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Crafted by 4Property.

Main Street, Templemore, Co. Tipperary


Price
P.O.A.

Type
Other

Status
For Sale

BER
BER
ON REQUEST

Location
Templemore

Description

FOR SALE BY PUBLIC AUCTION
Heritage Hotel, October 20th at 3pm

A fantastic opportunity of purchasing the Freehold of a beautifully refurbished building with one of Irelands best Tenants, Paddy Power. Also, independent access from the street to two well maintained apartment on the 1st and 2nd floor. Imposing building fronting onto the Towns Square strategically located beside Harrahills Licensed Premises and the Templemore Arms Hotel. An abundance of parking close by is ideal for the betting shop and apartments.
Note: This premises has traded as a successful bookmakers for the past 24 years.

Shop income €18,500 p.a. plus €12,600 p.a. from the two apartments.

Guide Price €240,000 Offering a Gross yield of 12.5%

The Property
Three storey commercial property with napp render plaster finish and slated apex pitch roof, uPVC double glazed windows throughout. The property appears to be in very good condition and structurally sound.

The Shop
Ground Floor long narrow unit with c. 18ft frontage onto Main Street. Total area of shop c. 750ft2 which has been modernised and refurbished to a very high standard. Canteen area, store, and separate bathroom. Other adjoining businesses include the Credit Union, Veterinary Clinic and Fitzpatrick’s Newsagents. This Main Road the N7 has a huge passing trade and Templemore a massive hinterland. Established as a Bookie Shop since 1990.

The Lease
A new 10-year lease was granted from January 1st 2014 and the break clause in 2019 was not exercised. The Current Rent €18,500 per annum on an FRI basis. Quarterly payments in advance. I am informed the shop is trading successfully.

A Strong Covenant
The company ‘Paddy Power’ successfully completed a merger with ‘Sky Bet’ and the entity is now morphed into ‘Flutter Entertainment’, the Worlds Largest online betting company. This merger with the Stars Group has propelled the ‘Paddy Power’ name into America and Canada. It is reported that the turnover of the Company, even during the extraordinary COVID lockdown has increased dramatically in certain areas i.e. Casino growth by 51% and Gaming by 43%. The group recently reported that their Shop presence on High Street will continue to be a very important part of their future!!!!

Commercial Rates
€1,642.23

Services
– Mains water – Mains electricity – Mains sewerage

Heating
The tenant has installed their own modern convector / air conditioning system in the shop.

First Floor apartment 1:
Stairs from street to First floor.
Living / kitchen area with timber floor and fully fitted kitchen with presses etc.
Double bedroom built in unit.
Bathroom – wc, whb, shower
BER Rating: E2 BER No: 108873373
Currently rented from 31st August 2018 at €500 per month, €6,000 per annum

Top Floor Apartment 2
Kitchen / living area –wooden floor, fitted presses is situated on first floor.
Stairs to second floor complete with
Bathroom – wc, whb, electric shower
Bedroom 1 – built in wardrobes
Bedroom 2 – built in wardrobes
BER Rating: F BER No: 108874256
Currently rented from 10th May 2018 at €550 per month, €6,600 per annum
Note: intercom communication

Services
– Mains water – Mains electricity – Mains sewerage

BER Rating: C2 BER No: 800223505

Solicitor having carriage of Sale:
Ben O’ Rafferty Solicitors
18 Merrion Row, Dublin 2
01-6767225

VIEWING STRICTLY BY APPOINTMENT ONLY
WITH SOLE SELLING AGENTS
MATT DUNNE & ASSOC. RICS SCSI
(057) 8623349
Licence Number 002572
These particulars are for guidance only and do not form any part of contract. While care has been taken in their preparation, we do not hold ourselves responsible for any inaccuracies that may occur. They are issued on the understanding that all negotiations will be conducted through this firm.

Accommodation

Notice
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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