Newcourt Centre, Church St. Cavan
Retail Unit
Price
1750,000
Type
Retail Unit
Area
1810 sq.m.
Status
Sold
BER
C1
Bedrooms
Bathrooms
Listed
Property Description:
Online Auction Date: 26th July 2023.
Substantial town centre, retail lead mixed use investment. Comprising a total of 16 ground, first and second floor retail, office and restaurant units together with 9 x surface car parking spaces. Extending to approximately 1,810 sqm (19,488 sq ft). Town Centre high footfall location. Total rent reserved of €192,000 per annum. NIY 9.97%. Potential RY 12.47%. Approximately 732 sqm (7,879 sq ft) of lettable vacant space available. Tenants not effected.
Newcourt Shopping Centre comprises a modern town centre, retail lead, mixed use investment opportunity. The property is arranged to provide a total of 16 retail, restaurant and office units over ground, first and second floor level. The property also benefits from the provision of 9 x surface car parking spaces. The entire development extends to approximately 1,810 sqm (19,488 sq ft) and is producing an annual income of €192,000 with approximately 732 sqm (7,879 sq ft) of lettable vacant space also suitable for residential conversion subject to obtaining the necessary planning consents. There is a total potential ERV of €240,000 per annum once vacant units are let. The centre benefits from a town centre location experiencing a high volume of footfall directly opposite Dunnes Stores at the northern end of Cavan Town. Newcourt Shopping Centre is situated in the centre of Co Cavan, with a population of approx. 10,914 people according to the 2016 Census. Cavan Town is located along the N3 and N55 national roads, with Kells approx. 48 km south east, Mullingar 62 km south and Dundalk approx. 75 km to the east. Dublin City approx. 117km south west via the N3 & M3. Cavan Town is easily accessible via the national road network as well as by bus via the Cavan Town Bus station. Newcourt Shopping Centre is situated at the northern end of Cavan Town centre directly oppostie Dunnes Stores with convenient access directly off the N3. Retailers present within the town include Halfords, Sports Direct, Aldi, Dunnes Stores, Lidl, and Tesco Superstore along with a number of independent retailers.
Property Features:
19488 sq. ft. Mixed Use Retail Development
Tenants Not Effected
Annual Income € 192,000
7879 sq. ft. of lettable vacant space
Total ERV potential € 240,000 with full occupancy
Tenants Not Effected
Annual Income € 192,000
7879 sq. ft. of lettable vacant space
Total ERV potential € 240,000 with full occupancy
