Unit 1 Castletroy Park Complex, Bank of Ireland, Castletroy, Limerick

Exceptional Investment Opportunity in a Prime Location with a Top Quality Covenant Location Limerick is Ireland's third largest city with a population of over 100,000. Castletroy is a prime and progressive suburb of Limerick City. Castletroy is considered the larges suburb neighbour in Munster with a population of over 40,000. Castletroy Park Complex is perfectly position, almost opposite the entrance gate to University of Limerick and adjoining Castletroy Park Hotel, just three kms east of Limerick City Centre. The complex features a quality neighbour centre with trading concerns including Spar Supermarket, Relish Caf, Castletroy Park Pharmacy, Regus Shard Office, Coillte etc. Bank of Ireland occupies a prominent corner position overlooking Plassey Park Road. Central Castletroy popularity is founded on a number of key features including: - National Technology Park (385 acres) of parkland, with over 80 companies including Johnson & Johnson, Northern Trust, Edward Life Science, and more. - University of Limerick and Sports Arena with 18,000 students. - Castletroy Golf Course. - Carlton Castletroy Hotel. - Four primary schools, two secondary schools. - Excellent connectivity to M7 motorway. Description This busy branch comprises a modern end of terrace single storey unit. Construction is of concrete walls with a stone clad front, double glazed front faade and double-glazed windows. It is almost rectangular in shape and fronts a paved footpath. Parking is by surface to the front and an underground car park to the rear. Accommodation The following is the accommodation and net internal floor area:- Front Retail & Rear Staff/Stores Sq m Sq ft 375 4,037 Tenancy The entire is leased to The Governor & Company of the Bank of Ireland a full repairing and insuring 25 year lease from 3rd December 2007. Rent reviews are every 5 years to increase by 15%on the passing rent. The current and annual rent is 217,022. Rent is to increase as follows: 2023~249,575. 2028~287,011. Title Assumed long leasehold. BER Details BER:- C3 BER No:- 800859316 Energy Performance Indicator:- 89.54 kgCO2 /m2/yr 1.46 Joint Agents Costelloe Estate Agents 5 Abbey Street Ennis Co. Clare Tel. +353 65 6821 299 Website: www.costelloe.com PSR Licence 002313 Turley Property Advisors 89 Harcourt Street Dublin 2 Ireland Tel. +353 1 4791 500 Fax. +353 1 4791 501 Website: www.turley.ie PSR Licence 002187-006440 Michael Turley Tel: 086 257 2730 Nick O'Loughlin Tel: 087 986 7200 Investment Summary * High Yielding Investment * Quality Covenant * Over 10 Years Unexpired * Fixed Rental Growth * Exceptional Location * Modern Building Guide Price 2,850,000 which reflects a yield of 7.96% from 2023 and a reversionary yield (2028) of 9.16%. The reversionary yield (2023) will be 9.66%.