Digital Sale
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Watermill Place, Main Street, Monasterevin, Co. Kildare, W34 F6P6

Digital Sale
Ireland
Retail
Commercial

Asking price €1,240,000

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Property Summary

  • Multi-Unit Retail Investment
  • Town centre neighbourhood scheme in Monasterevin
  • Rental income of €129,173 per annum
  • Approximately 73% of income from Kildare County Council Library, Medical Centre & Pharmacy
  • Net Initial Yield of 9.5%
  • Fully occupied with WAULT of 4.9 years
  • 5 retail units extending to a total of 10,046 sq ft
  • Tenants not affected

Contact Us

Johnny O'Connor
Johnny O'Connor
Property Agent, here to help.
Tony O'Sullivan
Vendor's Solicitor

Contact Us

Johnny O'Connor
Johnny O'Connor
Property Agent, here to help.
Tony O'Sullivan
Vendor's Solicitor

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Property description

Watermill Place comprises of a mixed use development with ground floor retail and residential accommodation overhead located in the town centre of Monasterevin. The asset for sale includes the commercial element only comrising of four ground floor retail units and one first floor office unit occupied by a medical practice.

The retail units offer diverse uses with occupiers including take away, hairdressing and beauty, pharmacy, medical practice and library.

The investment offers a WAULT to break of 4.9 years and 11.7 years to expiry.

Watermill Place is let on five individual leases with a total income of €129,173 per annum.

Tenants are not affected.

Location

Watermill Place is located in the town centre of Monasterevin in Co Kildare.

The town is situated on the south eastern side of the county, approx. 11 km east of Kildare town and 20 km west of Portlaoise town. The town is situated 69 km east of Dublin City.

Monasterevin is located at junction 14 of the M7 forming part of the Dublin to Cork/Limerick route. Monasterevin is located along the Dublin - Cork rail line accessed at Monasterevin railway station.

The property is located in the town centre within walking distance of the train station, bus routes and all amenities including shops, schools, gym, etc.

Tenancy

The units are held on individual leases. Please refer to the legal documents for detailed information.

Lease summary as per table below:

UnitUseSize in Sq FtTenant T/AYears to EXP / BRKContracted Rent in €
1F&B1,236Ron's Takeaway8.4720,000
2Retail1,571Simon Sweeney Hair Design7.4816,000
3Retail4,483McGreals Pharmacy*1.4358,266
4Office / Surgery961Watermills Practice1.228,000
5Retail1,795Library*9.9926,907
Total 10,046 WAULT 4.9 yrs129,173

* recent Break Option not exercised

Unit 2 Rent Reviews:

  • stepped Rent to increase to €20,000 p.a. in March 2023 and CPI linked rent reviews

VAT

Please refer to Legal Documents

BER Rating

B2 - F


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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 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.