Kellys Lane, Maynooth, Co. Kildare
BER No: 800694804
EPI: 507 kWh/m2/yr
***PERFECT PENSION PROPERTY**TENANTS NOT AFFECTED**
Quantum Property bring this excellent investment opportunity to the market. The OPW, a government tenant, occupy the ground and 1st floor on a co terminus lease agreement due to expire in 2028. The OPW have occupied the building since 2011. Max Mooney Solicitors occupy the 2nd floor of the building and have been in occupation since 2006 approx.
The OPW rent is 27,654 per annum paid quarterly in advance. Rent reviews are every 3 years. The next rent review is scheduled for 14th December 2022 for the ground floor, and
we would expect to see reversionary potential in this regard.
Max Mooney Solicitors occupy the second floor. Their lease commenced 21st November 2017 and are also on a 10 Year lease. Their rent is 12,000 per annum.
Total Rent 39,654 per annum. ***Net Initial Yield 7% After Standard Purchase Cost of 9.96%***
The subject property is an end of terrace three storey building with offices provided on each floor. The gross floor area is circa 3,000 Sq. Ft. The building has a concrete and block frame structure. Externally the building comprises of concrete blockwork with a painted sand and cement render finish. The floor structure comprises of solid concrete construction. A mansard truss roof structure with a natural slate roof covering is provided. The property is accessed from KellyTM Lane off the main street of Maynooth village. The building was constructed in the mid-2000TM.
Maynooth is a university town in north County Kildare, Ireland. It is home to Maynooth University
(part of the National University of Ireland and known as the National University of Ireland, Maynooth) and St PatrickTM College, a Pontifical University and IrelandTM sole Roman Catholic seminary. Maynooth is located 24 kilometres (15 miles) west of central Dublin.