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Charleville Town Centre, Charleville, Co. Cork

Investment Property (4,265.00 sqm) For Sale by Private Treaty
of

Price €1,950,000

Features

  • 450 car spaces.
  • 294 sq m Unicare Pharmacy T/A Lloyds Pharmacy with 16 years unexpired.
  • Anchored by Dunnes Stores.
  • Current actual rental income €180,000 per annum exclusive.
  • Substantial asset management opportunity.
  • Significant reversionary potential.
  • Offers for the Charleville Town Centre and Unicare Pharmacy investment will be considered as separate lots.
  • Tenancies are not affected.
  • 4265 sq m

Location

Charleville Town is located on the main Cork/Limerick N20 Road approximately 60km north of Cork city and 40km south of Limerick city with a population of approximately 4,000 (CSO 2011).

Charleville town is serviced with a newly built Primary Care Centre. Dunnes Stores as anchor of Charleville Town Centre with SuperValu, Aldi and Lidl also having a presence in the town. There are 2 no. service/filling stations, 3 no. car show rooms and the 4 Star Charleville Park Hotel. Charleville has four primary and three secondary schools and Kerry Foods are a significant employer in the local and hinterland areas with a food production facility situated on approximately 40 acres on the edge of town.


Full Description

The opportunity comprises a substantial purpose built commercial town centre development containing 17 no. retail units ranging from approximately 800 – 3,165 sq ft, 8 no. office units ranging from approx. 650 – 2,852 sq ft over ground and first floors , 1 no. first floor crèche extending to approx. 3,100 sqft, pub/restaurant extending to approx. 4,900 sqft and 1 no. 2 bed duplex apartment of approx. 850 sq ft.

7 of the office units front Bakers Lane and are laid out over ground and first floor with remaining office space and creche unit situated on the first floor with retail units at ground floor level and fronting the pedestrian shopping street. All available units are in shell and core condition. Dunnes Stores, who own their own store, is the anchor in the shopping centre and their premises extends to approx. 5,017 sq m (54,000 sqft), the scheme has 450 carparking spaces accessed from Bakers Lane and has travelators linking all levels of the car park to the retail areas. With the exception of Lloyds Pharmacy and Elverys Sports the scheme is predominately unlet providing significant asset management upside.

Viewing Details

By special appointment with the sole letting agent, Lisney.

Accommodation

    Tenancy Schedule
    Unit Tenant Area Sq M Lease Start Lease End Term Years Rent Per Annum Service Charge Per Annum
    12 Unicare Pharmacy Ltd., T/A Lloyds Pharmacy 294 13/10/08 12/10/33 25 €180,000 €9,530

     

    Note: Landlord Service Charge & Insurane Liability €138,470 p.a. excl. (current)

BER Details

BER: C1-G

Solicitor

Sheena Beale, Kane Tuohy Solicitors, The Malt House, North Grand Canal Quay, Dublin 2

Contact Details

Address: 1 South Mall, Cork
Telephone: +353-21-427 5079 or you can also email us at cork@lisney.com

Lisney for themselves and the Vendor/Lessor whose Agents they are give notice that:

1. These particulars do not constitute any part of an offer or contract.

2. All statements contained in these particulars as to this property are made without responsibility on the part of the Agents or the Vendor/Lessor and none of the statements contained in these particulars as to this property are to be relied on as statements or representations of fact.

3. The particulars, various plans, photographs, dimensions, references to condition and permissions for use and occupation  are given in good faith and are believed to be correct but their accuracy is not guaranteed and any intending Purchasers or Tenants shall satisfy themselves by inspection or otherwise as to correctness of each of them. No omission, accidental error or misdescription shall be ground for a claim for compensation or for the rescission of the contract by either the Vendor/Lessor or the Purchaser/Tenant.

  4. Neither the Vendor/Lessor nor Lisney nor any person in their employment has any authority to make or give any representation or warranty whatever in relation to the property. 5. Prices are quoted exclusive of VAT (unless otherwise stated) and all negotiations are conducted on the basis that the Purchaser/Tenant shall be liable for any VAT arising on the transaction. PSRA No. 001848.