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Park Lodge

Old Dublin Road, Limerick

For Sale
Guide Price: €1,200,000
Property Highlights
Excellent location with dual frontage onto the Old Dublin Road & Rhebogue Road
Situated within proximity to The University of Limerick, 2.7km and Limerick City Centre, 2.8km
Zoned ‘Local Centres’ in the Limerick City & County Development Plan 2010-2016 As Extended
The Parkway Retail Park & The Parkway Shopping Centre, TK Maxx, Costa Coffee, Jysk, Smyths Toys and Dunnes Stores are adjacent to the development.
Tenants include; O’Sullivan’s Pharmacy, Polonez, Colorworx and Park Childcare
Passing rental income of €143,000 per annum
EOMR €157,000 based on 100% occupancy • Net
Net Initial Yield 10.84%
Reversionary Yield 13%
Property Location

The subject property is situated on a prominent site with dual frontage onto the Old Dublin Road & the Rhebogue Road and benefits from a large catchment area which includes Castletroy and Rhebogue. Castletroy is one of Limerick’s most popular suburbs and its population growth is parallel to the growth of the University of Limerick which is approx. 2.7km from the subject property. Surrounding business occupiers include The Parkway Retail Park, The Parkway Shopping Centre which are home to tenants such as TK Maxx, Costa Coffee, Jysk, Smyths Toys and Dunnes Stores. Limerick City Centre is approx.3km from the subject property.

Property Description

For Sale by Best and Final Bids

The property is a mixed-use commercial building that benefits from dual frontage onto both the Old Dublin Road and Rhebogue Road. The property comprises two detached buildings and the total floor area extends to 16,492 sq. ft (1,532 sq.m) and was constructed circa early 2000’s. The development is partially let with 80% occupancy, generating a current passing rental income of €143,000 per annum with a potential estimated rental income of €157,000 per annum with full occupancy. Tenants within the subject property include O’Sullivan’s Pharmacy, Polonez, Park Childcare and Colorworx . The property benefits from on-site surface car parking.

 

All information in relation to the development will be uploaded to a dataroom. Please see parklodgeproperty.com 

Best & Final Bids to be submitted in writing to michael.oconnor@qre.ie by 12 noon 4th November 2021.

Property Status
For Sale
VAT
VAT is payable
Documents

QRE Contact

Michael O Connor
Director – Area South West
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