FAIR GREEN, Macroom, Co. Cork, P12NP60

Exceptional opportunity for investors and / or developers to purchase a fully let retail unit with 15 year FRI secure reversionary rental income at well below replacement build cost. High profile retail unit in Macroom Town Centre. Approx. 1,641 sq. m. retail store on 0.75 acres with 84 car spaces. Agreement for Lease in place with An Post for 15 year lease commencing 15 April 2024 with CPI linked rent review in year 11 (3% cap and 1% collar). State backed rental income, with an initial rent of €123,648 per annum (€7 per sq ft) with a fixed increase to €130,000 per annum in year 6. Tenant break options at the end of years 7 & 12. Superb State tenant - An Post is a commercial organisation providing postal, distribution and financial services employing over 9,000 people across various business lines. Town centre location, beside a new Lidl store, and Dunnes Stores. Re-development potential subject to planning permission - the property is zoned objective MM-T-01 'Town Centre / Neighbourhood Centre' in the Cork Development Plan 2022-2028: 'Support primarily convenience retail uses in this ancillary retail area'. Permitted in Principle Uses include: Retail, hotel, leisure facilities, residential and mixed residential