FOR SALE Kennedy Road, Navan, Co Meath€¦ · Kennedy Road, Navan, Co Meath FOR SALE. The Location...
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Property Highlights • Prime Investment Opportunity in the Heart of Navan Town • Current Passing Income of €216,500 p.a. • WAULT in Excess of 3.5 Years to Break Date/Expiry and in Excess of 5 Years to Expiry • Excellent asset management opportunities • Offers sought in excess of €2,000,000 reflecting a net initial yield of 9.98% increasing to 10.07% in February 2019, allowing for standard purchasers costs of 8.46% Mixed Use Investment Extending to Approx. 773 sq m (8,320 sq ft) Contact Jane Dolan Email: [email protected] Tel: +353 (0) 1 6399225 Kevin Donohue Email: [email protected] Tel: +353 (0) 1 6399234 Cushman & Wakefield 164 Shelbourne Road Ballsbridge, Dublin 4 Ireland Tel: +353 (0)1 639 9300 cushmanwakefield.ie Kennedy Road, Navan, Co Meath FOR SALE
Transcript of FOR SALE Kennedy Road, Navan, Co Meath€¦ · Kennedy Road, Navan, Co Meath FOR SALE. The Location...
Property Highlights• Prime Investment Opportunity in the Heart of Navan Town
• Current Passing Income of €216,500 p.a.
• WAULT in Excess of 3.5 Years to Break Date/Expiry and in Excess of 5 Years to Expiry
• Excellent asset management opportunities
• Offers sought in excess of €2,000,000 reflecting a net initial yield of 9.98% increasing to 10.07% in February 2019, allowing for standard purchasers costs of 8.46%
Mixed Use Investment Extending to Approx. 773 sq m (8,320 sq ft)
ContactJane Dolan Email: [email protected] Tel: +353 (0) 1 6399225
Kevin Donohue Email: [email protected] Tel: +353 (0) 1 6399234
Cushman & Wakefield 164 Shelbourne RoadBallsbridge, Dublin 4 IrelandTel: +353 (0)1 639 9300
cushmanwakefield.ie
Kennedy Road, Navan, Co MeathFOR SALE
The LocationThe subject property is located on Kennedy Road opposite the main shopping thoroughfare in the town.
Navan is located within the Dublin commuter belt, approximately 50km north-west of the city centre. The town is easily accessible with two exits off the M3 Motorway, Junction 8 to the south and Junction 9 to the north. Navan is the primary centre of economic development in Co. Meath and is home to a number of multi-national occupiers, such as BT Ireland, Timoney Technology and Welch Allyn.
Due to the recent surge in residential development in commuter towns, Navan’s population growth is set to grow significantly in the short term.
TenancyUnit Tenant Lease
TermLease Start
DateLease Expiry Break Date Passing Rent
1 New Tenant 10 year 01.08.2018 01.08.2028 01.08.2023 €25,000
2 Enable Ireland 25 year 01.04.1997 31.03.2022 €47,000
3&4 O'Briens 25 year 01.02.1997 31.01.2022 €82,500
5 Arthur's Restaurant Café
15 year 10 months
28.02.2014 01.02.2029 01.02.2024 €23,000 increasing to €25,000 in February 2019
10 Studio One 10 year 01.10.2010 30.09.2020 €15,000
1st floor Offices
Farrelly & Scully 10 year 01.02.2014 31.01.2024 31.01.2019 €24,000
Total €216,500
Navan Town Centre is the dominant shopping centre in the north-east region, with a significant catchment encapsulating almost the entire of Co. Meath as well as a significant portion of Cavan together with parts of Co. Louth and Monaghan.
DescriptionThe subject two storey property is located on Kennedy Road and comprises retail accommodation at ground floor level and office accommodation at first floor level.
The investment comprises 5 ground floor retail units let to individual tenants including O’Briens Wines, Enable Ireland, Arthurs Café, Studio One and most recently a new letting of Unit 1. The first-floor office accommodation is occupied in its entirety by Farrelly & Scully accountants.
Kennedy Road, Navan, Co Meath
The above is provided on a without prejudice basis and for discussion purposes only. The agents, vendors, solicitors et al do not warrant the accuracy of the above in any way.
*Please note the official start date for this lease is TBC.
Schedule of Accommodation
Title Sq m Sq ft1 66 715
2 63 675
3&4 146 1,569
5 69 745
10 55 592
1st floor Offices 374 4,024
Total 773 8,320
For illustrative purposes only. Purchasers to satisfy themselves with same.
TitleWe understand that the property is held under Freehold title
ZoningThe property is in the Meath County Council and is currently zoned under the Navan Development Plan as B1 – “To protect and enhance the special physical and social character of existing town and village centres and to provide for new and improved town centre facilities and uses.”
VATFurther information available upon request
BER detailsB2 – E1 Available upon request
PriceOn Application
Conditions to be noted: A full copy of our general brochure conditions can be viewed on our website at http://www.sherryfitz.ie/terms or can be requested from your local Cushman & Wakefield office. We strongly recommend that you familiarise yourself with these general conditions. PSRA Registration Number: 002222.
Cushman & Wakefield 164 Shelbourne RoadBallsbridge, Dublin 4 IrelandTel: +353 (0)1 639 9300Email: [email protected]
cushmanwakefield.ie
ContactJane Dolan Email: [email protected] Tel: +353 (0) 1 6399225
Kevin Donohue Email: [email protected] Tel: +353 (0) 1 6399234
