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Additional InformationREA T & J Gavigan are delighted to present to the Open Market a prime multi-unit investment opportunity. Units 4, 5 & 6 are ground floor commercial units with tenants in situ together with 5 residential apartments over first & second floors. The subject property is surrounded by many successful business and is situated in heart of Navan town centre. The property identified under the following folio numbers: MH23588F, MH16242F, MH23801F (MH2684L) comprises of a three storey three bay mid-terrace property with street frontage of c. 15.35 m / c. 50 foot. The site area extends to over c. 4,000 sq. ft.
The subject retail units are accessed from the main street and the apartments are accessed via alley way to the left and by stairs from the front of Watergate Street. The condition of the units are in average but well-maintained condition for a property of its age.
Ground Floor Retail:
Unit No: Size: Tenant: Rent Per Annum:
No. 4 c. 104 m² Little Sicily €15,000 (Year 1 & 2 €12,000)
No. 5 c. 95 m² John Joyce €10,200
No. 6 c. 98 m² Callan & Hart €6,000
First Floor Offices:
Unit No: Tenant: Rent Per Annum:
No. 5 Charles Gilsenan Dental €4,800 per annum
No. 6 John Joyce (storage)
First & Second Floor Apartments:
Apt. No: Size: Tenanted: Market Rent Per Annum:
1 1 bedroom Vacant €6,000
2 1 bedroom Vacant €6,000
3A 2 bedroom Vacant €8,400
4 1 bedroom Occupied €4,160 current rent
5 1 bedroom Vacant €6,000 (reinstated to a 1 bed, not featured on the floorplan)
Present Annual Rental Income: €37,160 per annum
Full Occupancy: €63,560 per annum
The premises are located on the left hand side of Watergate Street, a one way street in the town centre. It is located in close proximity to Bank of Ireland and AIB. The traditional retail focus of the town is on Trimgate St., Ludlow St., and Watergate St. and these streets contain a range of commercial uses, including convenience, retail, offices, public houses, restaurants, night clubs, financial services and personal services. An excellent catchment area, amongst such a high density commercial neighbourhood.
Navan town is the principal town of Co. Meath and is located on the River Boyne, approx. 15km from Trim,16km from Kells and 45km from Dublin City.
The subject property is located in an area which is currently zoned under objective B1 to protect and enhance the special physical and social character of existing town and village centres.
Please note we have not tested any apparatus, fixtures, fittings, or services. Interested parties must undertake their own investigation into the working order of these items. All measurements are approximate and photographs provided for guidance only.
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