Sunday 18 March 2018

Retail units on offer in Clonmel centre

Peter Flanagan Commercial Property Editor

ONE of the flagship retail spaces in the centre of Clonmel has been re-launched on the market for sale or rent, after its asking price was cut by more than 15pc.

The property at 8-9 O'Connell Street in the centre of the Tipperary town is being offered "for sale" by private treaty or "to let" by way of a new lease.

The building now has a reduced sales price of €925,000 or €65 per square foot.

That is down just over 15pc on the original guide price for the unit when it hit the market last year. In October it was listed at €1.1m. Alternatively, it is available by way of a new long-term lease at a quoting rent of €110,000 per annum – a drop of 22pc on the previous quoting rent of €140,000 a year.

CBRE and Moynihan Curran are acting as joint agents for the property. Both firms said they expected "strong interest" in the property, which is made up of a three-storey over-basement building extending to around 1,328sqm.

The building provides a ground-floor retail area of about 451sqm and a first-floor retail area of some 435sqm. An escalator and lift are already in place.

CBRE's Shane Cahir said the building was "ideally suited" to a large space retail occupier and would "lend itself to a department store-style operator, fashion multiple, sportswear retailer or a convenience store".

The property is "prominently positioned in the heart of Clonmel," says CBRE.

Irish Independent

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