6
Prime Retail Investment Opportunity For Sale by Private Treaty (Eason Store Not Affected) 1 9 - 2 0 G l a d s t o n e S t r e e t CLONMEL, CO. TIPPERARY
P r i m e R e t a i l I n v e s t m e n t O p p o r t u n i t y F o r S a l e b y P r i v a t e Tr e a t y ( E a s o n S t o r e N o t A f f e c t e d )
1 9 - 2 0 G l a d s t o n e S t r e e tC L O N M E L , C O . T I P P E R A R Y
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High Profile location on
Gladstone Street opposite Specsavers
Two storey end-terrace
building extending to 431.3 sq m
Large retail floor plate of
347.3 sq m at ground floor
25 year lease to Eason Ltd. with 10 years term certain
Attractive NIY of 11.5% off a market rent of
€70,000 p.a.
1 9 - 2 0 G l a d s t o n e S t r e e tC L O N M E L , C O . T I P P E R A R Y
LIT CLONMEL
CARRIGEENBUSINESS PARK
HILLVIEWSPORTS CLUB
R688
R688
R688
R678
R678
R689
R665
R671
R671
N24
N24N24 N24
CAHIR ROAD
IRISHTOWN
DAVIS ROAD
TOWNCENTRE
SHOWGROUNDSHOPPING CENTRE
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C L O N M E L I N C O N T E X T
Situated on the River Suir, Clonmel is the largest town in Co. Tipperary with an urban population of 17,140 as at Census 2016. The town is located approximately 52 kms north west of Waterford City and 54 kms south west of Kilkenny City.
The town has a strong employment base and has become a core location for the pharmaceutical industry with companies such as Abbott, Clonmel Healthcare and Merck, Sharp and Dohme amongst others in the area. Other key employers in the town include C&C Group, the manufacturers of Bulmers Cider and South Tipperary General Hospital.
The principal town centre commercial thoroughfares of O’Connell Street and Gladstone Street are occupied by a mix of international, national and local retailers including Penneys, Holland & Barrett, Elvery’s, Heatons, Lyfestyle, Dealz, New Look and River Island. The subject property is located in a high profile location on the west side of Gladstone Street, opposite Specsavers.
1 9 - 2 0 G l a d s t o n e S t r e e t
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BOO
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CARE &COMFORT
VOD
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PHONE
STORES
UNCLE MIKES
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13
433433 38 - 39
2
26 36 41 - 42
19 - 2023
3727 - 28 46
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4029
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45 47 - 49
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CONSTITUTION LANE
ELBOW LANE
MAR
KET
STRE
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GLADSTONE STREET
MO
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NST
REET
MAR
KET
PLAC
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C HEL
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EAST
LAN
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WHITES LANE
&
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MARYSTONE CENTRE
(2R
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GAR
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ENTR
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2225 21
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C L O N M E L P L A N
Subject property is shown for identification purposes.There is a deal pending with the PRAI over this portion of land.
SU
BJ
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T H E P R O P E R T Y
T H E L E A S E
19/20 Gladstone Street is a part two storey/part single storey end of terrace building with approximately 12 meters of frontage to Gladstone Street.
The entire extends to 431.3 sq m (4,641 sq ft) incorporating 347.3 sq m (3,738 sq ft) of retail area at ground floor. The store is laid out to provide an open plan retail area with a store room located to the rear of the ground floor within the single storey extension.
S C H E D U L E O F A C C O M M O D A T I O N
Floor Use Sq M NIA Sq Ft NIAGround Retail 347.3 3,738Ground Storage 29.5 317First Ancillary Back of House 54.5 586Totals 431.3 4,641
Let to Eason Limited on a new 25 year FRI lease at an annual rent of €70,000. The lease provides for five yearly open market rent reviews and a break option (in favour of the tenant) at the end of year 10 subject to six months’ prior written notice.
Eason is Irelands leading books, stationery, news and magazines retailer with a portfolio of 60 stores nationwide and employing approximately 800 people. Eason Limited had a turnover of €109m in the year ended January 2018, with a profit after tax and restructuring costs (€3.3m) of €0.7m. The profit after tax for the year ending January 2019 is expected to be approximately €3m bringing the balance sheet value to c.€6m. Full accounts for 2018 and draft accounts for 2019 are available on request.
A L E X P A T T E R S O N+353 1 [email protected]: 001830-002397
Hambleden House, 19/26 Pembroke Street Lower, Dublin 2
Disclaimer: These particulars are issued by Bannon and Moynihan Curran on the understanding that any negotiations relating to the property are conducted through them. While every care is taken in preparing them, Bannon and Moynihan Curran , for themselves and for the Vendor/lessor whose agents they are, give notice that: (1) The particulars are set out as a general outline for guiding potential purchasers/tenants and do not constitute any part of an offer or contract. (2) Any representation including description, dimensions, references to condition, permissions or licences for uses or occupation, access and any other details are given in good faith and are believed to be correct, but any intending purchaser or tenant should not rely on them as statements or representations of fact but must satisfy themselves (at their own expense) as to their correctness. (3) Bannon and Moynihan Curran nor any of its employees have any authority to make or give any representation or warranty in relation to the property.
K A T EC U R R A N +353 52 61 [email protected]: 001822-002097
Tel: +353 52 6121750 32 Parnell Street, Clonmel, Co. Tipperary
SALES PARTICULARS
The property is being offered on the basis of Sale and Leaseback via a Private Treaty process. Price on application.
VIEWINGS
Viewings are strictly through the joint selling agents, Bannon & Moynihan Curran.
VAT
TBC
TITLE
Freehold title, subject to a deal pending in the PRAI over a small portion of land to the rear of the property.
J O I N T A G E N T
1 9 - 2 0 G l a d s t o n e S t r e e tC L O N M E L , C O . T I P P E R A R Y
S H A N N O N S C A N L O N +353 1 637 [email protected]
28 Burlington Rd,Dublin 4Ireland
S O L I C I T O R
