Spar, The Five Lamps, Aldborough Court, Dublin 1 (Auction 15th October 2021)

The Property

The unit forms part of the Aldborough court mixed-use development. The Subject unit comprises the ground floor convenience store, trading as Spar and extends to 3,525 sq.ft. GIA. The unit is laid out to provide an off-licence, delicatessen counter and back of house storage. The uppers floor apartments do not form part of the sale.

Tenancy

The property is occupied by Lilacglen Limited t/a Spar on a 25-year lease from 22nd December 2005 with approximately 9.5 years unexpired. The passing rent is €85,000 p.a. rising to €90,000 p.a. in September 2023 (excl. VAT). The lease is on a full repairing and insuring basis, subject to block service charge, and provides for market rent reviews every 5 years, the next of which occurs in September 2024.