Prime retail in Waterford City asking close to €1.25m
TWM have been retained as agents for an investment property in Waterford City with an asking price in the region of €1.25m.
The property comprises what TWM describe as a "prominent building extending to 442.77 sq.m (4,766 sq ft)."
The property is occupied in its entirety by Tommy Hilfiger and is located on Barronstrand Street.
Tommy Hilfiger is currently paying an annual rent of €125,000 per annum under the terms of a 25 year lease agreement from March 2014 subject to five yearly break options. The three storey building has been extensively refurbished in recent years to provide high quality retail accommodation at ground and first floors with ancillary accommodation overhead.
Barronstrand Street together with adjoining Broad Street and John Robert Square form part of the retail core of Waterford City. This vibrant city is home to many national and international occupiers; including Penneys, Boots, Debenhams, and River Island.
Good interest is expected from property investors looking to secure high yielding investments," said TWM's Sarah Winters.
The asking price reflects a net initial yield of 9.57pc.