37 Main Street Blackrock, Blackrock, Co. Dublin
37 Main Street Blackrock, Blackrock, Co. Dublin
Type
Commercial
Status
Sale Agreed
Size
405 sq.m.
Description
INVESTMENT OPPORTUNITY - TENANTS NOT AFFECTED
Quantum Property Consultants bring to the market this excellent investment opportunity located at 37 Main Street, Blackrock, Co. Dublin. This well presented 3 storey over basement property consists of ground floor retail with 1,400 sq. ft. of retail space and 1,400 sq. ft. of basement, 2 x 2 bed apartments each 560 sq. ft. and 1 x 1 bed apartment circa 440 sq. ft. in size. The total size of the building is circa 4,360 sq. ft.
The ground floor retail area and basement area is let out to Sandgrove Ltd, part of the BWG (Spar) Group of companies. The Sandgrove lease expires on August 30th, 2026. The commercial annual income is 90,000. It is our opinion that on expiry of the lease in August 2026, a market rent of circa 60,000 will be applicable.
A Fast Food business, Tacito, is a sub tenant of Sandgrove Ltd. and have been operating in the premises since 2015 approx.
These apartments are well-maintained and attractively designed, offering comfortable living spaces for tenants. Apartment 1, a 2 bed, is producing 1,717 per month (20,604 pa), Apartment 2, a 2 bed, is producing 1,890 per month (22,680 pa) and Apartment 3, a 1 bed, is producing 1,321 per month (15,852 pa). The residential annual income is 59,136.
Total Rent 149,136 pa.
Gross Yield 9% before standard purchase costs of 1% residential and 7.5% commercial, plus legal, agent fees plus VAT.
Rates are approx 9,639 & Insurance is approx 1,750.
LOCATION
37 Main Street is one of the best located buildings in Blackrock, enhancing its investment appeal. Blackrock is a busy and vibrant village in one of Dublins most affluent areas. Dublin City is approximately 8KM and can be accessed along the Coast Road or by the DART line, where Blackrock station is only a couple of minutes walk away from the subject building. No. 37 also has a Quality Bus Corridor on its doorstep on the N31 & R118. The redeveloped Blackrock & Frascati Shopping Centres are both located within a few hundred meters. Blackrock is a vibrant village full of eateries and bars and bespoke shops. The surrounding area benefits from strong public transport links with the property located 50 meters from the N31 and 3km from the N11. Both roads are key routes that give access to the North & South of County Dublin.