Thursday 22 March 2018

Properties by the Liffey on market with €2.5m tag

Donal Buckley

What could have been a developer's dream Dublin development property has come on the market at Mill Lane, Palmerstown, Dublin 20.

With its mix of Liffeyside views and quaint cottages, it would create an attractive old world ambience which would add character to a new development on the surrounding 10.4 acres.

Agents Lisney are quoting €2.25m for the whole complex which is generating €157,600 in rental income.

It is being sold by Sun Chemical Ink Ltd. which is currently seeking alternative premises more suited to their current market and meanwhile are planning to remain in a building of 2,339sqm on the site at a rent of €50,000 a year on a five-year lease with rolling breaks.

Two of the four commercial tenants on the site are The Canoe Centre and Mill Studios and with its extensive river frontage it has potential for a range of leisure activities.

Currently some of the 11 houses and various commercial buildings are generating €107,600 in rental income. Some of the residents are long term tenants and the sale of the complex is subject to their current tenancies.

The complex is located beside the River Liffey in the heart of the Strawberry Beds in the Liffey Valley Special Amenity Area. Immediately to the west is Stewarts Hospital complex which caters for people with special needs.

Agent Ross Shorten of Lisney has set July 18 as the closing date for offers for one or more lots.

As well as lot one, the entire complex on 10.4 acres, other possible lots include lot two - the 2,339sqm industrial buildings on 2.8 acres currently occupied by Sun Chemical Ltd.

Lot three, Rose Cottage, extends to 120sqm of floor area and, while in need of substantial refurbishment, is offered with vacant possession.

Lot Four is No. 1 The Terrace, an attractive 46sqm cottage with good side garden which is available with vacant possession subject to notice period.

Lot Five comprises seven houses on one acre, 2-8 The Terrace, including additional land opposite for services. The houses are all occupied by long-term tenants and the property is a single lot offered subject to and with the benefit of these tenancies.

Lot Six is a house at Mill Lane with a 0.6 acre site which is occupied by a long-term tenant and is offered for sale subject to and with the benefit of this tenancy.

The adjoining site was previously occupied by derelict cottages.

Lot Seven, Rivermount House on 0.8 acres, has been occupied by an office tenant for ten years and comprises a two storey over basement building of 250sqm with frontage to the River Liffey.

Lot Eight is -- The Mill complex on 4.93 acres comprising: a fire damaged mill with a preservation order; a second mill let to a building contractor; Williams Cottage commercial building let to Mill Studios; a yard and buildings let to a steel contractor and commercial building let to the Canoe Centre.

The property is situated in the Liffey Valley Special Amenity Area and is convenient to the M50.

Indo Property

Business Newsletter

Read the leading stories from the world of Business.

Also in Business