Friday 28 July 2017

Bray property offers 10.8pc yield with room to improve

Colliers are quoting €350,000 for Saint Bricin's House on Herbert Road, Bray, Co Wicklow.
Colliers are quoting €350,000 for Saint Bricin's House on Herbert Road, Bray, Co Wicklow.
Ronald Quinlan

Ronald Quinlan

Colliers International are quoting €350,000 for Saint Bricin's House on Herbert Road, Bray, Co Wicklow.

Located 100m from the town's main street, the property comprises of a two storey semi-detached building with cut stone granite façade red brick window surrounds, quoins and string courses. The building dates from the late 18th century and was formerly in use as a dispensary.

St Bricin's extends to 2,229 sq ft over two storeys and is in office use, with ancillary accommodation including a kitchen, bathrooms and shower room. The current layout would allow, subject to planning permission, to residential conversion.

There is a tarmac-covered forecourt to the front and garden to the rear which is also tarmac-covered for car parking. The property is currently occupied by Youthspin Information Service on a 10-year lease from December 9, 2008 at a rent of €39,500pa with just over two years unexpired. The €350,000 asking price equates to a net initial yield of 10.8pc after deducting standard purchaser's costs.

Sunday Independent

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