Property containing Chinese restaurant for sale for €370,000

Senan Hogan

Reporter:

Senan Hogan

Property containing Chinese restaurant for sale for €370,000

Chinese Restaurant

Jordan Auctioneers are bringing to the market a modern prime town centre mixed use investment property in Abbeyleix, Co. Laois. The subject site is situated in the centre of Abbeyleix Town just off Market Square superbly located within easy walking distance of all amenities.

The property comprises a modern purpose built two storey mixed use building constructed in 2006 extending to  356.10 sq.m. (3,833 sq.ft.).

The building provides a ground floor commercial unit currently trading as a Chinese Restaurant and Take away with 3 no. of 2
bedrooms apartments overhead. The property has the benefit of 7 car parking spaces to the rear.

The Chinese Restaurant is fully fitted out in accordance with its use and provides reception, take away, restaurant, toilet block, kitchen, cold stores, storage and staff w.c.

The 3 apartments with their own separate access generally provide kitchen/dining/sitting room, 2 bedrooms and family bathroom.

The entire is currently generating a rental income of €40,800 per annum which equates to an initial yield of 11% on the guide price with further potential to increase the rental income on the residential units.

The subject site is zoned ‘Town Centre’ in the Laois County Development Plan 2017 - 2023.

The property is for sale by Private Treaty with Jordan’s issuing a guide price of €370,000 for the entire. Additional information is available through Stephen Talbot on 045 – 433550.