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€1,000,000
294 sqm
Lloyds Pharmacy
Charleville Shopping Centre
Charleville
Co Cork
Description
-High profile retail unit extending to 3,165 sq. ft
-Compact easily managed investment opportunity with secure rental income
-Gilt edged covenant provided by Lloyds / McCabes Pharmacy which is owned by PHOENIX group. Europe's leading pharmaceutical wholesale and retail company.
-Strong Rental Income of €180,000 per annum exclusive
-FRI Lease of 25 years from October 2008 incorporating upwards only rent reviews
-Secure Income guaranteed by Lloyds Pharmacy of 7.5 years making this a strong private pension investment
-High Yielding Investment with an attractive Net Initial Yield of 16.3%
- Strong footfall driven by the significant surrounding residential population and high levels of occupancy within the centre (Anchor Store, Dunnes Stores)
-Multi-storey car park with 450 car parking spaces
-Landmark development in a superb location in Charleville's town centre just off the N20 Cork to Limerick Road, with 15,000 vehicles passing daily.
The Opportunity
The property comprises a high profile retail unit in Charleville town centre and is located directly opposite Dunnes Stores. The retail unit fronts onto a partially covered pedestrian street which has access from main street to its western end and bakers lane to its eastern end. The retail unit has the benefit of extensive glazing onto the main open air retail throughfare/plaza.
Location
Charleville is located on the main Cork/Limerick N20 Road, approximately 60km north of Cork city and 40km south of Limerick city, making it a key stop between the two cities.
Charleville town is serviced with a Primary Care Centre and SuperValu, Aldi and Lidl all have a presence in the town. There are 2 no. service/ filling stations, 3 no. car show rooms and the Charleville Park Hotel. Charleville has four primary, and three secondary schools. Kerry Foods is a significant employer in the area with a food production facility situated on approximately 40 acres on the edge of the town. Charleville Town has a catchment of 82,000 people within a 30-minute drive time of the asset. Charleville train station is within walking distance, and bus services link the Town Centre to both Cork and Limerick via routes 51 and 320.
About the Area
Charleville is a market town near County Cork's border with Limerick set in the middle of very rich agricultural land. It was founded in the 1660s by Roger Boyle, the first Earl of Cork who named the town after King Charles II. Today it's generally known as Charleville. Éamonn de Valera, Ireland's first Taoiseach and former President went to the old Christian Brothers School in Charleville. The town is a centre for dairying and cheese processing based in the Golden Vale Co-op Creameries.
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