For Sale €275,000 - Investment Property, Residential, Retail Unit
Oates Auctioneers in partnership with The Leinster Property Auction.
Offered at bids over €275,000
We are delighted to welcome to the market this large mixed-use unit, with a total floor area of approx. 585 sq.m. and spanning over 3.5 floors.
The property offers two retail units, with c. 120 sq.m. at street level and 3 entrances to the side of the building, one of which has a large gateway leading to the lower ground floor.
On the first floor the property there a large restaurant area that it is in need of repair / modernisation while the 2nd and 3rd floors offer extensive living accommodation.
The property offers excellent potential for the development of a substantial retail space at both the ground floor, Church Street level, the lower ground floor, Friary Lane level and the upper levels.
The property has entrances on both Church St and Friary Lane and has access on two sides (five entrance points in total).
At a recent meeting with the Westmeath Co. Council the possibility of developing this property was discussed and viewed favourably. They also indicated that they would be willing to discuss any further development plans with potential purchasers.
Church St is located in the heart of Athlone town centre. Athlone is considered to be the commercial capital of the midlands. It has a population of c. 21,349 (2016 census) and growing (5.9% increase from 2011). Most of the town lies on the east bank of the river, and the subject property, 37 Church St., is in the middle of the main street, right in the heart of the town. Athlone is a key component of the linked gateway for the Midlands, designated under the National Spatial Strategy. A major enhancement of Church St is completed €” the end results includes a new plaza with seating areas next to an historic church, and the subject property is at the hub of this development. It is also directly opposite the Athlone Town Centre (the tenants including M&S, H&M, Zara, TK Maxx and many more) and has the River Shannon Strand St to the rear.
Tenure: Freehold Vacant Possession
BER Details: BER C3 / BER No. 800265183
TO VIEW OR MAKE A BID – Contact Oates Auctioneers on 090 6477500 or visit www.leinsterpropertyauction.ie
This property is offered for sale by unconditional auction. The successful bidder is required to pay a 10% deposit and contracts are signed immediately on acceptance of a bid. The buyer will be granted 28 days from the date of exchange to complete the purchase. Please note this property is subject to an undisclosed reserve price. Terms and conditions apply to this sale.