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Gruagorm House, Upper Main Street, Donegal Town




For Sale


500000




(TENANTS NOT AFFECTED BY SALE) The ground floor & lower ground floor of this modern mixed use building form this exciting sale. Both floors are currently occupied by quality tenants & this property offers excellent potential as an investment property. There are also 8 car park spaces included in the sale.


The property being offered for sale comprises two floors of commercial accommodation within an overall property of commercial & residential accommodation. Both floors included in this sale are currently occupied by strong tenants making this an excellent investment opportunity. Also included in the sale are 8 car park spaces. Four of these spaces are located adjacent to the building & the remaining four spaces are in the car park close to the building. ZONING: The property is set in an area zoned ‘town centre’ under the Donegal County Development Plan 2012-2018. Ground Floor: The ground floor unit is set out as Retail/Banking accommodation extending to approximately 347m2. The accommodation is occupied by Ulster Bank on a 9 year 11 month lease from October 2005, which has now expired. They are currently overholding paying €65,000 per annum. We are advised that the lease for this floor is plus VAT. Lower Ground Floor: The lower ground floor unit is set out as Office accommodation extending to circa 295m2. The HSE Lease was initially from January 2011 – it has never been signed however the yearly rent of €31,150 is currently paid. We are advised that the lease for this floor is inclusive of VAT. The above are net internal floor areas for the properties. It would be up to all potential Purchasers to carry out their own survey to confirm measurements. Tenure The property, we understand, is held in Freehold Title. Management Company Gruagorm Management Co. Ltd Eircode F94 CD7H BER Range E1 – E2. Individual Certificates Available on Request.


Location: The two floors of accommodation included in this sale are part of a substantial property which is set in a prominent location on Upper Main Street in Donegal Town. The property is situated on the corner of Upper Main Street and Water Street. This is a predominantly commercial area within a minutes’ walk of The Diamond in the heart of Donegal Town. Donegal Town is a thriving town circa 64km from Sligo & circa 50km from Letterkenny. It has a population of 2,618 (per Census 2016). It is accessed from Sligo via the N15 & from Derry/Letterkenny via the N13. It is the largest town in South Donegal. Donegal Town benefits from strong tourism visitor levels & being located along the Wild Atlantic Way, this has been further enhanced in recent years.





Negotiator Details


Negotiator:

Shane Flanagan

Email:

Contact Negotiator

Contact Number:

071 9159222 or 087 2461062

E-mail:



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