Private Treaty
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Fenbyrne House, Main Street, Arklow, Co. Wicklow, Y14 C3K8

Private Treaty
Ireland
Mixed Use
Commercial

Asking price €1,850,000

Property Summary

  • A mixed use investment opportunity in Arklow Town Centre
  • 8 x 2- bed residential units & 4 x retail / commercial units 
  • Fully let development generating a combined rental income of €176,616 p.a.
  • Blended NIY of 8%
  • Reversionary potential with upcoming rent review on commercial units
  • Two commercial leases have rent reviews in 3-year intervals 
  • 5 x surface car parking spaces 
  • Total floor area over three storeys extends to approx. 12,757 sq ft
  • Excellent Town Centre location 

Contact Us

Johnny O'Connor
Johnny O'Connor
Property Agent, here to help.
Nana Collins
Nana Collins
Property Agent, here to help.
Deirdre Farrell
Vendor's Solicitor

Contact Us

Johnny O'Connor
Johnny O'Connor
Property Agent, here to help.
Nana Collins
Nana Collins
Property Agent, here to help.
Deirdre Farrell
Vendor's Solicitor

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Property description

Fenbyrne House comprises a three storey, mid-terrace, mixed use property located in the centre of Arklow town. 

The property contains 4 no. retail units on the ground floor, two of which front onto Lower Main Street and two front to the public town car park to the rear.

The eight residential units are laid out over first and second floor ranging in size from 824 sq ft to 1,171 sq ft.

All units comprise 2 bedrooms with one ensuite and benefit from a balcony / terrace. Two of the residential units are duplex apartments.

The total residential floor area extends to 8,062 sq ft and retail area to 4,695 sq ft. There is additional private open space and two bin stores within the property demise.

 

Location

Fenbyrne house is located in the centre of Arklow town within close proxinimty to all amenities.

Arklow is a busy town in Wexford on east coast of Ireland, approximatley 85 km sout of Dublin City, with an urban population of around 13,000 people.

Aklow is easily accessed due to its convenient location along the M1 and further benefits from a train station along the Dublin-Rosslare railway line.

Tenancy

All residential units are let on individual private tenancies.

The commercial units are let on the following terms:

  • Unit 1 - 10 year lease to hair and beauty salon from 1st Nov. 2018 with three yearly rent reviews and a tenant break option at the end of year 5.
  • Unit 2 - 10 year lease to restaurant operator from 1st July 2019 with three yearly rent reviews and a mutual break option at the end of year 5.
  • Unit 3 & 4 - 10 year lease to Sunbeam House from 1st April 2017 with five yearly rent reviews. 

Tenancy and Accommodation Schedule:

Apt NoBedsSize in Sq FtRent p/mRent p. a.
No 121,065€1,194€14,328
No 221,065€1,242€14,904
No 32980€1,300€15,600
No 42980€1,200€14,400
No 52830€1,194€14,328
No 62830€1,179€14,148
No 721,190€1,194€14,328
No 821,190€1,300€15,600
8 x Apt 8,130€9,803€117,636
Retail Unit NoUseSize in Sq FtRent p/mRent p. a.
Unit 1Service Retail900€965€11,580
Unit 2F&B1,250€1,300€15,600
Unit 3 & 4Service Retail2,600€2,650€31,800
4 Retail Units 4,750€4,915€58,980
     
Total 12,880€14,515€176,616

Zoning

The property is located within an area zoned objective TC - Town Centre, 'to provide for the development and improvement of appropriate town centre uses including retail, commercial, office and civic use, and to provide for ‘Living Over the Shop’ residential accommodation, or other ancillary residential accommodation, as defined by the Arklow and Environs Local Area Plan 2018 - 2024.

VAT

Please refer to Legal Documents

All Offers

Bidder ID
Date
Offer
138895
06/05/2022 14:21:34
€1,850,000

*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 interested parties 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.