Excellent Investment Opportunity - Tenant Not Affected
Offered at bids over €340,000 in partnership with IAM Sold
We are delighted to offer this strong investment opportunity to the market which has been tenanted on a 10 year lease from the 1st October 2016 with an annual rent of €35,000 pa. The property comprises a retail unit of circa 478 sq. ft.. (44 sq. m). The reserve of €340,000 offered a gross yield of 10.29 % which reflect an excellent return on investment.
Located in a high-profile location with excellent frontage in the main atrium on Level 2 of The Square Town Centre, Tallaght. This unit itself is fitted out to a high standard and presents a strong investment opportunity.
The lease incorporates an open market rent review with the first review is due on the 1st October 2022 and includes a tenant break option. The tenant is a fashion retailer which have 4 fashion outlets in Dublin.
Location
Located in The Square Tallaght, the unit benefits from being in one of the longest established shopping centres in Ireland and incorporates over 575,000 sq. ft of pace over 3 levels. There is a strong annual football of 22.2 million.
The Square Towncentre is located in Tallaght, a densely populated urban conurbation which serves as a commuter suburb southwest of Dublin City Centre. Tallaght is the third-largest population centre in the country larger than the cities of Galway, Limerick, Waterford and Kilkenny.
It is a major commercial hub and social activity centre of west Dublin. The Square is the retail and leisure hub for the entire Tallaght area and is the de facto town centre where people live, work and shop. This is reflected in the significant volume of visitors with annual door counts of 22.2 million and car park numbers of 4.64 million.
South Dublin County Council, the public library and all the government services for the town are adjoining the centre. Tallaght Hospital employing 3,000 people and the TU Dublin Tallaght Campus (3,700 students) are both within a five-minute walk of the centre
BER C2 / BER No. 800376436
*Please note all properties are subject to a starting bid price and an undisclosed reserve. Both the starting bid and reserve price may be subject to change. Terms and conditions apply to the sale, which is powered by iamsold.
This property is offered for sale by unconditional auction. The successful bidder is required to pay a 10% deposit and contracts are signed immediately on acceptance of a bid. Please note this property is subject to an undisclosed reserve price. Terms and conditions apply to this sale.
Building Energy Rating (BERs) give information on how to make your home more energy efficient and reduce your energy costs. All properties bought, sold or rented require a BER. BERs carry ratings that compare the current energy efficiency and estimated costs of energy use with potential figures that a property could achieve. Potential figures are calculated by estimating what the energy efficiency and energy costs could be if energy saving measures were put in place. The rating measures the energy efficiency of your home using a grade from ‘A’ to ‘G’. An ‘A’ rating is the most efficient, while ‘G’ is the least efficient. The average efficiency grade to date is ‘D’. All properties are measured using the same calculations, so you can compare the energy efficiency of different properties.
Please contact us for more information about this property.
A non-refundable contract deposit of 10% (minimum deposit of €6,500.00) is required to be paid by the successful bidder for this property.
A Bidder Security Deposit of €10,000.00 is required to be pre-authorised from the bidders debit or credit card through the payment facilities on the auction website when registering to bid. A bidder has also the option of transferring the minimum deposit amount by bank transfer to iamsold's client account to authorise them to bid on the Online Auction (please note, this option may take several days).
The pre-authorisation amount will only be captured from the successful bidder on acceptance of their bid. This will form part of the non-refundable part payment contract deposit.
Any balance of the full contract deposit must be paid by the successful bidder to iamsold within 48 hours of acceptance of their bid. The deposit balance can be paid by debit/credit card, or same day bank transfer to iamsold's client account.
All unsuccessful bidders will have their pre-authorisations released OR their bank transfer refunded within 5 working days of conclusion of an auction or withdrawal of the Lot from the Online Auction.
Bidders are required to pay a non-refundable €50.00 (including 23% VAT) registration fee per property they register to bid on.
For further information or to speak to one of our team, please call 01 687 5040.
These particulars, whilst believed to be accurate are set out as a general outline only for guidance and do not constitute any part of an offer or contract. Intending purchasers should not rely on them as statements or representation of fact, but must satisfy themselves by inspection, measurement or otherwise as to their accuracy. No person in this firms employment has the authority to make or give any representation or warranty in respect of the property. Properties may be sold via online auction or public auction and bids made prior to public auction may be accepted by the vendors. iamsold and our partner auctioneer will share relevant personal information and transactional updates with each other so that we can effectively market and sell properties including the arrangement of viewings and follow up.
