One House, Athlone Business Park, Athlone, Co. Westmeath

Superb Office Investment Opportunity For Sale

Tenancy

Schedule of Accommodation

Approximate Gross Internal Floor Area

Ground Floor	1,093 sq.m.	11,763 sq.ft.
1st Floor	1,093 sq.m.	11,763 sq.ft.
Total GIA	2,186 sq.m.	23,526 sq.ft.

Tenancy Details

Tenant - One Direct (Ireland) Limited t/a One Direct
Guarantor - An Post
Lease Term - 25 years from 1st January 1999
Rent - €260,000 per annum
Rent Reviews - 5 yearly reviews
Review Basis – Upward Only
Break Option – None
Repairs – External and Internal

Covenant

One Direct was established in 1999 and has grown from 10 employees to a workforce of over 140 with a focus on a variety of insurance related services, making it one of the top five employers in Athlone.
The company is registered as an insurance intermediary, offering car insurance, home insurance, travel insurance, bicycle insurance and life assurance.

One Direct is a wholly owned subsidiary of An Post who are guarantors to the One Direct lease. An Post is state body and represents an extremely attractive covenant to investors.

Title

Freehold

BER

VAT

VAT information will be provided on request

CAPITAL GAINS

If the property is purchased before the end of 2014 and is held for at least 7 years, the capital gain attributed to that 7 year holding period will be exempt from Capital Gains Tax (CGT).

We recommend that interest parties satisfy themselves in relation to CGT and taxation matters relating to the property generally and seek tax advice from their accountant or tax advisor.