Post offices with potential to develop in Naas and Navan
THE BUSINESS POST, 28 SEPTEMBER 2024
The Naas property includes the town’s post office
Tina Marie O’Neill
Sitting tenants with secure income and opportunities to develop the remainder of the buildings should get stamp of approval from investors
TWM, acting on behalf of An Post, has brought two post offices to the market for sale in counties Kildare and Meath.
The first is the Naas Post Office building on South Main Street in Naas, Co Kildare for which the agent is guiding €1.05 million. The second is on Kennedy Road in Navan, Co Meath and has a guide of €1 million.
Naas Post Office will remain in situ in a lease-back agreement following the sale.
The property offers the potential of a good investment given its secure, blue-chip income and a future redevelopment opportunity.
Selling agent, Christian Dodd of TWM, said: “This opportunity features a long-term lease with An Post operating a busy post office, while the remainder of the property is poised for redevelopment.
“We believe the characteristics of this property will be of interest to investors and developers alike.”
Located on South Main Street in the heart of the bustling town of Naas, a popular retail and leisure destination for the surrounding communities. The area is well served by public transport links with bus stops located directly outside the property, providing access to Kildare and Dublin.
The immediate area is primarily in commercial use with occupiers such as Dunnes Stores, Bank of Ireland and Ikea close by.
This area of the town is designated as’Town Centre or Commercial/Town or Village Centre’ under the local development plan.
TWM believes the site is suitable for a range of development possibilities both residential and commercial.
The property comprises a mid-terrace, four-bay, three-storey building originally built in about 1825. It extends to about 529 square metres, most of which previously housed a local sorting and delivery office for An Post.
The site extends to some 0.098 hectares, (about 0.24 acres), with the Post Office occupying approximately 196.58 square metres on the ground floor. This configuration presents an exciting opportunity to revitalise the upper floors and develop the rear of the site.
The Navan Post Office is located on a corner site at the intersection of Kennedy Road and Abbey Road and beside the Navan Town Centre shopping centre
The second post office is on Kennedy Road in Navan, Co Meath, which presents as another unique investment/development opportunity with a secure income and significant development potential, for which the agent is guiding €1 million.
Navan Post Office will also continue to operate from part of the building on a lease- back agreement following the sale.
Situated on a prominent corner site at the intersection of Kennedy Road and Abbey Road, the property is beside the popular Navan Town Centre shopping centre. The town’s main street is about 200 metres from the property.
The area is well served by bus routes providing access throughout Meath and to Dublin city centre.
The property is strategically located within an area zoned as ‘ Town Centre or Commercial/Town or Village Centre’ under the local development plan, allowing for a variety of development options.
The property comprises a single storey standalone warehouse former used for local An Post sorting and delivery operations, on a site of about 0.268 hectares (0.66 acres). An Post’s retail post office now occupies about 239 square metres on the ground floor and will enter into a long lease thereon.