Lot 317 1-3, North King Street, Dublin 1

Bidding Closed

SOLD FOR

€726,000

Property Enquiries

Anna-Kate Fields

anna-kate.fields@bidx1.com
+353 (0)1 667 3388
+353 (0)1 667 3388

Viewing/ Registration Enquiries

BidX1 Support Team

info@ie.bidx1.com
+353 (0) 1 667 3388

Vendor Solicitor

Mairead Ni Laoire

mnilaoire@jrapom.ie
+353 (0)21 4277444
Description
Map
Viewings

Property Summary
  • A city centre retail investment.
  • Comprising 45% of a retail unit extending to approximately 691 sq. m (7,438 sq. ft).
  • Entire unit let to Musgrave Group Limited t/a Centra.
  • Lease expiry 2029.
  • Total current rent reserved €155,000 p.a.
  • Current rent received €69,750 p.a. (a 45% share of the total rent).
Location
  • Dublin 1 is a densely populated city centre area located immediately north of the River Liffey.
  • North King Street is situated approximately 700m north of OConnell Street and Henry Street which form the main retail district in the city centre.
  • The area is serviced by a number of public transport links including the Luas at Jervis Street and multiple Dublin Bus routes.
  • The subject property is located on North King Street at the intersection with Henrietta Place.
  • Surrounding occupiers include DIT Bolton Street, MACRO Community Resource Centre and Beerhouse.
Description

The lot comprises a 45% share in a ground floor retail unit extending to approximately 691 sq. m (7,438 sq. ft).

Tenancy

The entire property is at present let to Musgrave Group Limited t/a Centra for a term of 25 years from 01.06.2004 at a contractual rent of €155,000 per annum. The lease provides for rent reviews every fifth year and contains full repairing and insuring covenants. We have been informed by the Vendor that they are currently collecting 45% of the total current rent reserved (€69,750 per annum).

Tenant Information

Musgrave Group plc, through its subsidiaries, is engaged in the wholesale and retail distribution of food and grocery products in Ireland, the United Kingdom, and Spain. The company operates its stores under the Dialprix, Mace, Daybreak, Superquinn, Budgens, Londis, Centra, SuperValu, Musgrave MarketPlace, and Dialsur brands. It is also engaged in property investment and finance activities. Musgrave Group plc was founded in 1876 and is headquartered in Cork, Ireland.

VAT
Please refer to Legal Documents
BER
Number

800594228

Energy Performance Indicator

960.15 kWh/m²/yr 1.57


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.


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