Option to buy PTSB branch in Lucan village for €1.275m

Strong interest is expected in the sale of a building, currently occupied by Permanent TSB, in Lucan, Co Dublin.
The modern, purpose built, two storey retail bank occupies a high-profile corner position adjoining the weir in the centre of the village.
Extending to about 236.11 sq m, together with seven secure basement car parking spaces, it is being brought to market by Murphy Mulhall at an asking price of €1.275m.
The property is let in its entirety to Permanent TSB (PTSB) on a 35 year full repairing and insuring (FRI) lease from 1996, with an expiry in March 2031. The current passing rent is €120,000 a year.
The property comprises a modern banking hall with ancillary offices and rooms at ground floor, with additional ancillary offices/staff facilities and canteen/stores at first floor level. In addition to the basement car parking spaces, there is further parking at lower ground level.
PTSB currently has a network of almost 100 branches across the country. Following the departure of Ulster Bank back in 2023, PTSB agreed to acquire some of its business, including 25 branches.
Lucan is a mature suburb in west Dublin, which benefits from a substantial array of local services and amenities including shops, various national and secondary schools, parks etc. It is well serviced by public transport, with various Dublin bus routes serving the locality. Adjoining occupiers to the bank include The Artisan Pantry, Seasons on the Weir, Four Star Pizza, and Coyne Solicitors.
“This property will give purchasers a chance to acquire impressive high-profile retail property in the heart of Lucan village, with the benefit of an excellent secure tenant covenant until March 2031, at a current rent of €120,000 per annum. We expect strong interest from a variety of investor groups and individuals,” says Brian Gaffney, director at Murphy Mulhall.