Canon Row & Kennedy Road, Navan, Co Meath

Property Description

- Excellent high profile investment opportunity.

- Income producing asset with potential to increase return.

- Passing rent of €80,500 producing an initial yield of 8.4%.

- A.M.V. €950,000

*Tenants not affected*

 

This property provides an excellent opportunity to acquire an income producing asset in a high profile location with frontage to two streets, Kennedy Plaza on Kennedy Road and Canon Row.

The property comprises two buildings with a shared yard. Canon Row is a self contained, terraced, two storey building extending to 341 square metres (3,670 square foot). It is currently let to Prosper Meath. The building on Kennedy Road is a two-story, semi-detached, mix used retail and office building extending to approximately 400 square metres (4,305 square foot).

There is mix of tenancies with the ground floor retail units let to the NCBI and EBS, one first floor office let to Louth Meath Drug Taskforce and the other office let to Meath Women’s Aid Housing Association CLG. The tenants are on a mix of terms with some on periodic tenancies. The properties are in good condition and have the potential to increase the rental income.

 

Services 

Mains electricity, water & sewerage

 

 

BER details

C3-            No. 800177644

D2 -           No. 800177669

C3 -           No. 800186611

C2 -           No. 800186629

 

Title

Freehold

 

Tenancy schedule

Available on request

 

 

Location

Navan is the county town of County Meath. It is a large commuter town of Dublin and has a population in the region of 31,689 people (CSO,2016), making it the fifth largest town after Drogheda, Dundalk, Swords and Bray in Ireland. Navan is located 50km north-west of Dublin city centre and is easily accessed via Junctions 8 & 9 of the M3 Motorway.

Navan is well serviced by shopping centres, business parks, major banks, sporting clubs, racecourse, and a variety of local and international traders.

Given Navan’s close proximity to Dublin and good motorway access, the town is home to a variety of larger employers including Meath County Council, Lir Chocolates, Generali Pan Europe, eComm Merchant Solutions and Welch Allyn (US medical devices). These businesses are located in the IDA Business Park which is located in Johnstown, south east of Navan Town.

Public transport in Navan is currently via a number of Bus Eireann routes, the principal service being the 109 (Dublin-Navan-Cavan) with other services including the 109A (Navan-Dublin Airport-DCU), 70 (Navan to Athlone/Galway and the 188 (Drogheda-Navan-Trim). Bus Eireann also runs three services from the town centre to a number of the suburbs with a bus stop located to the front of the property.

Property Location