Unit 4 Loughrea Shopping Centre, Athenry Road, Cosmona, Loughrea, County Galway, Ireland

Details

Opportunity Highlights * Investment opportunity located in Loughrea Shopping Centre situated on the western side of Loughrea Town and anchored by Supervalu and Aldi * Unit 4 comprises a total floor area of 2,979 sq m over primarly ground with a small mezzanine level.
Ground floor extends to 2,549 sq m and mezzanine extends to 430 sq m * The unit is internally sub-divided and is let to a number of tenants including World of Wonder and PetStop (Tenants not affected) * The unit currently produces a rent of €104,840 per annum with substantial reversionary potential from two vacant retail spaces. * Parking for the shopping centre is by way of communal parking at ground and basement level * For sale by private treaty by sole agent Cushman & Wakefiled on the instruction of Kroll

The Location The subject property comprises a commercial unit located within Loughrea Shopping Centre. Loughrea is one of county Galway’s largest towns and is located approximately 40km southeast of Galway City. The town has a population of 6,322 (Census 2022) and is the commercial centre for a large hinterland and catchment area. Unit 4 forms part of Loughrea Shopping Centre which is situated on the Athenry Road on the northwest side of the town. The Athenry Road is one of the primary arteries connecting Loughrea with Galway City and the subject units enjoy extensive profile onto the road. The main access to the scheme is via the Athenry Road with ample communal surface and basement parking available.

Description Unit 4 is located within the Loughrea Shopping Centre. Constructed in 2012 the scheme consists of retail; office and leisure uses and is anchored by Aldi and Supervalu. Unit 4 consists of primarily single storey retail accommodation with mezz storage to the rear. The total ground floor area of the unit extends to 2,549 (27,437 sq. ft), with an additional mezzanine area of 430 sq. m (4,628 sq. ft). It is of steel frame construction with glazed frontage facing onto the main surface car park. Rear access for deliveries is via the Athenry Road. The unit has been subdivided to provide six separate retail units. Two of the units are currently vacant, while the remaining four units are occupied by a range of retail tenants under various lease terms (tenants not affected).