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For Sale / Sale Agreed

1 - 7 Garryglass Business Park,

Co. Limerick, V94 CX4C
46,788 SQ.FT
Offers in excess of
€2,700,000
Investment Property

Property Overview

INVESTMENT SUMMARY

  • Rare opportunity to acquire a high profile 1.05 ha (2.59 acre). freehold site. The property provides for a mixture of retail warehousing (showrooms) and warehouse accommodation
  • Extending to approx. 4,347sq.m (46,787 sq.ft) GEA.
  • Large car parking area to the front providing approx. 90 no. car parking spaces with ancillary parking, loading areas and yard space located to the side and rear.
  • The property is currently configured as five distinct commercial units (one vacant).
  • Tenants include The Paneling Centre, Luminaire, Slide Deco, and Blue Box (Antiques).
  • Rental income €179,800 p.a from four tenants, with anticipated rental increases at rent reviews and lease renewals.
  • Weighted average unexpired lease term (WAULT) of 4.74.
  • The entire is zoned Retail Warehousing under the 2022-2028 Limerick Development Plan, offering long term redevelopment potential (subject to planning permission).
  • For sale by private treaty.

INVESTMENT SUMMARY Rare opportunity to acquire a high profile 1.05 ha (2.59 acre). freehold site. The property provides for a mixture of retail warehousing (showrooms) and warehouse accommodation Extending to approx. 4,347sq.m (46,787 sq.ft) GEA. Large car parking area to the front providing approx.

  • SITE AREA OF APPROX. 1.05 HA (2.59 ACRES) ZONED RETAIL WAREHOUSING
  • APPROX 120 METRES OF FRONTAGE ONTO THE OLD BALLYSIMON ROAD
  • WAULT OF 4.74 YEARS INC NEAREST BREAKS
  • SCOPE TO IMMEDIATELY INCREASE INCOME AT UPCOMING RENT REVIEWS AND LEASE RENEWALS, AND BY LEASING UNIT 3
  • ASSET MANAGEMENT OPPORTUNITIES TO ENHANCE VALUE

Accommodation

TENANCY & ACCOMMODATION SCHEDULE

UnitTenantCurrent RentLease StartLease Expiry Tenant Break Retail Warehouse GEA M2Warehouse GEA M2MEZZ GEA M2Total GEA M2Total GEA FT2
1Private Individual t/a Blue Box Antiques€24,00018/01/2013OverholdingN/AN/A627.6534.71,162.312,511
2Pro Slide Limited€10,80001/03/201829/02/2028N/A318.3N/AN/A318.33,426
3Vacant- N/AN/AN/AN/A238.4N/A238.42,566
4Robford Limited €15,00011/06/201910/06/202911/06/2024398.7N/A385.9 784.68,445
5-7Panelling Centre Limited€130,00008/04/200907/04/2029N/A636.31,206.8Tenant Installation1,843.119,839
Total €179,8001,353.32,072920.64,346.746,788

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