Cavan town centre investment with redevelopment potential
Large portfolio is on the market at over €3m through agent Knight Frank
The holding includes 10 buildings with 4,181sq m (45,000sq ft) on a site of 2.42 acres
A large investment portfolio with redevelopment potential in Cavan town centre is on the market at more than €3 million through agent Knight Frank.
The holding includes 10 separate buildings with a combined 4,181sq m (45,000sq ft) on a site of 2.42 acres. It is producing a rent roll of about €357,000 which suggests a net initial yield of 11 per cent on the investment before obvious asset management opportunities are taken into account.
Tenants include Boots, CCVEC, Cavan County Council and the HSE who combined make up about 50 per cent of the passing rent.
The portfolio includes eight retail units, eight apartments, two public houses, offices, a school, a former B&B, car park, house and development site.
The site is zoned “Town Core” and a “Master Plan Area” under the Cavan Development Plan 2014-2020. This encourages town centre uses while there is also a specific objective on this holding to facilitate back-land development to form a civic space.
Cavan town is two hours by car from Dublin.