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Kinnegad Town Centre, Kinnegad, Co. Westmeath

Price on Application Sold 2,096 sqm approx


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.

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