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Ormston House, 9-11 Patrick Street, Limerick City

  • Auction
  • Lot 173
  • Ireland
  • Commercial Building
  • Commercial

GUIDE PRICE €450,000

Property Summary

  • A city centre commercial investment.
  • Comprising two x retail units over basement and ground floors.
  • Extending to approximately 658 sq. m (7,083 sq. ft) in total.
  • Nos 9-10 let to Limerick City Council.
  • Licence agreement.
  • No. 11 let to an individual t/a River Deep, Mountain High.
  • Lease expiry 2039.
  • Total current rent reserved €58,000 per annum. *

Contact Us

Legal Contact
Ann Kirwan
Vendor's Solicitor
annkirwan132853@web-ppt.bidx1.com
None

Contact Us

Legal Contact
Ann Kirwan
Vendor's Solicitor
annkirwan132853@web-ppt.bidx1.com
None

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Description

The property is arranged over basement and ground floor only to provide 2 x retail units. The property forms part of a wider mixed use building over basement, ground and two upper floor.

Total floor area extending to approximately 658 sq. m (7,083 sq. ft).

Location

  • Limerick is the third largest city in Ireland with a population of some 94,000 people (as of 2016 Census).
  • The city is situated approximately 41km south of Ennis and some 100km north of Cork.
  • The city is well served by the M7 and N20 networks both providing access to and from the city centre.
  • The subject property is situated on Patrick Street, at its junction with Ellen Street.
  • Surrounding occupiers include Boojum, Arthurs Quay Shopping Centre and Regatta.

Property Table

No Accommodation Present Lessee Terms of Tenancy Current Rent Reserved € p.a.
      Total €58,000 p.a.*
9-10 Retail  Limerick City Council

1 year licence from  11.07.2011

Termination clause for Landlord or Tenant with immediate effect

 €12,000 p.a.
11 Retail Individual t/a River Deep, Mountain High

35 year lease from 01.09.2004

IRI terms

Five year upward only rent reviews

 €46,000 p.a.*

*Please note that we have been informed by the Vendor that they are currently not in receipt of rent for No. 11.

VAT

Please refer to Legal Documents

BER Rating

Exempt

BER Details

We have been informed by the Vendor that the property is BER Exempt.

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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 bidders 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.

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