Business centre The Atrium for sale in the middle of Naas

On The Market

Senan Hogan

Reporter:

Senan Hogan

Email:

senan.hogan@iconicnews.ie

Business centre The Atrium for sale in the middle of Naas

Aerial view of The Atrium

A well-known business centre in Naas is currently up for sale — making it one of the biggest commercial property deals in County Kildare.

The mixed-use investment property, The Atrium, off North Main Street has a guide price of €3.8m.

Tenants will not be affected by the sale.

Selling agents JP & M Doyle in Blessington said the premises generates over €250,000 gross annual rental income excluding VAT, rates and service charge, equating to a gross yield of 6.59%.

It’s believed The Atrium is being sold by a private investor who purchased it after the financial crash.

Located on John’s Lane, the property is in the town’s central business district and a well-known Kildare meeting place, Lawlor’s Hotel, is close by.

The property gets its name from an impressive, glazed roof enclosure covering the central common areas.

Tenants include Nua Quality Homecare, Clark Recruitment and Naas Foot Clinic.

The four-storey building extends to 33,980 sq ft of which 7,704 sq ft are let to Nua Healthcare Services Limited who pay an overall rent of €85,749.

Units 1 and 2 on the ground floor extend to 1,200 sq ft are let to Atrium Family Practice doctor’s surgery on a two-year lease from September 2020 at annual rent of €22,000. Unit 4 — extending to 600 sq ft— is let to Naas Foot Clinic on a new lease at €11,000 per annum.

Unit 3 extends to 600 sq ft and is let to chiropodist Julie Corcoran on a five-year Lease from March 2019 at €12,000 per annum.

Another tenant, Clark Recruitment Limited, occupies Office 2 which extends to 2,132 sq ft and is let for 15 years from August 2017 at an initial rent of €32,000 per annum.

Clark Executive Limited occupies serviced offices extending to 2,405 sq ft from August 2017 to 31st March 2022 at €34,500 per annum.

Office 6 — extending to 645.8 sq ft — is let to Cantwellscourt Farm Limited for two years from November 2018 at €12,000 per annum. Its lease has expired.

The Atrium comes with 17 surface car parking spaces and it also adjoins a public car park.

The top floor accommodates a board room and three apartments with the latter ranging in size from 732 to 1,098 sq ft and each of them are let.