Waterford lots could appeal to investors and developers

A mixed-use investment located at 12 Broad Street, Waterford city

Development site at Adamstown, Kilmeaden, Co Waterford

Donal Buckley

A Waterford man is selling a city-centre investment property and two development sites in the county in three separate lots.

The city centre property is a mixed-use investment located at 12 Broad Street. Its ground floor and basement are let to the Bank of Ireland on a 35- year lease at a current annual rent of €83,000 with four years remaining. This unit has been sublet to Claire’s Accessories since 2011 for €69,000 per annum.

Upstairs there are four apartments let to Waterford City & County Council on a 20-year lease with over 18 years remaining at a current annual rent of €22,700.

Selling agent Sherry FitzGerald John Rohan (SFJR) is guiding €950,000 for this lot.

A corner building with a single-storey return section, it extends to 361 sqm over three storeys and part-basement. Its first and second floors each comprise of a 36 sqm studio apartment and a 54 sqm one-bedroom apartment.

A large corner site at the intersection of Broad Street and Peter Street immediately opposite Dunnes Stores ladies wear, the building overlooks the junction of Patrick Street, Michael Street, Peter and Broad Streets.

City Square Shopping Centre, located 80m away, is anchored by Dunnes Stores and other occupiers include Carraig Don, Golden Discs, JD Sports and River Island. The centre also provides a large underground car park.

John Roberts Square, Waterford’s main square, is approximately 100 meters from the property via Broad Street and main occupiers in the square include The Book Centre, Penneys, Pandora, McDonald’s and Supermacs.

Development site at Adamstown, Kilmeaden, Co Waterford

The other two lots for sale are development sites in the village of Kilmeaden on the west of Waterford city.

The more valuable of the development lots is a 2.99-acre shovel ready site at Adamstown in the village which is about 5.8km west of Waterford city suburbs. It comes with planning permission for 12 semi-detached houses, four terraced houses and six apartments. The agent is quoting €895,000 for this lot.

The third lot is a 1.4-acre site which is zoned neighbourhood centre which would encourage a creche, leisure centre, medical consultancy, or residential in the village of Kilmeaden. SFJR is quoting €199,000 for this lot.

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