THE VILLAGE CENTRE & RIVER CENTRE, RATHBOURNE/ ASHTOWN, DUBLIN 15 Dublin 15

Investment

ID: RC-2184

For Sale

€8 500 000

THE VILLAGE CENTRE & RIVER CENTRE, RATHBOURNE/ ASHTOWN, DUBLIN 15

APPROX. 3,601.4 SQ.M. (38,765 SQ.FT.) OF COMMERCIAL PROPERTY IN A LARGE MIXED USE TOWN CENTRE DEVELOPMENT

BER C1 E1

ESTABLISHED SUBURBAN RETAIL INVESTMENT OPPORTUNITY IN BUILT UP SUBURB OF ASHTOWN, ADJ. CASTLEKNOCK

CURRENT PASSING RENT OF APPROX. €996,801 P.A.

EXCELLENT PUBLIC TRANSPORT – ADJ ASHTOWN TRAIN STATION AND THE N3 NAVAN ROAD

GOOD PROFILE OVERLOOKING THE ROYAL CANAL & CYCLE/WALKWAY

ACCORDING TO CENSUS 2022 ASHTOWN HAS A POPULATION OF APPROX. 9,399

A GOOD MIX OF 24 LOCAL CONVENIENCE STORES ANCHORED BY SUPERVALU (not part of sale),

THE LOCKKEEPER BAR AND GEISHA RESTAURANT, LLOYDS PHARMACY, SPAR, GIRAFFE, DOUGLAS & KALDI CAFE, PHOENIX DENTAL, THE RUN HUB, MCDONNELL & CO. SOLICITORS, BRENNAN PROPERTY CONSULTANTS, KILO, EUROSTAR, REBA HAIR & BEAUTY, T2 BARBER ROOMS, PHOENIX SKIN CARE ETC.

POTENTIAL TO INCREASE RENT BY RENTING OUT 4 VACANT RETAIL UNITS

Ashtown is a growing suburb to the north west of Dublin and is located less than 7 km from Dublin City Centre and 2km from the M50 motorway.

The Village Centre and River Centre are located to the north side of the Navan Road (R147) fronting onto the Royal Canal and cycly/walkway opposite Ashtown Train Station. Ashtown train is just three stops from Connolly Station on the Maynooth line providing excellent access to the city city centre and Spencer Dock in the Irish Financial Services Centre in 20 minutes.

Ashtown is also well serviced by buses with the 120 Dublin Bus terminating at the railway station and the 37, 38, 39 and 70 routes on the nearby Navan Road.

The subject property has excellent access from the M50 via the Navan roundabout and River Road.

The Village Centre mixed use apartment and retail development is located to the north of the Royal Canal and Ashtown Train station and runs east along River Road/Tolka River Valley towards Pelletstown.

There is also good access to Castleknock and the Phoenix Park (7 square kilometres of green space) via the Halfway House/Navan Road roundabout. The immediate area is predominantly residential in nature including several large apartment blocks and local sports amenities, greenways and farmland use located nearby.

The retail units also benefit from some of the local sports clubs with St. Oliver Plunkett Eoghan Ruadh GAA grounds and Ashtown Stableslocated next to the railway station, Coolmine Rugby Footbal Club and Elm Green Golf Club are a short distance to the west of Ashtown.

Description

The Village Centre – Rathbourne

The Village Centre is a modern mixed use development comprising of 2 – 8 storey blocks on either side of the Ashtown Road, overlooking the Royal Canal and Ashtown Train Station. There is a public open space and walkway and cycleway running along the Canal Lock and Royal Canal towards Pelletstown.

The ground floor comprises 15 retail units on either side on the Ashtown Road and a separate bespoke built bar and restaurant building overlooking the Royal Canal. The Supervalu (units 4 & 5) 133 basement car parking spaces and overhead apartments are not included in the property sale.

There is a strong mix of retail tenants and local convenience shop uses, the Lockkeeper Bar, Geisha restaurant, Douglas & Kaldi provide good food and drink offerings in a built up area that has a good demographic and demand,

The River Centre – Rathbourne

The River Centre is only 400 meters to the east of the Village Centre on Rathbourne Place and comprises a 2 storey commercial building that is designed to accommodate a large creche with on street parking directly outside the property. The River Centre has been fitted out to a high standard to accommodate Giraffe Creche over 2 floors with an external play area, a large Spar Convenience Store, MBC Fitness – basement , Laundrette, Medical Centre and 4 retail units.

Zoning

The property is zoned ‘Z14’ under the Dublin City Development Plan 2016 to 2022 – To seek the social, economic and physical development and / or rejuvenation of an area with mixed use of which residential and Z6 would be the predominant uses.

There are zoned land banks and development sites located within the immediate area which should be able to accommodate future high density developments, subject to planning permission.

Enabling works have also started on the construction of another 318 residential units (176 apartments & 142 houses) on the vacant site to the immediate east of the Village Centre.