Iconic Kilkenny building sold with sitting tenants
A Kilkenny premises was sold at auction this afternoon in the city for €1.6 million. Situated on the corner of High Street and Rose Inn Street, the three-storey building was put on the market when it reached €1.15 million at the auction held in the Ormonde Hotel, Kilkenny.
No 101 High Street, Kilkenny also has a basement. The end of terrace building has rendered and painted external walls incorporating a pitched roof with slate covering. This building is occupied by Ladbrokes at ground floor level while the basement, first and second floors are occupied by Swans Chinese restaurant. The property comprises of 293 sq.m on the ground, first and second floor levels with 52sq.m at basement level. The property has high profile frontage of 27 meters High Street and Rose Inn Street.
Ladbrokes currently occupy the ground floor on a 21 year FRI lease from 2004 at an annual of €105,000 with a break option in 2021 subject to six months' notice. Swans Chinese restaurant occupy the first, second and basement floors on a 21-year FRI lease from 2005, paying a rent of €48,000 per annum.