Merchamp Centre, Vernon Ave, Clontarf, Dublin 3, D... - BidX1

Guide Price €2,100,000

Closing Time: To Be Confirmed

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Auction

Merchamp Centre, Vernon Ave, Clontarf, Dublin 3, D03K5W7

Auction
Ireland
Mixed Use
Commercial

Guide Price €2,100,000

Bidder Security €19,000 *fully refundable if unsuccessful bidder

Register to Bid

Auction Date 23 July

Bidding Opens 10:30 (GMT+1)

Bidding Closes To be Confirmed

Property Summary

Prime Dublin Suburban investment.
Standalone two storey mixed-use building.
Comprising 3 x ground floor retail units and first floor office accommodation.
First floor offices recently refurbished.
20 x car parking spaces.
Entirety extending to approximately 351 sq m (3,772 sq ft).
Total current rent reserved: €221,600 per annum.
9.85% Gross Yield.
NOI of €181,942.
NIY of 7.88%

Contact Us

Richard Hoey

Richard Hoey

Property Agent, here to help.

richard.hoey@bidx1.com

+353 (0) 85 804 8210

Legal Contact

Sinead Sheerin

Vendor's Solicitor

sinead.sheerin@maples.com

Contact Us

Richard Hoey

Richard Hoey

Property Agent, here to help.

richard.hoey@bidx1.com

+353 (0) 85 804 8210

Legal Contact

Sinead Sheerin

Vendor's Solicitor

sinead.sheerin@maples.com

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Property description

The property is arranged over ground and first floor floor to provide a mixed use, surburban investment opportunity. Internally the property comprises 3 x ground-floor retail units together with 9 x offices on the first floor. The property is a self contained

The property is situated on a prominent corner site of Vernon Ave and Seafield Road in the heart of Clontarf. The property is located 5.5km from Dublin City Centre. The area is predominantly residential. surrounding occupiers include Clontarf GAA Club, Nolans Pharmacy and Clontarf Hospital.

Office fitout inlcudes :

New ceilings and flat panel LED lighting throughout
Energy efficient electric heaters to all offices
New floor coverings and redecorated walls throughout
Dado trunking and general power sockets to all offices
New services for installation of kitchen/canteen
New sanitary ware installations to WC/shower

Tenant	Use	Floor	Sq. M.	Sq. Ft.	Lease Term	Commencement Date	Break Option	Rent (p.a) exclusive of VAT	Lease Expiry
Corner Shop	Retail	Ground	46	500	15 years	01.04.2024	End of year 7	€ 21,000	31.03.2039
Off Licence	Retail	Ground	85	910	35 years	1.10.1989	NA	€ 27,000	30.09.2024
Insomnia	Retail	Ground	85	910	35 years upward only rent reviews	01.08.2007	N/A	€ 50,000	31.07.2042
Unit 1	Office	First	14	151	License Agreement	x	N/A	€ 14,400	N/A
Unit 2	Office	First	15	162	License Agreement	x	N/A	€ 14,400	N/A
Unit 3	Office	First	20	215	License Agreement	x	N/A	€ 16,500	N/A
Unit 4	Office	First	20	215	License Agreement	x	N/A	€ 16,500	N/A
Unit 5	Office	First	12	129	License Agreement	x	N/A	€ 12,000	N/A
Unit 6	Office	First	17	183	License Agreement	x	N/A	€ 14,400	N/A
Unit 7	Office	First	7	75	License Agreement	x	N/A	€ 7,800	N/A
Unit 8	Office	First	16	172	License Agreement	x	N/A	€ 14,400	N/A
Unit 9	Office	First	14	150	License Agreement	x	N/A	€ 13,200	N/A
		Total	351 Sq. m	3,772 Sq ft.				€ 221,600

All intending purchasers are advised to satisfy themselves as to the accuracy of the measurements provided.

VAT

Please refer to Legal Documents

BER Rating

C2 - C3

BER Identification Number

Available From Bidx1

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*Terms & Conditions

No information, statement, description, quantity or measurement contained in any sales particulars or given orally or contained in any webpage, brochure, catalogue, email, letter, report, docket or hand out issued by or on behalf of BidX1 or the vendor in respect of the property shall constitute a representation or a condition or a warranty on behalf of BidX1 or the vendor. Any information, statement, description, quantity or measurement so given or contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the vendor are for illustration purposes only and are not to be taken as matters of fact. Any mistake, omission, inaccuracy or mis-description given orally or contained in any sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the vendor shall not give rise to any right of action, claim, entitlement or compensation against BidX1 or the vendor. All bidders must satisfy themselves by carrying out their own independent due diligence, inspections or otherwise as to the correctness of any and all of the information, statements, descriptions, quantity or measurements contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the vendor. BidX1 is a trading name of BidX1 Ireland Limited. PSRA Registration Number 001652.