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FOR SALE BY PRIVATE TREATY(TENANTS NOT AFFECTED)
LIFFEY STREETUPPER
32&33PRIME RETAIL INVESTMENT OPPORTUNITY
LOCATION MAP
HENRY STREET
DEAL AGREED
IN LEGALS
UNDER OFFER
FUN TECH
LUAS
INVESTMENT SUMMARY• Two prime retail investments
situated on Liffey Street Upper, 50m from its intersection with the core shopping district of Henry Street/Mary Street, and adjacent to M&S
• Pedestrian Street which enjoys a high volume of footfall
• No. 32 is occupied by footwear giant Crocs at a passing rent of €67,000 per annum, with parent guarantee
• No. 33 is let to Wax in the City under a new 15 year lease at a passing rent of €65,000 per annum
• Long term asset management potential to amalgamate and/or redevelop.
LOCATIONThe subject properties are situated on the pedestrian area of Liffey Street Upper, directly adjacent M&S and opposite Arnotts’ Liffey Street entrance. The street has strong footfall given its given its immediate vicinity to Henry Street, Mary Street and the Jervis Street and Ilac Shopping Centres which attracted in excess of 300,000 persons each week in 2015.
The area is well serviced by the Luas Red line stop at Jervis Street and in close proximity to O’Connell Street, a major hub for Dublin Bus routes. The Cross City line will add additional permeability to the area.
3233
LIFFEY STREETUPPER
32&33
LIFFEY STREETUPPER
32&33
DESCRIPTIONNo. 32 & 33 are adjoining self-contained mid terrace buildings of traditional construction with red brick façades. The buildings are each two storeys comprising ground and first floor retail / storage accommodation with a common service yard to the rear.
Both units have the benefit of egress to the rear onto a self-contained common service yard which runs along the rear of Units 34 - 37 providing secured access onto Abbey Street Upper.
ACCOMMODATION
UNIT 32 Area Sq M Area Sq Ft
Ground Floor 88.35 951
First Floor 77.11 830
Total 165.46 1,781
UNIT 33 Area Sq M Area Sq Ft
Ground Floor 74.27 799
First Floor 62.31 671
Total 136.58 1,470
*Purchasers should satisfy themselves as to the accuracy of the above floor areas
TENANCY
Unit Tenant Lease Term
Term Commencement
DateBreak Option
Rent Per Annum (excl)
32Crocs Stores Ireland Ltd. t/a Crocs*
10 years 16/04/201216/04/2017
(T) on 6 months notice
€67,000
33Hair Wax-perts Ltd. t/a Wax in the City
15 years 01/02/201631/01/2020 31/01/2025
(T) on 6 months notice
€65,000**
Total €132,000
*Lease Guaranteed by Crocs Europe B.V. **This is the headline rent. Rent steps and rent free will be underwritten by the vendor.
NO. 33
was recently let to Wax in the City and will be the brands second Irish store. The unit provides retail accommodation at ground floor together with a small store to the rear whilst the first floor is in retail use.
Wax in the City shop front is provided for indicative purposes only.
NO. 32
is occupied by footwear giant Crocs and is their only store in Ireland. The unit provides retail accommodation at ground floor together with a small store to the rear whilst the first floor is retail use.
Disclaimer: These particulars are issued by Bannon on the understanding that any negotiations relating to the property are conducted through them. While every care is taken in preparing them, Bannon, for themselves and for the Vendor/lessor whose agents they are, give notice that: (1) The particulars are set out as a general outline for guiding potential purchasers/tenants and do not constitute any part of an offer or contract. (2) Any representation including description, dimensions, references to condition, permissions or licences for uses or occupation, access and any other details are given in good faith and are believed to be correct, but any intending purchaser or tenant should not rely on them as statements or representations of fact but must satisfy themselves (at their own expense) as to their correctness. (3) Bannon nor any of its employees have any authority to make or give any representation or warranty in relation to the property
t +3535 1 845 9925e [email protected] www.avalanchedesign.ie
Brochure design by
TITLEFreehold / Long Leasehold.
VATVAT treatment will be Transfer of Business relief.
SOLICITORS
Nicola Byrne Senior Associate Tel: 01 614 5237 Email: [email protected]
BER
VIEWINGStrictly by prior arrangement with the sole selling agent.
PRICEOn application.
CONTACT DETAILSFor further information, please contact the sole selling agent:
Alex PattersonAssociate Director Tel: +353 1 6477946 [email protected]
PSRA NO: 001830-002397
Rebecca JonesSurveyor Tel: +353 1 6477919 [email protected]
PSRA NO: 001830-006056
O’Connell Street
O’Connell Bridge
Henry Street
Haypenny Bridge
Mary Street
Liffey Street UpperDebenhams
Arnotts
PenneysJervis StreetShopping Centre Ilac Shopping Centre
R IVER L I F FEY
LIFFEY STREETUPPER
32&33
