88 O'Connell Street,Dungarvan,Co. Waterford, Dungarvan, Co. Waterford

Unique residential/commercial investment opportunity with the potential of an excellent rental income return, all situated at this prime central location, overlooking Grattan Square, the main hub of all business, shopping, tourism, and the bustling Restaurants & Bars of Dungarvan town. Dungarvan Quayside, The Waterford Greenway, King Johns Castle, Dungarvan Shopping Centre, are all a few minutes walk from this iconic property.

The building at, 88 O’Connell Street, formerly known as Tipperary House, has a long history as a public house and hotel, eventually becoming Ryan’s Hotel in the late 1800s, and later the J.J. Morrissey butchery and grocery business. The property’s name changed over time, and it was operated by the Morrissey family all through the 1900s
The business was also well known as Morrissey Butchers and included a large butchery shop with a slaughterhouse out back, though a separate slaughterhouse was later built elsewhere.

The property to date has still has a family butcher trading on the ground floor of this commercial/residential premises, and together with substantial overhead accommodation over three upper floors, a large rear site, with separate side access and a range of extensive outbuildings included.

The current owner is currently making an application for planning permission to develop the upper floors over the commercial unit and develop the buildings at the rear of the main premises. The proposed planning application will include a one-bedroom apartment on the first floor, a two-bedroom penthouse apartment over the two upper floors, and the development of three ground floor one-bedroom units to the rear of the building. (See proposed drawings attached). This development will allow six streams of strong rental income at this central location, (one commercial, and five residential).

The development of this building will qualify for the Vacant Property Refurbishment Grant, subject to an application.

What is the Vacant Property Refurbishment Grant?
The Vacant Property Refurbishment Grant provides funding so you can refurbish a vacant or derelict home.
It can also be used to renovate vacant and derelict properties that have not been used as residential properties before.
You can get the grant if you are refurbishing the vacant property either:

To live in yourself.
To rent the property out.

The Vacant Property Refurbishment Grant is funded by the Department of Housing, Local Government and Heritage through the Cro Cnaithe (Towns) Fund and you apply to your local authority.

See link below with all details of the grant.

https://www.citizensinformation.ie/en/housing/housing-grants-and-schemes/local-authority-housing-grants-and-supports/vacant-property-refurbishment-grant/

This unique and substantial premises presents an excellent opportunity to invest in a commercial and residential mixed building, which has the potential to make a high rental return from both commercial and residential, all currently in high demand at this prime location of Grattan Square, Dungarvan.

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