Fraser House, Sexton St North, Thomondgate, Limerick €595,000

Investment Property 633.45 m² / 6818 ft² For Sale C3

Description

The property comprises a two-storey detached commercial building with two ground floor retail
units and restaurant at first floor level.
Unit 1 is currently vacant and comprises a ground floor retail unit fitted out with suspended ceilings incorporating
recessed lighting, air conditioning, painted plastered walls and timber floor covering. The unit is mostly open plan and
includes an office, kitchen, staff toilet and disabled toilet. There is access at the rear to a fire escape.
Unit 2 is occupied by Fine Wines Off License and is fitted out with suspended ceilings incorporating recessed lighting,
air conditioning, painted plastered walls and tiled floors. The unit is open plan with a rear store, office and toilet.
There is a roller shutter door which provides access to the rear yard.
Unit 3 is occupied by a Chinese restaurant trading as Sequoia. The unit is located at first floor level and is accessed by
stairs from a ground floor lobby. The premises is fitted out with painted plastered walls and ceilings, air conditioning, and
a combination of carpet and tiled floor coverings. The accommodation includes reception / bar area, waiting area, restaurant
seating area (approx. 45 covers), fully fitted kitchen, ladies & gents’ toilets, stores and external smoking balcony. There is
access at the rear to a fire escape. King John’s Castle
Externally at ground floor level there is a side entrance which leads to a rear yard extending to approx.
2,755 sq. ft.

BER Details

BER: C3 BER No.800241705 Energy Performance Indicator:711.18 kWh/m²/yr

Accommodation

The property provides the following accommodation measured on a gross internal area basis.

Unit Floor Tenant Sq.ft Sq.m
1 Ground Vacant 1,555.72 144.53
2 Ground Fine Wines 1,810.50 168.20
3 First Sequoia 2,873.77 266.98

The total gross internal floor area of the development is approx. 633.45 sq.m (6,818 sq.ft).
Measurements quoted are for guidance purposes and we recommend that any interested party arranges an independent survey.

TENANCIES
Ground Floor, Unit 1
The premises are occupied by Fine Wines under a 25 year lease from 26th July 2006. The lease provides for a rent review at the end of the tenth year and five yearly rent reviews thereafter. The current rent passing is €15,000 per annum.

Ground Floor, Unit 2
Currently Vacant

First Floor, Unit 3
The premises are occupied by Sequoia under a 21 year lease from 1st October 2008. The lease provides for a rent review at the end of the tenth year and five yearly rent reviews thereafter. The current rent passing is €25,000 per annum.

Phone Mast
We have been advised that there is an annual income of €10,000 per annum by way of a licence agreement.

Directions

Thomondgate is located approx. 2km north of Limerick City Centre. Frazer’s House is located in Thomondgate on the eastern side of Sexton Street North. The property benefits from double frontage onto both Sexton Street North and Belfield Court. Surrounding occupier include Cash 4 Clothes, The House Pizza, Fitzgerald’s Bar. Thomond Park rugby grounds are located nearby to the west and King Johns Castle is located nearby to the east.

Viewing Details

By appointment only