Mill Road, Youghal, Co. Cork, P36HH76

Exceptional opportunity for investors and / or developers to purchase a fully let retail unit with secure reversionary rental income at well below replacement build cost. High profile retail unit in Youghal Town Centre. Approx. 1,354 sq m retail store on 2.3 acres with 110 car spaces. Fully let to Jysk Limited (Guaranteed by Jysk Holding A/S) on a 10 year FRI lease from 11 September 2019 with an open market rent review at the end of year 5 (10% cap). Deed of Renunciation in place. Secure rental income, currently producing €122,981 per annum (based on 4% of tenant turnover, equating to €8.44 per sq ft) subject to a base rent of €80,000 per annum. Excellent international tenant with a guarantor - Jysk is a Danish home retailer operating more than 3,300 stores in 50 countries. Their UK and Irish turnover was €106m in 2022, an increase of 11%. Town centre location, opposite a new Lidl store, approx. 300m to Tesco Superstore and 650 to Youghal's Main Street. Excellent development potential subject to planning permission - the property is zoned objective YL-T-03 'Town Centre / Neighbourhood Centre' in the Cork Development Plan: 'Support primarily convenience retail uses in this ancillary retail area' Permitted in Principle Uses include: Retail, hotel, leisure facilities, residential and mixed residential.