Castletroy Shopping Centre, Castletroy, Co. Limerick

Asking Price: €2,300,000

Property Location

Castletroy is a suburb of Limerick, and is the largest suburb in Munster. It is 6km from Limerick City Centre and 2km from University of Limerick. Castletroy shopping centre, is located off the Dublin road at Kilmurray roundabout and is within a 2hour commute from Dublin City Centre on the M7. It is 30 minutes, also by motorway, from Ireland’s second International Airport at Shannon; Cork is a 1.5 hour drive and Galway is one hour north of Limerick. Castletroy is one of the fastest-growing residential areas in Ireland. Its population is estimated at 32,506 people, of which 16,573 are students. Castletroy includes three primary schools Milford NS, Monaleen NS and Gaelscoil Chaladh an Treoigh, the secondary school, Castletroy College, and a number of hotels including the Kilmurry Lodge Hotel and Castletroy Park Hotel. Newtown local shopping centre, Parkway Shopping Centre and a Lidl are its closest competitors. The National Technology Park is home to some major business in Castletroy such as Vistakon, a contact lens division of Johnson and Johnson and Viagogo an online ticket marketplace for buying and selling tickets to live events.

Property Description

Castletroy shopping centre is a prime suburban retail development in Limerick, which extends to some 91,547 Sq.ft (8,504 m2) of retail space 2 floors together with 720 ancillary surface car parking spaces and includes SuperValu (Ireland) supermarket and 24 mall shops, McDonalds restaurant and an eight-screen cinema, called Odeon Cinema (Not included in the sale). We are advised that 18 of the Shopping Mall units are vacant, totalling approximately 27,000 sq. ft., equating to a vacancy rate of approximately 60%. Occupiers are mixed use including Lyods pharmacy, a florist, Post Office, fashion and Hairdressers. The surrounding area is predominantly residential in character and the subject property is located adjacent to the established residential areas of Castletroy, including Kilbane, Newcastle, Annacotty, Monaleen Heights, Monaleen Park and Shanbally.

Property Specification

Passing Rent €364,674

Property Size/Area

(8,504 m2 (91,547 Sq.ft.) / 5 ha (13 acres)

Service Charge

€4.30 per sq. ft.

Rates

TBC

Zoning

Zoned: Retail/Commercial/Community under the Castletroy LAP. The purpose of this zoning is to protect and enhance the character of Castletroy’s District and Neighbourhood centres and to provide for and improve retailing, residential, commercial, office, cultural and other uses appropriate to these centres, while guiding the development of an expanded consolidated town centre area.

Title

Freehold

VAT

VAT is applicable on the sale.

BER Number

Available upon request

Contact QRE


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