6/7 O Connell Street,, Waterford City, Waterford €975,000
Investment Property 1 m² / 11 ft² For Sale
Description
We are delighted to present this unique investment opportunity in a prime location in the heart of Waterford City and the centre of Waterford's Cultural Quarter.
Situated adjacent to the city Quays and the bustling city retail district , this property offers immediate and sustained returns on investment. Tenants not affected.
Nestled in the historic city of Waterford, the Cultural Quarter is a busy enclave renowned for its artistic flair and cultural diversity, home to a myriad of galleries, theatres, artisanal shops, and renowned dining establishments. The area will continue to be a priority area for growth as planned developments come to fruition.
With the imminent extension to the Deise Greenway along O'Connell St, this property stands to benefit from an influx of visitors, tourists, and locals eager to explore the area. This development promises to bring a wave of interest and investment, positioning the property at the forefront of an exciting new chapter in Waterford's evolution.
Neighbouring occupiers include Dooleys Hotel, SETU Dept of Architecture, Garter Lane Gallery & Theatre, The Granary Cafe, Waterford Bus station, and Centra.
Dating from c.1770 , the property is listed on the NIAH as being of architectural and artistic interest. Extensively renovated c.1995, to accommodate use as apartments to upper floors, the inidividual units have the benefit of electric heating .
Features
Mixed use investment property, fully occupied and being sold with sitting tenants
Situated in a prime location in the heart of Waterford city and Cultural Quarter
Immediately adjacent to the imminent extension to the Deise Greenway
2 spacious ground floor commercial units with own door access
14 overhead residential units
BER Details
BER: Exempt
Accommodation
This substantial mixed-use property comprises a terraced four-storey premises which accommodates two ground floor commercial units, and 14 apartments overhead. The entire is being sold with sitting tenants and current passing rent is circa €125,000 p.a.
Ground floor commercial units are set out as two individual units with own door access
1. Long established Delaneys Florist. Generous shop area with excellent window display area, spacious storage rooms to rear and overhead. Staff W/C.
2. Jack and Jill Charity Boutique . Large open plan shop with high ceilings and good window display option. To the rear and overhead are further generous storage areas.
Residential accommodation overhead includes 3 x studio apartments, 7 x 1 bed apartments, 4 x 2 bed apartments.
This is a fantastic opportunity to acquire a solid mixed use investment property in the heart of Waterford city with a good mix of tenants. There is potential to increase rents and create new leases within the buildings at upcoming lease termination dates.