Strong interest is expected in the sale of a building, currently occupied by Permanent TSB, in Lucan, Co Dublin.
The modern, purpose built, two storey retail bank occupies a high-profile corner position adjoining the weir in the centre of the village.
Extending to about 236.11 sq m, together with seven secure basement car parking spaces, it is being brought to market by Murphy Mulhall at an asking price of €1.275m.
The property is let in its entirety to Permanent TSB (PTSB) on a 35 year full repairing and insuring (FRI) lease from 1996, with an expiry in March 2031. The current passing rent is €120,000 a year.
One in five people expect to pay mortgage in retirement, survey finds
Irish architectural great Ronnie Tallon built a home far superior to Mies van der Rohe’s original. Time to protect it
Sherry FitzGerald CEO Steven McKenna to leave firm to ‘explore new opportunities’
Avoiding double taxation on sale of a property abroad
The property comprises a modern banking hall with ancillary offices and rooms at ground floor, with additional ancillary offices/staff facilities and canteen/stores at first floor level. In addition to the basement car parking spaces, there is further parking at lower ground level.
PTSB currently has a network of almost 100 branches across the country. Following the departure of Ulster Bank back in 2023, PTSB agreed to acquire some of its business, including 25 branches.
Lucan is a mature suburb in west Dublin, which benefits from a substantial array of local services and amenities including shops, various national and secondary schools, parks etc. It is well serviced by public transport, with various Dublin bus routes serving the locality. Adjoining occupiers to the bank include The Artisan Pantry, Seasons on the Weir, Four Star Pizza, and Coyne Solicitors.
“This property will give purchasers a chance to acquire impressive high-profile retail property in the heart of Lucan village, with the benefit of an excellent secure tenant covenant until March 2031, at a current rent of €120,000 per annum. We expect strong interest from a variety of investor groups and individuals,” says Brian Gaffney, director at Murphy Mulhall.
- Sign up for push alerts and have the best news, analysis and comment delivered directly to your phone
- Join The Irish Times on WhatsApp and stay up to date
- Listen to our Inside Politics podcast for the best political chat and analysis