Back to site

©2022. All rights reserved.
Crafted by 4Property.

De La Salle Arcade & Cavandish Lane, Castlebar, Co. Mayo


Price
Price on Request

Type
Commercial

Status
For Sale

Brochure
View Now

Area
516 sq.m.

Description

EXCELLENT RETAIL INVESTMENT
(Tenants Unaffected)

FEATURES:
- Centrally located in high profile prime retail position opposite Tesco and Dunnes Stores
- Comprises 4 no. retail units within a two storey terraced block extending to 516sq.m
- Substantially let with current rent reserved of 47,800 p.a
- Active asset management retail investment with excellent long term potential
- Once fully let, offers attractive yield after costs of c 7.0%
- Of interest to investors and owner occupiers

LOCATION
Outstanding high profile retail location on the corner of Hopkins Road and Cavandish Lane. This is the premier retail location of Castlebar with a very strong retail line-up which in the immediate area includes Tesco, Dunnes Stores, Boots, New Look, Peter Mark, An Post and Argos.

Castlebar is the business and administrative centre of County Mayo. With a growing population of more than 12,000. The town has a broad and diversified employment base within includes Mayo University Hospital, The Atlantic University, Mayo County Council and Baxter. Castlebar is considered to be the second largest retail centre in Connaught after Galway. Road and rail connections are good being serviced with the N5, N59, N84 and main rail with a number of services daily to Dublin etc.

DESCRIPTION
Comprises 4 no. self-contained retails units set with a two storey terraced block. Located on a corner, the property has extensive road frontage onto Hopkins Road with return frontage onto Cavandish Lane. Built c. 20 years ago the building is constructed of a traditional rendered block under pitched slate roofs. All units are self-contained and have traditional timber and glazed shops fronts. The units are fully fitted out. Concrete staircases provide access to the upper floors and there is concrete floors throughout.

FLOOR AREAS
Floor Occupier Area sq.m Sq.ft Total
Ground Vacant (formerly Lifestyle Sports) 149 1,600
First As above 149 1,600 3,200

Ground Staunton's Heath foods 60 645 645

Ground Turkish Barbers 89 960 960

Ground & First Vanilla Skin & Laser Clinic 70 750 750
516 5,555 5,555

TENANCY SCHEDULE
Unit Tenant Passing Rent /(ERV) Lease terms

Unit 1 Staunton's Health Foods 18,600 25 year lease from 1st April 2018
Unit 2 Turkish Barbers 19,200 10 year lease from 2nd Nov. 2019
Unit 3 & 4 Vacant - (Formerly Lifestyle Sports) 0 (30,000)
Cavandish
Lane Vanilla Skin & Laser Clinic 10,000 3 year lease from 20th Dec. 2015

SERVICES

We understand that all units are connected to main services which include, sewerage, water, electricity and telecoms.

RATES

To be advised

TITLE

Registered Freehold Title held within Folio MY75951F subject to 3 no. tenancies.

PRICE

POA

VIEWINGS & FURTHER INFORMATION

Strictly by prior appointment with the sole selling agents. Contact, Tuohy O'Toole (098) 28000. Gerard O'Toole

DIRECTIONS
The property is prominently located at the corner of Hopkins Road and Cavandish Lane in the town centre of Castlebar.