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Kinnegad Town Centre, Kinnegad, Co. Westmeath

Price on Application Sale Agreed 2,096 sqm approx

Description

Excellent investment opportunity located in Kinnegad, Co. Westmeath. The Kinnegad Town Centre comprises a neighborhood centre which is anchored by Eurospar grocery store along with 6 ground floor retail units and 7 first floor apartments. Five of the retail units are occupied with two currently vacant. The development services the surrounding population and is occupied by Eurospar, Kinnegad Dry Cleaner, Hairdresser, Euroworld and McTiernans pharmacy. There are seven apartments on the first floor of the development located to the rear accessed from the Mullingar Road. Each of the apartments are vacant and comprise six 3 bedroom apartments and one 1 bedroom apartment. There are approximately 50 car spaces to the side and rear of the development. Current rent receivable of €173,560 per annum with two retail units currently vacant. The Eurospar lease is guaranteed for its duration by BWG Group. The entire residential element of the development is currently vacant. This investment opportunity represents an attractive price with extensive asset management opportunities and opportunity to increase the current rent receivable through the letting of the vacant units. The development is also capable of being split and disposed of in separate parts by a purchaser. We are seeking offers in excess of €2,000,000 equating to a Net Initial Yield of 8.31%, assuming standard purchasers costs of 4.46%.

BER Information

  • Rating: BER B3E2
  • Certificates are available from the agent.

Similar Properties

27 Pearse Street, Athlone, Co. Westmeath

€275,000 - Asking Price|185 sqm approx

Tenants not Affected - 27 Pearse Street is a modern retail / office building which was constructed in 2007 as part of the Bastion Court development. The property is divided into three separate units with a seperate retail unit and office on the ground floor and a second office unit at first floor level. Currently the office on the ground floor is tenanted. This is an ideal investment property or also suitable for someone looking for a place to locate their own business too while also having an income stream from the remainder of the property. Secure carparking included.

BER C2 Rating