Ormonde Centre, Gladstone Street, Clonmel, Co. TipperaryAMV: €1,600,000 C2

Investment Property For Sale By Auction

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Lot Number

28

Description

  • The Ormonde Centre is a modern retail development in the heart of Clonmel.
  • The property comprises a part three storey, part single storey development offering both retail and office accommodation.
  • Extending to approximately 3,140 sq. m (33,810 sq. ft) in total.
  • Established access and significant dual glazed frontage onto both Gladstone Street and the town centre car park.
  • Subject to 2 x tenancies.
  • Cresslough Ltd t/a DV8 - 15 year lease from 2012
  • Twenty Twenty Retail t/a 6th Sense - 15 year lease from 2011
  • Total current rent 120,000 per annum (after T/O allocation).
  • 80% of floor space is vacant, offering significant opportunity to enhance return.

The property comprises a part three storey, part single storey development offering both retail and office occommodation in the heart of Clonmel Town Centre.  The Ormonde Centre was completed in 2010 and is constructed to a high standard providing bespoke retail and office accommodation.The accommodation comprises approximately 2,165 sq. m (23,310 sq. ft) of retail accommodation and 975 sq. m (10,500 sq. ft) of office accommodation.  The development is part fully fitted and part shell and core, approximately 743 sq. m (8,000 sq. ft) of the vacant accommodation is fully fitted.Access to surface car parking is located to the rear of the development which is one of the main Local Authority car parks.

Cresslough Ltd t/a DV8 - 15 year lease from 2012 - Rolling break option from end year 3 - Current rent 85,000 per annnum (10% T/O allocation).Twenty Twenty Retail t/a 6th Sense - 15 year lease from 2011 - Rolling break option end year 5 & 10 - Current rent 35,000 per annum (10% T/O allocation).

Negotiator

Gillian Earley

BER Details

BER: C2
Available upon request  370.38578.61kWh/m2/yr

Auction Location

Online - BidX1

Auction Time

2021-12-10 10:00