Abbey Road, Thurles, Co. Tipperary, E41N520

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 with extensive frontage to Abbey Road, Thurles. Approx. 1,639 sqm (17,643 sq ft) on 2.2 acres with 156 car spaces. Fully let to Jysk Limited (Guaranteed by LLG A/S) on a 10 year FRI from 24 February 2022 with an open market rent review at the end of year 5 (10% cap and collar). Deed of Renunciation in place. Excellent reversionary potential - current annual rent of €90,000 per annum (€5.10 per sq ft). Mutual break option in February 2027. 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%. Edge of town centre location, beside Circle K, approx. 300m from Thurles Train Station and 1.5km from Dunnes Stores and IMC Cinema. Re-development potential subject to planning permission - the property is zoned Mixed Use in the Draft Thurles LAP 2024-2028: "To support the role of the town centre and enable primarily; retail, commercial, civic and other uses." Permitted in Principle Uses include: Cash and Carry Wholesale, Commercial Leisure Related Buildings, Crèche / Nursey School, Doctor / Dentist, Educational, Enterprise Centre and Hotel / Motel.