independent

Saturday 17 August 2019

€1.4m offers for Hickey's building

Quinn Agnew are bringing to the market a unique opportunity to acquire a prime investment at 10/11 West Street Drogheda.

This property extends to c. 505.4 sq.m.(6,650.ft.), The ground floor shop, rear stock rooms and yard areas are let to Hickey's Pharmacy Limited under a Lease for a term of 15 years from the 20th of February 2019 at a rental of €130,000 p.a.

Hickey's Pharmacy Limited is the holding company for the group which has been trading since 1995 and employs over 350 people in 37 stores throughout the country with a support office in Dublin.

Hickeys are responsible for all outgoings and repair and maintenance of the demise and contribute pro rata to the repair of the roof over the offices and insurance of the building.

Manus Agnew suggests that the property presents potential investors the opportunity of Secure tenant for term of c. 15 years with an immediate opportunity to increase the rental income by letting the vacant self-contained offices on the upper floor.

Quinn Agnew are seeking offers in excess of €1.45m for the property, which would reflect an initial yield of c.8.3% and reversionary of c.9% when fully let. Phone 01 6623113 Email: magnew@quinnagnew.ie www.quinnagnew.ie

Drogheda Independent

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