Mullingar Business Park, Mullingar, Co. Westmeath

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€975,000

Investment Property For Sale
12,428 sq. feet (1,155 sq. metres)

Rating:

Contact Name: Thomas Byrne

Selling Agent: Lisney

PSR Licence Number: 001848

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Property Description

The property comprises a high-profile corner development site together with a fully let investment property, currently produc­ing €56,000 p.a., all on 2.1 acres.

The property can be sold in its entirety or in two separate lots.

Situated on Newbrook Road close to the train station and 10 mins walk to the town centre.

Access to the M50 in approximately 40 mins and to Dublin City Centre in 1 hour.

Zoned commercial and offering potential for a wide range of uses including the development of the brownfield site (subject to planning permission).

Title freehold. OSB Group Limited not affected by sale.

Lot 1 is 0.46 Ha (1.1 Acres) and comprises a 12,428 sq ft €L€TMshaped building with a yard and car park. The building is held under a lease dated 20th March 2020 between the vendor and the OSB Group Limited on a repairing and insuring basis for a term of 4 years from the 1st October 2019. The initial rent is €56,000 per annum, rising to €58,000 per annum for the period 1st October 2020 until 30th September 2022 and then rising to €60,000 per annum for the remainder of the term.

The lease rent is exclusive of all other outgoings and is payable quarterly in advance. The use of the premises is for the purposes of kitchen and flooring storage, assembly and showrooms.

Lot 2 is 0.4 Ha (1 Acre) is a landmark brownfield corner development site suited to a range of commercial, showroom, retail, drive through and office uses (subject to planning permission).


The property offers an important development opportunity for investors, builders and owner occupiers to construct a wide range of possible buildings and configurations to suit the demand for commercial space in this location. The location offers accessibility, parking and commercial zoning all within walking distance of the town centre. The subject site is zoned commercial and has been identified by the Planning Authority in the Mullingar Local Area Plan 20142020 for redevelopment. There is a diverse range of uses in the business park with retail, warehousing, manufacturing, employment and light industry, and renders the site extremely valuable in terms of making the case for a variety of redevelopment intentions. Established adjacent retailers include Expert Electrical, Genesis & Mindy Browne Interiors, with other retailers such as Red Earth Lifestyle, DPL Group Hardware and Mullingar Furniture Wholesale. The brownfield site offers a wealth of opportunities in terms of redevelopment potential, particularly given the nature of the zoning and also the wide range of established uses in the business park. An architect€TM impression of 2 potential commercial layouts is shown below.

BER B2/E2

Building 1 E2 BER No. 800739419. EPI: 599.18 kWh/m²/yr 2.46. Building 2 B2 BER No. 800158669. EPI: 705.1 kWh/m²/yr 0.8

Planning

Zoned Commercial under the Mullingar Local Area Plan 2014 to 2020 €oeo provide commercial development which does not need to be located in the Town Centre zone or the retail warehousing zone€¯. This zoning provides for an expansion of existing commercial uses and for new uses such as offices, hotel, showrooms. The subject site offers a wealth of opportunities in terms of redevel­opment potential, particularly given the nature of the zoning and also the wide range of established uses in the business park. Subject to the zoning matrix possible uses for the subject site include: Car sales/showroom, retail warehouse, cré¨che, cinema, doctor/dentist/health centre, educational uses, funeral home, garden centre, R&D, sports facility, manufacturing industry, hotel, light industry, offices, petrol station, restaurant/café, and shops €"neighbourhood/local/major.

BER Details

Energy Performance Indicator: 0.00 kWh/m2/yr

This property was last updated: 9 days ago


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Subject: Investment Property For Sale in Mullingar Business Park, Mullingar,...
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Selling Agent

Lisney
Lisney St. Stephen’s Green House, Earlsfort Terrace, Dublin 2

Contact Name: Thomas Byrne

PSR Licence Number: 001848

Show Number
This Investment Property For Sale located at Mullingar Business Park, Mullingar, Co. Westmeath is currently for sale. This property was last updated by Lisney 9 days ago. Mullingar Business Park, Mullingar, Co. Westmeath is priced as: €975,000 and has 12,428 sq. feet (1,155 sq. metres). View all properties for sale in Mullingar, Co. Westmeath. View investment property for sale in Mullingar, Co. Westmeath.
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