Bank of Ireland,

The property comprises a three-storey over basement mixed-use commercial building. The ground floor is currently in use as a retail bank branch with a banking hall, a cashier’s counter, cellular offices, storeroom and a strong room. The basement provides for staff facilities, security cash room/vault,

The property comprises a three-storey over basement mixed-use commercial building. The ground floor is currently in use as a retail bank branch with a banking hall, a cashier’s counter, cellular offices, storeroom and a strong room. The basement provides for staff facilities, security cash room/vault, storage and a cellular office.
The internal fit out of the bank has been upgraded in recent years with high-quality finishes and the bank premises presents in excellent condition throughout.
The upper floors provide for office accommodation and is accessed internally by means of a dedicated staircase. The layout provides for cellular offices, meeting rooms, canteen and ladies & gents toilets.

The property benefits from a rear car park providing parking for approx. 11 no. cars.

Tenancy
The subject property is let to The Governor & Company of the Bank of Ireland on a 25-year full repairing and insuring (FRI) lease from the 7th December 2006 at a current rent of €137,000 per annum. The passing rent is fixed for the remainder of the term.

Zoning
The property is zoned Objective MTC “to protect, provide for and/or improve major town centre facilities” under the Dun Laoghaire & Rathdown County Development Plan 2016-2022.

Tenure

We understand the property is held Freehold

Guide Price

Offers are sought in excess of €1,925,000, representing a net initial yield of 6.47% after standard purchaser’s costs of 9.96%.