Price on Application - For Sale|1,466 sqm approx
Excellent investment opportunity located in Rochfortbridge, Co. Westmeath. The Rochfortbridge Village Centre is anchored by Eurospar and comprises 5 ground floor retail units, créche, a public house and 8 apartments. Eurospar extends to approximately 1,002 sq m (10,785 sq ft) with other occupiers including McTiernans Pharmacy, Bridge Bookmakers and Bagnalls Pub. The development is set over three blocks with the public house and the pharmacy with one apartment located in two separate blocks opposite the main Village Centre. There are 8 apartments located on the first floors of two of the blocks comprising one 3 bed apartment, five 2 bed apartments and two 1 bed apartments. These are accessed through separate accesses at the front of the development. There are over 50 car spaces to the front and rear of the development. The current rent receivable is €142,048 per annum with three retail units and six apartments vacant. The Eurospar lease is guaranteed for its duration by BWG Group. This investment opportunity represents an attractive price with extensive asset management opportunities and opportunity to increase the current rent receivable through the letting of the vacant units. The development is also capable of being split and disposed of in separate parts by a purchaser. We are seeking offers in excess of €1,500,000 equating to a Net Initial Yield of 9.07%, assuming standard purchasers costs of 4.46%.