Fraser`S House, Sexton St North, Thomondgate, Limerick

€595,000


Other

  Description

The property comprises a two storey detached commercial building with two ground floor retail units and restaurant at first floor level. The ground retail floor units are occupied be Fine Wines Off License and Elegant Flooring and the first floor is occupied by a Chinese restaurant trading as Sequoia. The retail unit occupied by Fine Wines is fitted out with suspended ceilings incorporating recessed lighting, air conditioning, painted plastered walls and tiled floors. The unit is open plan with a rear store, office and toilet. There is a roller shutter door which provides access to the rear yard. The retail unit occupied by Elegant Flooring is fitted out with suspended ceilings incorporating recessed lighting, air conditioning, painted plastered walls and timber floor covering. The unit is mostly open plan and includes an office, kitchen, staff toilet and disabled toilet. There is access at the rear to a fire escape. Sequoia Chinese restaurant is located at first floor level and accessed by stairs from a ground floor lobby. The premises is fitted out with painted plastered walls and ceilings, air conditioning, and a combination of carpet and tiled floor coverings. The accommodation includes reception / bar area, waiting area, restaurant seating area (approx 45 covers), fully fitted kitchen, ladies & gents toilets, stores and external smoking balcony. There is access at the rear to a fire escape. Externally at ground floor level there is a side entrance which leads to a rear yard extending to approx. 2,755 sq.ft.

  Accommodation

Unit 1 - Ground Floor - 168.2 sqm (1810 sqft)
Fine Wines The premises are occupied by Fine Wines under a 25 year lease from 26th July 2006. The lease provides for a rent review at the end of the tenth year and five yearly rent reviews thereafter. The current rent passing is €15,000 per annum.

Unit 2 - Ground Floor - 144.53 sqm (1556 sqft)
Elegant Flooring The premises are occupied by Elegant Flooring on a 5 lease from July 2017. The current rent passing is €10,000 per annum. The rent is stepped as follows: Year 2: €11,000 per annum, Year 3: €12,000 per annum, Year 4: €13,000 per annum & Year 5: €14,000 per annum.

Unit 3 - First Floor - 266.98 sqm (2874 sqft)
Sequoia The premises are occupied by Sequoia under a 21 year lease from 1st October 2008. The lease provides for a rent review at the end of the tenth year and five yearly rent reviews thereafter. The current rent passing is €25,000 per annum.

Directions
Thomondgate is located approx. 2km north of Limerick City Centre. Frazer`s House is located in Thomondgate on the eastern side of Sexton Street North. The property benefits from double frontage onto both Sexton Street North and Belfield Court. Surrounding occupier include Cash 4 Clothes, The House Pizza, Fitzgerald`s Bar. Thomond Park rugby grounds are located nearby to the west and King Johns Castle is located nearby to the east.

Notice
Please note we have not tested any apparatus, fixtures, fittings, or services. Interested parties must undertake their own investigation into the working order of these items. All measurements are approximate and photographs provided for guidance only.


  Viewing