with the M7 motorway providing direct access to Dublin and Limerick. Portlaoise Train Station is situated approximately 1km to the west of the subject property.

Property Description

The property comprises a three storey Georgian office building situated in the centre of Grattan Business Park. The building was refurbished in 2006 and provides modern office accommodation with specification including carpeted floors, perimeter trunking and original Georgian features such as ceiling coving. The gross internal area of the building is approximately 1,270 sq. m (13,669 sq. ft) and the lease area is 975 sq. m (10,495 sq. ft). The property benefits from 48 parking spaces.

Property Specification

• Three Storey Period Office Building • Located in an established office development • Extending to approximately 1,270 sq. m (13,669 sq. ft) GIA • Together with 48 car parking spaces • Part occupied by The Commissioner of Public Works in Ireland • Passing rent of €101,750* per annum (one tenant vacating) • Asset Management opportunity • Guide Price €700,000 • NIY 13.4%

Property Size/Area

Extending to approximately 1,270 sq. m (13,669 sq. ft) GIA Lease area of 10,495 sq. ft.

Particulars

Floor

Tenant

Lease Area Sq. m

Lease Terms

Lease Expiry

Rent p.a

Parking Spaces

Upper ground and part first floor

The Commissioner of Public Works in Ireland - Dept of Agriculture

4,364

5 years from 01.07.13

31.06.18

43,650

35

Part second floor; offices 1,2,3,4

Legal Aid Board* Tenant has served notice

2,831

5 years from 01.06.16

31.05.21

27,600*

3

Lower Ground Floor

The Commissioner of Public Works in Ireland- Dept of Education

3,300

10 years from 01.07.16

31.06.26

30,500

10

-

-

10,495

-

-

101,750

48

*Tenant has served notice to vacate

Prospective purchasers are advised to satisfy themselves with regard to the measurements provided

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