PRIME TOWN CENTRE INVESTMENT (TENANT NOT AFFECTED)
FULLY LET MIXED USE BUILDING COMPRISING OF GROUND FLOOR RESTAURANT & TAKE AWAY WITH 3 NO. 2 BEDROOM APT. OVERHEAD
The subject property is located in the centre of Abbeyleix Town just off Market Square. The property is superbly located within easy walking distance of all amenities in Abbeyleix. Abbeyleix is a medium sized town located 14km from Portlaoise on the old N8 Dublin to Cork National Primary Route. Abbeyleix has a thriving local community including shops, pubs, Hotel and restaurants and plenty of amenities to include Golf, GAA, Soccer, Athy Rowing and Tennis to name a few. Abbeyleix has a district hospital in the town, two schools and a vocational centre along with other essential services and facilities.
The property is a short distance from the M7 Motorway at Portlaoise and accessible to a range of locations including:
Dublin City Centre: 100km
The property comprises a modern purpose built two storey mixed use building constructed in c. 2006. The building provides a ground floor commercial unit currently trading as a Chinese Restaurant & Take away with 3 no. of 2 bedrooms apartments overhead. The property has the benefit of 7 car parking spaces to the rear.
The Chinese Restaurant is fully fitted out in accordance with its use and provides take away, restaurant, toilet block, kitchen, cold stores, storage and staff w.c.
The 3 apartments with their own separate access generally provide kitchen/dining/sitting room, 2 bedrooms and family bathroom.
Ground Floor – Chinese Restaurant:
Property is let on a 10 year lease from 1st January 2018 to Brilliant Castle Ltd t/a Jade Palace Chinese Restaurant. The passing rent is €28,800 per annum. The tenant is liable to pay the commercial rates.
First Floor - 3 Apartments:
The 3 apartments are let on an informal basis currently generating an income of €12,000 per annum for the entire. The tenants have been in situ since 2017.
Chinese Restaurant: €2,203.698
The property is located within an area zoned “Town Centre” under the Laois County Development Plan 2017 – 2023.
Chinese Restaurant: D1 (800651671)
Apartment 1: E2 (111352316)
Apartment 2: F (111352340)
Apartment 3: E2 (111352399)
• Generating a rental income of €40,800 per annum.
• Potential to increase rental income.
• Property is fully let with benefit of 7 car parking spaces to the rear.
• Town Centre Location
BER: D1 BER No.800651671
Chinese Restaurant: 172.70 sq.m. (1,859 sq.ft.)
Apartment 1: 61.25 sq.m. (659 sq.ft.)
Apartment 2: 54.65 sq.m. (588 sq.ft.)
Apartment 3: 67.50 sq.m. (727 sq.ft.)