Search Results

Stradbally Shopping Centre, Main Street Stradbally, Co. Laois

Investment Property (31,991.00 sqft) Sale Agreed
of

Sale Agreed

Features

  • Modern retail & residential development (built 2007)
  • Anchored by Supervalu
  • 9 retail units and 10 apartments extending to approximately 31,775 sqft
  • Entire producing an income of €284,579 per annum
  • Guide price equates to a net initial yield of 9.08%
  • WAULT 10.5 years
  • Tenants not affected

Location

The subject commercial / residential development is located on the eastern side of Main Street within Stradbally town, which is located approximately 12 kilometres southeast of Portlaoise and approximately 91 kilometres southwest of Dublin. Stradbally is located along the N80 national secondary road (Portlaoise-Carlow) and acts as a local service centre to the predominantly agricultural hinterland. The layout of Stradbally is that of a long linear street with two squares on the western side, Market Square and Courthouse Square. 

The population of Stradbally is 1,629 persons according to the CSO Census 2011.  The primary function of Stradbally is to provide as a service centre for the surrounding agricultural hinterland and it also hosts an annual high profile steam rally and in recent years the Electric Picnic Music and Arts Festival.

The local road network provides access to M7 motorway (Portlaoise-Dublin route) approximately 10 kilometres to the west of the town.  Although Stradbally is not located along a rail line, such services are available in nearby towns Portlaoise and Athy.

Full Description

The development was built in 2007 and provides for 9 retail units, 15 apartments, and over eighty communal car parking spaces. Five of the apartments were previously sold off individually. The remaining buildings extend to approximately 2,972 Sq.M (31,991 Sq.Ft) in their entirety.

The retail scheme is anchored by DC Supermarkets Ltd trading as Supervalu. Other occupiers include Chemco Pharmacy, An Post, Stradbally Fayre, and The Arch (takeaway) amongst others. The combined income from the commercial element is currently €240,911 per annum.

Each of the overhead apartments has two bedrooms and is laid out over two floors with an average size of approximately 847 Sq.Ft. One of the apartments remains in shell and core condition and is approximately 1,500 Sq.Ft. The total residential income at present is €43,886 per annum, with the average apartment let at €5,460 per annum.

Viewing Details

By special appointment with the sole letting agent, Lisney.

Accommodation

    Commerical

    Unit Tenant Current Rent Size (sq.ft) Lease Start
    1 Hair Salon €8,729 622 18/04/2012
    2 Cafe Restaurant €18,000 434 06/11/2007
    3 Combined with unit 2 €4,200 1,132 01/01/2016
    4 Arch Takeaway  €15,960 654 20/04/2009
    5 Pharmacy €45,000 1,388 25 years from 30/12/2008
    6 Supermarket t/a Supervalu €130,000 15,846 25 years from 23/07/2007
    7 Barbers €5,495 333 01/03/2015
    9 Andy's Furniture €5,495 1,312 01/07/2013
    10 Beauty Salon  €8,032 1,000  
      Total    22,721  

     

    Residential 

    Unit  Current Rent Size (sq.ft) Lease Start
    3   786  
    4 €5,460 741 04/02/2014
    5 €5,700 761 13/06/2014
    7 €4,800 871 19/05/2011
    9 €5,400 893 08/07/2015
    10 €5,460 872 17/10/2014
    12 €5,688 882 11/01/2013
    14 €5,700 884 14/01/2011
    15 €5,460 716 17/10/2014
    11/Shell & Core Vacant  1,647  
    Total   9,053  

BER Details

BER: B3-G

Contact Details

Address: St Stephen's Green House, Earlsfort Terrace, Dublin 2
Telephone: +353-1-638 2700 or you can also email us at dublin@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.

Please note we have not tested any apparatus, fixtures, fittings, or services. Interested parties must undertake their own investigation into the working order of these items. All measurements are approximate and photographs provided for guidance only.