3 Cecil Street, Limerick City, Limerick

€315,000

Beds
Price	€315,000
Property Type	Investment Property
Size	192 meters²
Energy Rating	BER-Exempt
Refreshed on	Apr 16, 2025
Eircode	V94X679
Group Name	Property Partners de Courcy O'Dwyer
Sales License Number	002371

Description

Limerick is the capital of the Mid-West region and is located approximately 210 km South West of Dublin City and 100 km North East of Cork City. The subject property is located on Cecil Street in the centre of Limerick city just off O’Connell Street, Limerick’s main thoroughfare. Cecil Street and the surrounding area comprise mainly of Georgian period buildings with adjoining occupiers including offices, retail, bars, coffee shops etc. No. 3 comprises of a mid-terraced four storey over basement property. The layout of the subject property as it currently stands comprises of ground floor and basement commercial tenants with first, second and third floors laid out as residential. The current income from the property is c. €38,604 per annum. The subject property is located in Limerick’s Georgian Quarter – known as the Newtown Pery. The property was built in (the late 18th and early 19th) century circa 1810, over 200 years ago. The subject property comprises of a red brick Georgian building with pitched roof. The entrance is by way of a panelled front door to the property with a fan light above the door. The windows mainly comprise of the original sash windows, while the floors are timber throughout. This property benefits from many of its original features throughout. The subject property is located in an area of Architectural conservation and is recorded as protected structures reg. no. 4005 in the Limerick City Development Plan 2022 – 2028. Tax Incentive Scheme The subject property is located in a designated area for the “Living Cities Initiative”. Further details available from Limerick City and County Council website. Title We are advised that the subject title is freehold. TENANCIES (Subject to Confirmation) We have been advised that the following are the existing tenancy agreements for the subject property Ground Floor Offices Four year and nine-month lease from 1/5/2019 at a passing rent of €650 per month. We have been advised that the tenant has been in the building for in excess of ten years and would have rights of renewal under the landlord and tenant act. The tenant is responsible for the rates, refuse and electricity. The landlord pays insurance. Repairs – The tenant is responsible for internal repairs. Basement - Beauticians Two-year lease from 10/6/2017 at a passing rent of €450 per month. The tenant is responsible for the rates, refuse and electricity. The landlord pays insurance. Repairs – The tenant is responsible for internal repairs. Apartment 1 First Floor Hap tenancy from the 1/6/2024 at a passing rent of €621 per month. This is a part 4 tenancy. The tenant is responsible for electricity and refuse. The landlord is responsible for all other outgoings. Apartment 2 Second Floor One-year fixed term tenancy agreement from the 27/9/2024 at a passing rent of €879 per month. The tenant is responsible for electricity and refuse. The landlord is responsible for all other outgoings. Apartment 3 Third floor HAP Tenancy – the term is not fixed and it is from the 23/5/2024 at a rent of €617 per month. This is a part 4 tenancy. The tenant is responsible for electricity and refuse. The landlord is responsible for all other outgoings.

Accommodation

The floor areas measured on nett internal area are as follows: Basement 36 Sq. M. Ground Floor 26 Sq. M. No. 1 Apt. First Floor - 1 bed 32 Sq. M. No. 2 Apt. Second Floor - 1 bed 32 Sq. M. No. 3 Apt. Third Floor - 1 bed 32 Sq. M. Total Nett Area: 158 Sq. M. Total Gross Internal Area of building: 192 Sq. M.

BER Details

BER: Exempt

Description

Accommodation

BER Details

BER: Exempt