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091 564 212

COMMERCIAL SALES

over 35 years of business experience

40 Merchants Quay, Waterford City, Waterford
Sold E1

Investment Property 254 m² / 2734 ft²

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Description

FOR SALE BY PUBLIC AUCTION ON FRIDAY 27th SEPTEMBER, 2019 AT 12.00 NOON IN THE HARBOUR HOTEL, NEW DOCK ROAD, GALWAY

OPEN VIEWING FRIDAY 13TH SEPTEMBER 10.00AM - 10.30AM & TUESDAY 17TH SEPTEMBER 5.30 P.M. - 6.00 P.M.

INVESTMENT OPPORTUNITY WITH VALUE ADD POTENTIAL - TENANT NOT AFFECTED

No. 40 presents an attractive investment opportunity in a prime position overlooking Merchants Quay in Waterford City Centre. The building is situated on a busy thoroughfare with high footfall and high visibility. Being adjacent to the Merchants Quay car park, a Bus Terminus, and being within walking distance of the train at Plunkett station, the convenience of the location is second to none for business customers, staff, and residents alike.

The building, currently let to a restaurant business is set out over 4 floors and an attic room. As currently configured, the ground floor comprises a restaurant seating area together with kitchen, WC and ancillary spaces. The first floor is set out with restaurant seating to the front and WC and storage facilities to the rear. The second and third floors comprise of 3 primary rooms on each floor that are in need of upgrade and currently used as storage facilities.

There is potential to add significant value in the future by enhancing the usability of the upper floors. In addition to the value add potential of the current layout, there may be potential to provide the upper floors with independent access for commercial or residential use - subject to planning permission and following reconfiguration of the entrance. The building itself is a protected structure.

Ground Floor – 15.0m x 5.0m including
- Seated area 9.5m x 3.5m (26 seats)
- Kitchen 6.0m x 4.5m

First Floor – 14.0m x 5.0m including
- Seated area 6.0 x 5.0 (20 seats)
- 2 x wc’s
- Storage / utility areas

Second Floor – 11.0m x 5.0m
- 3 primary rooms in need of upgrade

Third Floor – 11.0 x 5.0m
- 3 primary rooms in need of upgrade

Attic Floor – 4.4m x 2.9m

The building is currently let to Sheehan’s Steak and Seafood restaurant on a 5 year lease (€15,000 p.a.) w.e.f. 2019.


(Please Note - No clarification has been given in relation to contents)

SOLICITOR WITH CARRIAGE OF SALE: Please request all legal documents through selling agents O'Donnellan & Joyce at 091-564212

Features

Investment opportunity with value add potential
Potential to enhance the usability of the upper floors
Busy thoroughfare with high footfall and high visibility
Convenient location with parking and public transport
Currently let on a 5 year lease at €15,000 p.a.
Tenant not affected

BER Details

BER: E1 BER No.800685729 Energy Performance Indicator:625.03 kWh/m²/yr

Viewing Details

NOTE: These particulars are not to be considered a formal offer. They are for information only and give a general idea of the property. They are not to be taken as forming any part of a resulting contract, nor to be relied upon as statements or representations of fact. Whilst every care is taken in their preparation, neither O\'Donnellan & Joyce Auctioneers nor the vendor accept any liability as to their accuracy. Intending purchasers must satisfy themselves by personal inspection or otherwise as to the correctness of these particulars. No person in the employment of O\'Donnellan & Joyce Auctioneers has any authority to make or give any representation or warranty whatever in relation to this property.

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