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Ormston House9/10 Patrick Street, LimerickPrice: €60,000
Type: Retail
Address: Ormston House, 9/10 Patrick Street, Limerick
Asking price: €60,000
This is a unique opportunity to acquire a leasehold interest in arguably Limerick citys most prolific retail pitch.
No. 9-10 Patrick Street enjoys dual frontage onto both Patrick Street and Ellen Street. The Street benefits from the good footfall generated by its retail neighbours who include River Deep Mountain High, Havana and Tesco.
The unit will also benefit from Limerick's newest shopping centre, The Opera Centre which has just been granted planning permissison.
LOCATION
Limerick is the capital of the midwest and is the fasted growing commercial shopping and business centre outside of Dublin with a city and hinterland population of over 204,000 and a significant regional shopping catchment of 360,000.
The new "Opera Centre" which has just been granted planning permission is to be located immediately adjacent to Ormston Hosue, which will make this location a prime retail pitch which enjoys dual frontage onto both Patrick Street and Ellen Street.
The Opera Centre is a 350,000sq.ft planned shopping centre in Limerick City. The centre will have 2 main entrances, one will face the river at Bank Place and the other will be on the junction of Patrick Street and Ellen Street.
The most striking aspects to the design of the Opera Centre are the two modern glass fronted entrances. The other stand-out feature is the "Sky Bridge", a glass and steel pedestrian bridge, which will link a new multi-storey car park on Denmark Street with the centre at Ellen Street.
DESCRIPTION
The Property comprises a rectangular shaped ground floor retail unit in a four storey over basement commercial & Residential building. This retail unit has dual frontage to both Patrick Street and Ellen Street. The street frontage of this unit is approximately 10 metres to Patrick Street and 7m to Thomas Street.
The ground floor unit comprises a floor area of approx 2,100 sq.ft with a store and Kitchen to the rear. There is a basement area included consisting of 2,400sq.ft.
ACCOMMODATION
Contact Diane Kearney.
LEASE DETAILS
The Property is currently held on a modern 35 X 5 FRI lease from August 1988 with 17 years remaining. Next rent review is in August 2008. The current passing rent is €85,440.
PREMIUM
€100,000 premium.
RATEABLE VALUATION
The rateable valuation for this premises is €311.09 which is c. €23,332 per annum.
VIEWING
Strictly by prior appointment with the sole agents O'Connor Murphy Gubbins.
