Agent BDM Property is guiding a price of €3.4 million for Grattan Court, a high-profile mixed-use investment in the fast-growing coastal town of Greystones in north Wicklow.
Located at the junction of Kindlestown Road and Lower Grattan Park, the property briefly comprises a ground floor retail unit with first-floor staff accommodation occupied by Donnybrook Fair that extends to 642sq m (6,915sqft). In addition there are three large two-bedroom apartments that were fully refurbished in 2016. The apartments are own-door units and are accessed off an external communal courtyard. The apartments extend to 76–80sq m (818–861sq ft) each and feature an open-plan living and dining area, a fully equipped kitchen, two bedrooms and two bathrooms. The wider scheme also includes 42 dedicated surface car spaces adjacent to the building.
The commercial portion of the development generates a passing rent of €130,624 per annum. When taken together with the residential element of the scheme, the investment is producing a total of €191,500 per annum. There is significant revisionary potential on both the commercial and residential elements according to the selling agent.
Grattan Court occupies a prominent position across the road from Greystones Shopping Centre. This centre is anchored by a large Tesco, a Lloyd’s pharmacy, Enso Restaurant, Greystones Dental along with a number of other retailers. The subject property is a short walk from Greystones village and is surrounded on all sides by both established and newly built residential estates.
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Declan Bagnall of BDM Property said: “Grattan Court offers an excellent combination of commercial and residential space in a very prominent location in the sought-after village of Greystones with the added benefit of significant reversionary potential.”
