Investment Opportunity – SOLD

IMAGE%2001IMAGE%2007We have been recently been appointed as sole selling agents for a multi use building located in Shannon Town Centre. This strategically located building has 40 residential apartments and commercial space on the ground floor.

Kincora Hall is a purpose built mixed use development of 40 apartments and commercial units situated in Shannon Town Centre.
The property occupies a prominent site in the town centre and is adjacent to the Skycourt Shopping centre which is anchored by Dunnes Stores. Other occupiers in the Skycourt complex include Supermacs, Shannon Knights Public House, Subway, Lidl and Lifestyle Sports. 

There are 20 no. 2 bed apartments and 20 no. 3 bed apartments in the residential part of the building which is laid out over 5 floors. 
Each floor of the building measures approximately 588 Sq Mtrs (6,329 Sq Ft) and The 3 bedroom apartments measure approximately 72 Sq Mtrs each and the 2 bedroom apartments measure approx 60 Sq Mtrs each.

There is lift access to each floor.

The commercial units occupy the ground floor of the property and the overall amount of commercial space in the building totals 588 Sq Mtrs (6,329) sq ft approx.

The existing occupiers include a fast food outlet, hairdresser and church group. 

Kincora Hall presents an investment opportunity which produced a gross rental income of €176,000 in 2013 (Residential and commercial rents combined)
The property is not currently operating at 100% occupancy so there is future potential to generate a higher return. 

There are no service charges in the building as it has been held by one entity since construction.

Ample surface car parking within the bounds of the site.

Please note the rental income from the property is subject to change as there may be changes in the tenancies during the sales period. Note also that the tenants are not affected.

The building is being offered for sale as it stands. 

The original year of construction is estimated to be c.1969 and we are advised that refurbishment works were carried out in 2008. 

Please note the BER ratings for the residential units range from D1 to G 
Full BER details available upon request.

About Shannon Town:

– Shannon Town is located 24 km north east of Limerick City, 18 km south of Ennis and 64 km from Galway.

– Shannon is the second largest town in County Clare and is located on the River Shannon and is bordered on the west by Shannon International Airport and Shannon Free Zone. 

– On the north it is bordered by some industrial developments and to the east by the N18, the national primary route which links Limerick and Ennis. 

– Shannon is Irelands only created town, being built in the 1960s.

– Shannon is a very important industrial location, as well as being the site of the worlds first duty free airport. There are currently over 100 companies within the Shannon Free Zone. 

– As per the Shannon Development web site there are over 6,500 people employed in the Shannon Area.