Several Limerick property investments, including two Travelodge hotels, developed in the mid 2000s and controlled by the Cracken Properties group have come to market with agent DTZ Sherry FitzGerald’s Limerick and Dublin offices.
Most valuable is the 2007-developed Park Point scheme on the Dublin Road, with a €4 million price guide, and a current income of €68,000 pa.
The mixed use scheme, with eight-storey tower element and designed by architects Michael Healy Partners, has five retail warehouse units, four vacant floors of office accommodation, a 70 bedroom hotel let to Travelodge, plus a cafe.
There’s 90,000 sq ft in all.
The Park Point development is close to Aldi, and to the spread of retail development at Parkway Retail Park, and the Parkway Shopping Centre.
Also with the same agents is another, purpose-built 72-bed Travelodge at Coonagh, on the Ennis Road. The 27,000 sq ft property is producing €40,000 pa and the price guide is €800,000.
And, producing more in income but priced at €600,000 is Park Lodge, on Limerick’s Old Dublin Road: it’s a mixed use investment with ground floor retail unit, crèche and children’s activity centre.
It’s fully let, earning €68,500 pa and totals 15,500 sq ft.
All three sales are via private treaty, and agents are Muireann Griffin and John Buckley in Limerick, and Kirsty Rothwell in Dublin.
The investments are associated with Cracken Properties which went into PWC receivership in 2012.
Details: DTZ Sherry 061-418111
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