Excellent mixed use investment opportunity in the heart of Greystones Village extending to approx. 1,091.60 sq m (11,750 sq ft).
Fully occupied providing a mix of retail and office units totalling to 16 tenants.
Currently producing a total annual rental income of €314,000 pa
The property provides significant development potential with planning permission previously granted for a mixed-use office and retail scheme along with 4 three bedroom apartments.
Guide price of €5,500,000 which equates to 5.19% after deduction of standard purchasers’ costs.
Greystones is an attractive and popular coastal town in Co. Wicklow well regarded for its scenery, beaches and views of Bray Head, Howth Head and other local coastal towns. The town is located approximately 42km south east of Dublin City Centre and is accessed via the main N11 route from Dublin to Rosslare.
Greystones is served by the Dublin Area Rapid Transit (DART) a frequent commuter rail connection to Dublin City Centre which is widely availed of by commuters and shoppers. In addition to commuter routes to Wicklow and Wexford, Greystones is a growing and thriving town, which along with the neighbouring Delgany Village and other surrounding areas has a population of approximately 18,000 residents. Despite a constantly increasing population Greystones has maintained its village feel and atmosphere.
Watson and Johnson House is located on Mill Road which along with Church Road is the main retail thoroughfare in the town, with the property also located directly opposite Burnaby Park. The property occupies a very high profile position and benefits from extensive frontage onto Mill Road and is clearly visible from both directions either coming in or out of Greystones Village towards Delgany.
The property is well serviced in the area situated approx. 50 metres from Greystones Dart Station which provides routes to the Dublin suburbs and Dublin City Centre along with Wexford and Rosslare. There are also frequent Dublin Bus routes to Dublin along with an Aircoach service providing a direct link to Dublin Airport
Watson & Johnson Centre comprises a two storey modern development which comprises a mix of retail and office uses. The entire property extends to approximately 1,091.60 sq m (11,750 sq ft). It benefits from extensive frontage onto Mill Road and lines the train line directly to the rear.
The centre provides retail accommodation on the ground level tenants include Apache Pizza, Escape Boutique, Zero One Salon, Vincent’s and Brereton Carpets. The first floor is accessed off Mill Road and let to a number of separate occupiers such as a Solicitors practice and yoga studio. The property is fully occupied and very good condition throughout.
It also comprises a substantial car park to the side which provides approx. 26 surface car spaces. This provides development potential subject to planning permission and part of same was formerly utilised as a petrol station.
Floor Area Sq m2 Area Sqft
Ground 774m2 8,331sq ft
First 318m2 3,422sq ft
Total 1,091m2 11,750sq ft
The property is fully let producing an income of €314,000 per annum. Full tenancy schedule available on request.
There was previous planning permission granted for alterations and new commercial extension to the existing centre at both ground and first floor levels comprising; new ground floor retail area c. 141 sq m, new first floor offices area, c. 292 sq m, change of use from retail to office for part of existing first floor, c. 138 sq m, alterations to the existing elevations along with provision for 4 No. new apartments external balconies and access routes all at a new second floor level, comprising
1 No. 3 bed apt at 141 sq m
1 No. 3 bed apt at 138 sq m
1 No. 3 bed at 124 sq m
1 No. 3 bed apt & study at 177 sq m.
Further details available on Wicklow County Council website reference number 06/4874.
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