For Sale By Private Treaty Tenants not affected Mixed-Use Investment Opportunity 3 4-3 7 M A I N S T R E E T, F I N G L A S, D U B L I N 1 1 THE BOTTOM OF THE HILL
Executive Summary Significant fully let investment opportunity Extending to approximately 1,003 Sq. m (10,797 Sq. ft) Site extending to approximately 0.19 Ha (0.47 Acre) Tenants include: The Bottom of the Hill, Paddy Power, Rose Garden Chinese Restaurant, Marcolino s Take away Ample Parking Potential redevelopment site in the short to medium term Total passing rent 179,600 per annum Total Contracted rent 188,000 per annum Quoting 1,600,000 by Private Treaty Representing a net initial yield of 10.75% Location The subject property is located on the northern side of the Main Street in Finglas at the junction of Ballygall Road West and Main Street, in the heart of a well-established residential location. Finglas is located less than 6km from Dublin city centre; the area is a hub of activity with a wide range of amenities in the surrounding area. Local occupiers include Permanent TSB, Lloyds Pharmacy, AIB, Mace, Dealz, Costa Coffee and Power City to name but a few. The area enjoys good transport links with numerous bus routes serving the area, providing connectivity to the city centre and suburban locations. Finglas Village is situated at Junction 5 of the M50 and the N2 national primary road leading to Ashbourne and beyond.
Description 34-37 Main Street, Finglas comprises a traditional two storey over basement detached premises with a pitched roof which has substantial frontage onto the main street. The property extends to approximately 1,003 Sq. m (10,797 Sq. ft) in total and benefits from ample car parking to the side. The property comprises of a well-established licenced premises t/a The Bottom of the Hill, which briefly comprises ground floor public bar, lounge with raised seating area, catering kitchen and pool table area while in the basement there is a cellar, cold room and ancillary storage. Further occupiers on the ground floor include Paddy Power bookmaker and Marcolinos Take-away, both of which benefit from extensive frontage on the Main Street and have their own separate entrances. The Rose Garden Chinese restaurant is arranged over the entire first floor comprising of a large seated dining area, kitchen, bar, staff facilities and balcony. The restaurant is accessed to the side of the building via the carpark. A detailed schedule of accommodation/tenancy schedule is documented below. Schedule of Accommodation / Tenancy Summary Floor Tenant Lease Commencement Term Yrs Break Date Lease Expiry Passing Rent p.a Ground The Bottom of the Hill 16/03/10* 5 19/03/16 75,000 Ground Paddy Power Bookmakers 08/12/09 10-07/12/19 35,000 Ground Marcolino's 20/06/11 20 19/06/16 19/06/21 28,000 First Rose Garden Chinese Restaurant 17/11/09 10-16/11/19 41,600** Total 179,600*** * The lease dated 16.03.2010 has expired, the tenant subsequently signed a 12 month lease extension which has also expired and thus the tenant is over holding. The tenant has signed a deed of renunciation. **This rent is abated from 50,000 ***Total Contracted rent is 188,000 All parties should satisfy themselves of the measurements.
Zoning The Opportunity The property occupies a site corner of 0.19 ha (0.47 acres) and is zoned Objective Z4 District Centre under the Fingal Development Plan 2011-2017: to provide for and improve mixed services facilities. The sale of The Bottom of the Hill offers an excellent opportunity to acquire a long established licensed premises with considerable business potential, whilst availing of the incoming rent with a view to potential redevelopment. (subject to planning permission)
Title Freehold Professional Team On behalf of the Mercantile Group VAT VAT is applicable on the sale of the property Guide Price 1,600,000 Viewings Viewings are strictly to be arranged through the sole selling agents Licence 7 Day Ordinary Licence (Publican s Licence) Services All mains services are connected to the property BER Solicitors Clerkin Lynch 30 Molesworth Street Dublin 2 Contact Brian Kelly Surveyor T: +353 (0) 1 637 5555 E: brian.kelly@qre.ie Bryan Garry MRICS MSCSI Associate Director T: +353 (0) 1 637 55 55 E: bryan.garry@qre.ie Conor Whelan MRICS MSCSI Director T: +353 (0) 1 637 55 55 E: conor.whelan@qre.ie qre.ie PSRA Registration No. 001798 The agents on their own behalf and on behalf of the vendor/lessor of this property, give notice that: (a) these particulars do not constitute in whole or in part an offer or contract for sale or lease; (b) none of the statements contained in these particulars as to the property are to be relied on as statements or representations of fact; and (c) the vendor/lessor does not make or give, and neither the agents nor any of its members or any person in its employment has any authority to make or give, any representation or warranty whatsoever in relation to the property. The only representations, warranties, undertakings and contractual obligations to be given or undertaken by the vendor/lessor are those contained and expressly referred to in the written contract for sale or agreement for lease between the vendor/lessor and a purchaser or tenant. Prospective purchasers or tenants are strongly advised to: (a) satisfy themselves as to the correctness of each statement contained in these particulars; (b) inspect the property and the neighbouring area; (c) ensure that any items expressed to be included are available and in working order; (d) arrange a full structural (and where appropriate environmental) survey of the property; and (e) carry out all necessary searches and enquiries. Any representation including descriptions, dimensions, references to condition, permissions or licenses for uses or occupation, access and any other details are given in good faith and are believed to be correct, but any intending purchaser or tenant should not rely on them as statements or representations of fact but must satisfy themselves (at their own expense) as to their correctness.