REA

15 & 15A West Street, Drogheda, Louth €1,200,000

EXEMPT   748 m²

Features

  • • Landmark town centre property situated right in the heart of what’s considered to be Drogheda’s absolute prime retail pitch!
  • • Ground floor commercial premises fully let / owner occupied with obvious potential to create additional rental income at its upper floor levels.
  • • Opportunity to secure a trophy town centre property with the benefit of a lucrative rental income and with obvious prospects to increase in the short term.
  • • Potential to provide residential apartments at upper floors (SPP) in a buoyant letting market.

Description

Landmark Town Centre Commercial Investment Opportunity (Tenants Not Affected)

Occupying a strategic town centre position, this property forms an integral part of the streetscape of West Street given its attractive façade and generous proportions. At ground floor level, Kierans Deli has been an institution within the town for over 100 years spanning three generations of the Kierans family. With limestone shopfront and feature arched display window and door, its open plan delicatessen stretches back to connect to kitchen and preparation areas to the rear. Across the lane at No 15, the Fone Connection shop is laid out to provide bright modern retail space interconnected with rear offices and stores. There is an opportunity to extend the existing retail space. A little down the lane, there is an attractive restaurant complete with feature conservatory space and outside seating occupied by The Bare Food Company. Kierans Lane is an important conduit for pedestrian traffic connecting West Street to the Town Centre Shopping Centre car park and further to Dyer Street.

The upper floors at No 15A are accessed, at present, via an internal stair within the shop premises. Access to the upper floors at No 15 is by means of an independent entrance on to West Street. For redevelopment purposes, the upper floors could be potentially be combined with additional access provided on to Kierans Lane, subject to securing the necessary planning permission.

Location:
Drogheda, the largest town in Ireland, occupies a strategic position on the M1 Motorway along the important Dublin – Belfast economic corridor. The town, itself, continues to grow in population terms with a large number of new homes schemes having been built / presently under construction within the Greater Drogheda area. West Street continues to serve as the town’s principal retail and commercial hub. Nos 15 & 15A West Street have an enviable position right in the very heart of what’s considered locally to be West Street’s absolute prime trading pitch.

BER Details

BER: Exempt

Accommodation

ACCOMMODATION & TENANCY / OCCUPANCY

The commercial units are fully let / occupied as follows whilst the upper floors are vacant:

Demised Premises: 15 West Street
Floor Area: 109.7 sqm / 1,181 sq ft
Tenant: Zhong Feng Chen t/a Fone Connection
Leases: 5 years from 22nd January 2018
Annual Rental Income: €40,000 pa

Demised Premises: 15A West Street
Floor Area: 107.1 sqm /1,153 sq ft
Tenant: Kierans Delicatessen (owner occupied)
Leases: N/A
Annual Rental Income: Estimated Rental Value €40,000 pa

Demised Premises: Rear 15A West Street / Kierans Lane
Floor Area: 129.7 sqm / 1,396 sq ft
Tenant: The Bare Food Company Ltd
Leases: 20 years from 1st July 2015
Annual Rental Income: €23,000 pa

Demised Premises: Kierans Laneway
Floor Area:
Tenant: Melcorpo Ltd (licensee)
Leases: Held under annual licence
Annual Rental Income: €7,000 pa

Demised Premises: Upper Floor 1
Floor Area: 166.7 sqm / 1,795 sq ft
Tenant: Vacant
Leases: N/A
Annual Rental Income:

Demised Premises: Upper Floor 2
Floor Area: 191.5 sqm / 2,062 sq ft
Tenant: Vacant
Leases: N/A
Annual Rental Income:

Demised Premises: Upper Floor 3
Floor Area: 43.3 sqm / 466 sq ft
Tenant: Vacant
Leases: N/A
Annual Rental Income:

TITLE
This property is held Freehold.

ZONING
Under the terms of the current Drogheda Development Plan, this property is zoned Town Centre: “To protect and enhance the special physical and social character of the existing town centre and to provide for new and improved town centre facilities and uses”.

Viewing Details

Strictly by appointment with the sole selling agents, REA O’Brien Collins

Property Agent

  • REA O'Brien Collins
  • 47 John Street, Drogheda, Co. Louth
  • 041 987 5444
  • PSRA Licence No: 003766 /
Request Details

Our Latest Properties