1 and 3 Rockville Road, Newtownpark Avenue, Blackrock

Asking Price: €1,900,000

Property Location

Blackrock is a densely populated residential suburb on the south side of Dublin City. The subject property is conveniently located at the junction of Newtownpark Avenue and Rockville Road. Amenities in the area include The Frascati and Blackrock Shopping Centres, Blackrock College, Blackrock Further Education Institute and a range of bars and restaurants. More locally, amenities adjacent to the subject property include Newpark Comprehensive School and Newpark Sports Centre. Blackrock is well served by transport links with Seapoint Dart Station situated approximately 1.3km to the north. The area is also served by numerous Dublin Bus routes which provide access to Dublin City Centre and the surrounding suburbs.

Property Description

The property comprises a predominantly two storey mixed use building with dual frontage along Newtownpark Avenue and Rockville Road. The building extends to approximately in total and is arranged to provide a ground floor retail unit with residential accommodation on the first and part second floor. The ground floor is trading as Spar and benefits from the tenant’s branded fit-out, to include delicatessen, off licence and ATM. The general specification includes suspended ceilings, tiled floors and fluorescent lighting. The retail accommodation extends to approximately 295 sq.m. (3,175 sq.ft.). The first and second floors are arranged to provide a 12-bedroom apartment. Accommodation includes 12 bedrooms (1x en-suite), 2 x kitchen/living rooms and 3 x bathrooms. The accommodation benefits from a first-floor terrace and rear fire escape. The residential accommodation extends to approximately 250 sq.m. (2,691 sq.ft.)

Property Specification

• Suburban mixed-use investment • Providing retail and residential accommodation • Ground floor retail unit let to Triode Newhill LHP Limited t/a Spar • Guarantee from BWG Foods Ltd • 12-bedroom apartment let to a single corporate tenant (Keywords International Limited) • Total floor area extending to approximately 545 sq. m (5,866 sq. ft) • Total income of €145,000 per annum • Guide Price €1,900,000 • Net Initial Yield 7.21% • Tenants not affected

Lease Terms

The ground floor is let to Triode Newhill LHP Limited on a 25-year lease from 13th November 2015, at a rent of €70,000 per annum. The lease benefits from a Guarantee from BWG Foods Ltd. The lease provides for 5 yearly rent reviews and a break option in year 10. The first and second floors are subject to a 12-month letting agreement from 29th August 2018 with Keywords International Limited at a rent of €75,000 per annum.

Title

Freehold

VAT

VAT is applicable on the commercial portion of the sale. VAT will take the form of Transfer of Business.

BER Rating

B3_D2_BER_RGB_Web_and_PC.png

BER Number

Available upon request

Energy Performance Indicator

273.67 kWh/m2/ yr 0 - 645.83 kWh/m2/ yr 0.97

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