Reversionary Investment Opportunity in Carlow Town currently producing €165,000 per annum.
With a population of approximately 25,000, Carlow is strategically located on the N80 which links with the M9 (Dublin to Waterford Motorway).
Carlow Institute (4th largest IT in Ireland) is in walking distance and has over 7,000 students.
The property comprises 3 high profile retail units together with the rear carpark situated at Hanover Square, Kennedy Avenue opposite Carlow Shopping Centre. The old Penneys store is directly behind the subject property and is currently under refurbishment. The refurbished store is due to open next year and will substantially increase footfall in the locality.
Unit 1 is occupied by Corajio Unlimited t/a Mr. Price and extends to a Gross Internal Area of c.1,140 sq.m. It benefits from dual access from Kennedy Avenue and also the carpark at Hanover Square. It is held under lease for a term of 10 years, with break option at the end of year 5, from 1st October 2020 subject to a rent of €50,000 per annum.
Unit 2 is occupied by Kevin Kelly Chemists Limited. t/a Kevin Kelly Pharmacy and extends to a Gross Internal Area of c.272 sq.m. It benefits from a corner profile to Hanover Square and Kennedy Avenue. It is held under lease for a term of 25 years from 1st January 2006 and has outstanding rent review from 2019. The passing rent is €30,000 per annum.
Unit 3 is occupied by McDonalds Restaurants of Ireland Limited t/a McDonalds and extends to a Gross Internal Area of c.415 sq.m. It benefits from high profile to Kennedy Avenue. It is held under lease for a term of 35 years from 1st August 1999 and is subject to a rent of €85,000 per annum.
For more information please see Data room: https://kennedyavenuecarlow.com
For Sale by way of Private Treaty