Enoteca Torino for sale for 240,000

AuthorMessage DateMessage
Local12/02/2014Enoteca Torino, 119sq m (1,281sq ft), guide price of 240,000 !!

Adjoining vacant commercial unit 228sq m (2,454sq ft), guide price of 150,000 !!

For sale in one or two lots.

Sounds like a bargain! Maybe us local residents should club together to purchase one or both of these properties!

The following is quoted directly from the business section of the Irish Times 12/02/2014

The Enoteca Torino restaurant extends to approximately 119sq m (1,281sq ft) and is fully fitted with customer toilets, wall-mounted air-conditioning units, tiled floors and slab ceiling with recessed lighting.

A large adjacent vacant unit with approximately 228sq m (2,454sq ft) of space for commercial use is also on the market. The two units form the ground floor of James Plunkett House, a development of 15 apartments, two ground-floor commercial units together with 12 underground car spaces.

The agents are guiding 240,000 for Enoteca Torino restaurant, representing a net initial yield of approximately 10 per cent, and 150,000 for an adjoining vacant unit. The property is available in one or two lots.

The rent is 25,000 per annum running for 10 years from September 2013, giving an unexpired lease term of approximately 9.55 years.

There is a rent review at the end of the fifth year based on open market review.

The large adjacent vacant unit offers the potential for active asset-management opportunities such as sub-division, letting or owner occupation.

It occupies a high-profile location on a busy thoroughfare in Inchicore with a high volume of passing traffic.
Oisin14/02/2014Just found out on twitter that the buildings are being sold but that Wallace Calcio will continue to run the enoteca!