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Choice

Dublin Road, Clane, Co. Dublin

Sold €2,600,000
Property Highlights
  • Modern retail warehouse investment
  • Approximately 1.61 acre site
  • 67 surface car parking spaces
  • Floor area approximately 25,244 sq.ft [2,345 sq.m]
  • Let to Multi-Home Retail Limited T/A Choice
  • Lease expiry 30th April 2041. Tenant break option in April 2031
  • Passing rent of €200,000 per annum
  • Guide Price €2.6m
  • NIY 7% [after standard purchasers' costs of 9.96%]
  • Attractive capital value of approxinately €103 per sq.ft
Property Location

The subject property is located in Clane, Co. Kildare, approximately 35km from Dublin. Clane is considered a commuter town for Dublin, with Sallins railway station approximately 6km from Clane. According to the CSO, in 2016 Clane had a population of 7,280. This is expected to increase in the 2022 Census due to an increase of houses being built in the area.

The subject property is set back from the main road and is situated opposite Tesco, a short walk from Clane Main Street. The immediate area is an established, built-up residential catchment with 2 detached residential dwellings situated at either side of the subject site’s front boundary. Tesco Metro operate a grocery store approx. 200m from the subject property.

Clane has been enhanced in recent years with a host of new amenities including retail outlets, bars & restaurants (including the 4-star Westgrove Hotel & Conference Centre), improved educational facilities and healthcare services.

Clane enjoys proximity to Dublin city which can be accessed by bus, car [via the M4 or M7 motorways] or rail [Arrow rail link at nearby Sallins or intercity services from Maynooth]. There are also frequent bus services to the larger towns of Blanchardstown, Celbridge, Naas and Maynooth nearby.

Property Description

Overall Property Specification
• Open plan retail warehouse
• Steel portal frame construction
• Concrete block walls
• Double skin insulated metal deck roof incorporating translucent panels
• Concrete ground floor
• Fire detection system
• A/C cassettes (heating & cooling)
• CCTV
• Male & Female W/C on ground and first floor.

Retail Area Specification
• Mix of high bay lighting and recessed LED lighting
• Mix of suspended and full height ceilings
• Vinyl flooring
• 13-person lift (1,000 kg capacity)
• Access enabled toilet on ground floor.

Warehouse / Loading Area Specification
• Concrete floor
• High bay lighting
• Racking
• 2 roller shutter doors
• Enclosed yard.

Lease Terms

The entire property is let to Multi-Home Retail Limited T/A Choice under a 20-year FRI lease from 1st May 2021. The passing rent is €200,000 per annum.

There is a tenant only break-option in year-10 subject to six months’ notice. Open market rent reviews are applicable in years 6,11 and 16 of the term (2027, 2032 & 2037).

Multi-Home Retail Limited have a Vision Net rating of 90/100 and are considered low trade risk.

Multi-Home Retail Limited operate “Choice” which is an Irish family owned business that has been trading successfully in Ireland for over 45 years and currently operate 11 stores in total throughout Ireland.

Property Size/Area
25,244 sq.ft
Property Status
Sold
BER Details
Ber Number - 800629370
Ber Energy Performance Indicator - 455.51kWh/m2/yr. 0.84
Property Location
Documents
QRE Contact
Bryan Garry
Bryan Garry
MRICS MSCSI  

Director Investment

Bryan has over 13 years of experience in the Irish commercial property market. As Director of the In... View More

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