High Street, Tullamore, Co. Offaly

Asking Price: €575,000

Property Location

Tullamore is a busy mid-lands market town. It is the county town of Co. Offaly and has a population of 14,607 as per the 2016 Census of Ireland. Tullamore sits on the junction of the N52 and the N80, which together provide a link between Kilbeggan on the M6 and Portlaoise on the M7. The town lies 80 km west of Dublin city centre and is well served by both main line rail and Bus Eireann. The subject property is well located in the centre of the town and adjacent to the popular Bridge Centre shopping centre. It occupies a prominent position on the west side of High Street, midway between its junctions with Distillery Lane and Tara Street. This is a strong retail location with a high volume of passing pedestrian and vehicular traffic.

Property Description

The property comprises a refurbished, two storey over basement town centre building. Construction is of traditional masonry and block work with a plaster finish supporting a pitched slate roof to the front and a flat asphalt roof to the rear. The entire façade of the building is glazed which provides for an impressive shopfront directly onto the public footpath. Internally, the retail areas on both ground and first floors are decorated to a high standard. The basement area is presently used for storage.

Property Specification

• High street retail investment • Comprising a refurbished two storey over basement retail building • Occupied by A and K Fashions Limited t/a Guy Clothing • 10-year lease from 1st October 2014 • Current rent of €60,000 per annum • Tenants not affected • Guide Price €575,000 • Net initial yield 9.62%

Lease Terms

The property is occupied by A and K Fashions Limited t/a Guy Clothing, for a term of 10 years from 1st October 2014 at a rent of €60,000 per annum, exclusive of rates and VAT. The lease contains internal repairing and insuring covenants. There is a tenant break clause in Year 6, with a three month notice period required.

Property Size/Area

Total floor area of approximately 692.98 sq. m (7,459 sq. ft).

Title

Freehold

VAT

Any VAT arising as a result of the transaction will be the responsibility of the purchaser

BER Rating

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BER Number

800667222

Energy Performance Indicator

799.06 kWh/m²/yr 1.2

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