Two ru­ral AIB branches a safe bet for in­vestors

Sunday Independent (Ireland) - Property - - SUNDAY PROPERTY - Ron­ald Quin­lan

AGENTS Sav­ills are of­fer­ing two se­cure in­vest­ment opportunities lo­cated in Thurles, Co Tip­per­ary, and Kil­rush, Co Clare, re­spec­tively to the mar­ket.

Both are fully-let to the AIB bank on 20-year FRI (full re­pair­ing and in­sur­ing) leases dat­ing from Jan­uary 2009, giving the prospec­tive pur­chaser con­sid­er­able cer­tainty in re­la­tion to their in­vest­ment.

In the case of the Thurles prop­erty, the lease com­mands a pass­ing rent of €215,000 per an­num and comes with the ben­e­fit of up­ward only rent re­views. Pric­ing for the build­ing is avail­able from Sav­ills on ap­pli­ca­tion.

Lo­cated on a 0.34 acre site, the prop­erty is an end-of-ter­race, three-storey build­ing fronting onto O’Dono­van Rossa Street and Lib­erty Square at the cen­tre of Thurles town. The ground floor is made up of a bank­ing hall, with pri­vate of­fices, a safe room, staff can­teen and staff toi­lets. A sec­ondary set of these fa­cil­i­ties are lo­cated on the first floor while more of­fices and staff space can be found on the sec­ond floor. The build­ing’s to­tal in­ter­nal floor area ex­tends to 13,411 sq ft. Thurles is eas­ily ac­cessed via the M8 Cork- Dublin mo­tor­way at Junc­tion 6 (Horse and Jockey) and 5 (Twom­ile­bor­ris).

The sec­ond prop­erty, in Kil­rush, Co Clare, comes with a pass­ing rent of €77,500 per an­num with pric­ing avail­able from Sav­ills on ap­pli­ca­tion.

Ex­tend­ing to ap­prox­i­mately 5,651 sq ft and po­si­tioned on a site of 0.25 acres, the build­ing en­joys a prom­i­nent pro­file on Fran­cis Street. A de­tached, red­brick two-storey build­ing, it com­prises of an open plan ground floor bank­ing hall with cashier desks and meet­ing rooms. There are staff of­fices and ad­di­tional fa­cil­i­ties on the first floor, and an attic stor­age space above that.

Kil­rush is the main town of south­west Clare and is 45km south­west of En­nis town cen­tre on the N68. It also con­nects with Kil­kee and Doon­beg along the N67.

Chris O’Cal­laghan of Sav­ills Ire­land says: “We are pleased to bring this strong in­vest­ment op­por­tu­nity to mar­ket, and en­vis­age a high level of in­ter­est among clients seek­ing to re­ceive a sus­tain­able, se­cure re­turn on their cap­i­tal.”

The bank branches in Thurles, Co Tip­per­ary, left, and Kil­rush, Co Clare

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