Units 1-5 Shean Lower, Blarney, Co. Cork
INVESTMENT OPPORTUNITY WITH ASSET MANAGEMENT POTENTIAL.
TENANT NOT AFFECTED
A substantial commercial/ retail warehouse development which extends to some 25,000 sq. ft approx. on a private site of 0.8 acres/ 0.32 ha approx. Units 2-5 are currently in use as Gaelscoil Mhuscraunder a long term lease.
Unit 1, which was formerly operating as the Blarney DIY Centre, is vacant and affords a new purchaser an owner occupier opportunity or an asset management opportunity to increase revenues.
Gaelscoil Mhuscrahas been in existence since 2003 and has had a presence at this location since 2006.
The current rent passing is 90,000 per annum exclusive under a 10 year lease from December 2015.
Tenant will remain unaffected by the sale. Situated at the eastern approach to the picturesque village of Blarney off the R617 which connects Blarney with the N20 Cork\"Limerick Road. Cork city is located approx. 9 km to the south east and Blarney Village is immediately adjacent to the west.
Description: The property comprises a substantial commercial building on a private site which is currently part occupied under a long term lease to Gaelscoil Mhuscra, a co-educational Irish-medium primary school.
The balance of the property is available with vacant possession and was formerly in use as the Blarney DIY Centre. Internally the units are laid out with concrete ground and first floors.
The school section is purposely fitted with a mixture of reception, classrooms, staff rooms, student library, computer room facilities, multi-purpose hall, toilet facilities, etc. Car parking is available on site with an abundance of circulation space in the secure yard.
Tenancy: Currently occupied by Gaelscoil Mhuscra with a passing rent of 90,000 per annum exclusive under a 10 Year lease from 20th December 2015, with a rent review at the expiry of Year 5 (December 2020) and a tenant only break option at the end of Year 7 (Dec 2022) and Year 9 (Dec 2024), subject to strict conditions and penalties.
Tenant will remain unaffected by the sale.
Description Sq Ft Approx. Sq M Approx.
Unit 1 - Former DIY 9,332 867
Units 2-5 - Gaelscoil Mhuscra 15,672 1,456
Total Floor Area 25,004 2,323
Rates: Approx. 26,000 per annum (2018).
Viewing: Strictly by prior appointment with Sole Agents;
Rob Coughlan Or Brian Olden