Description
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floorplan Floorplan
Investment Summary
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Investment
581 sq m
  • Income Producing Mixed Use Investment
  • Superbly located on Rathmines Road Lower, Dublin 6.
  • Ground floor retail is fully let on a 25-year lease from 12th May 2006
  • Trading as Spar with a full BGW parent guarantee in place for the term of the lease
  • 9 fully let residential units at 1st and 2nd floor levels
  • Additional income from prime profile Advertisement Board
  • Total annual income of €284,780
  • Tenants not Affected
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Location

The property is well located on Rathmines Road Lower, in the heart of Rathmines Village along one of the main arterial routes leading into Dublin City Centre. Just 2km from St Stephens Green, Rathmines is one of south Dublin’s city centres best serviced and commercially vibrant villages. The area is well established which is evidenced by large supermarket occupiers such as Dunnes, Tesco and Aldi located here, given its large catchment area.

Given its vast array of shops and proximity to the city centre, Rathmines is a sought-after residential location. The excellent location profile provides a host of amenities for local residents while providing ease of access to Dublin city’s employment centres and educational institutions. The property is surrounded by bars, restaurants, cafés, and convenience stores which line the streets of the village. Other draws to the area include the Swan Shopping Centre, the Stella Theatre, The Swan Leisure Centre and the Leinster Cricket Club.

The property is located on the Quality Bus Corridor and enjoys excellent connectivity due to the large number of bus routes that service Rathmines. These include the 14, 15, 15A, 15B, 18, 49N, 65, 65B and 142 routes. Furthermore, light rail access is provided by the LUAS with the Charlemont and Rathmines Stations located just 500m and 850m away providing easy access to the City Centre and surrounding suburbs.

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Description

Extending to approx. 6,487 sq.ft, 23-25 Rathmines Road Lower comprises a fully let, mixed-use investment property made up of a ground floor retail unit and nine residential units above.

Spar occupies the entire ground floor, with a large retail/grocery area with storage to the back and side access for deliveries. The retail unit is let on a 25-year term from 12th May 2006 with a fixed annual rent roll of €75,000 per annum to lease expiry. Furthermore, there is a Parent Company guarantee provided by BWG for the remainder of the term. BWG Foods is a leading and long-established retail and wholesale business. It owns and operates the SPAR, EUROSPAR, MACE, Londis and XL brands in the Republic of Ireland, working in partnership with independent retailers with more than 1,000 stores serving local communities right across the country.

Above the retail unit there are nine residential units. At first floor there are two one-bedroom flats and two studios. A one-bed is located at first floor return and four three-bed duplexes make up the second floor. Total income from the residential units equates to €183,780 per annum.

Additional income is generated in the form of an advertising sign to the side of the property, on the gable wall, with a licence fee of €26,000 per annum.

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Schedule of Accomodation
Unit  Tenant / Type Lease Start Date Term Size (Sq.M.)
Approx.
Rent (Annual)
Retail Harrisvale Ltd /
SPAR
12/05/2006 25 Years 280 € 75,000
Sign Side Signage 01/03/2021 12 months € 26,000
Flat 2 1 -Bed 26/06/2021 12 months 20 € 14,400
Flat 3 1 -Bed 23/12/2021 12 months 24 € 15,600
Flat 4 Bedsit 14/07/2021 12 months 15.5 € 12,600
Flat 5 1 -Bed 01/09/2021 12 months 26.6 € 17,400
Flat 6 1 -Bed 25/03/2018 12 months 26.6 € 16,800
Flat 7 3 – Bed 6/6/2022 12 months 50 € 26,940
Flat 8 3 – Bed 10/08/2020 12 months 50 € 26,400
Flat 9 3 – Bed 23/01/2022 12 months 50 € 26,640
Flat 10 3 – Bed 18/07/2020 12 months 60 € 27,000
Total Flats 323
 
Total 602.7 € 284,780
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23-25

1 FP Ground Shop_Floor Plan 1 FP Ground_retouch 2 FP Return_retouch 3 FP First_retouch 4 FP Second_retouch 5 FP Second (Duplex)_retouch

23-25 Rathmines Road Lower,
Dublin 6

For Sale by Auction

(unless previously sold)

Guiding in excess of €3,500,000

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