Charleville Town Centre, Charleville, Co. Cork

HIGHLIGHTS Unique opportunity to acquire a substantial purpose-built commercial town centre investment. Mixed use property comprising of retail units, office units, a restaurant, and an apartment Approx. 4,197 sq m (45,177 sq ft) Multi-storey car park with 450 car parking spaces. Anchored by Dunnes Stores Other occupiers include Lloyds Pharmacy and Elverys Sports complimented by long- standing local occupiers Landmark development in a superb location in Charleville’s town centre just off the N20 Cork to Limerick Road, with 15,600 vehicles passing daily. Currently producing €521,453 per annum with potential for income growth. The centre is fully managed and the common areas have recently undergone a full refurbishment. 80% occupancy with extensive asset management opportunities Strong footfall driven by the significant surrounding residential population. WAULT to expiry 10.8 years & WAULT to break 2.8 years. Dunnes Stores and Elverys Sports do not form part of the sale The Opportunity The property, which was developed C. 2007, comprises a purpose built commercial town centre development comprising 13 no. retail units, 1 no. Cafe, 1 no. restaurant, 9 no. office units and a two bed duplex apartment. Retail The retail units front onto a part covered pedestrian street which has access from Main Street to its western end and Bakers Lane to its eastern end. The retail units range in size from approx. 811 sq ft to 5,900 sq ft and have the benefit of extensive glazing onto the main open air retail throughfare/plaza. There is an opportunity to secure a tenant for the available restaurant unit which extends to approx. 3,000 sq ft and is located between Elverys Sports and Dunnes Stores Offices Seven of the office units front onto Bakers Lane. The units are self-contained with their own independent access. The offices are fully fitted and are laid out over ground and first floor level. These office units range in size from approx. 752 sq ft to 1,046 sq ft. The other two office units are situated on the first floor with retail units at ground floor level fronting onto the pedestrian shopping street. These office units are approx. 2,852 sq ft and 3,000 sq ft. These offices have lift and disability access. The Town Centre Charleville Town centre serves as the main commercial hub for the local community / surrounding hinterland and has an average annual footfall in excess of 750,000 customers. The town centre is anchored by Dunnes Stores who own their own store which extends to approximately 54,000 sq ft. Elverys Sports also have their own store in the town centre.* *Dunnes Stores and Elverys Sports do not form part of the sale Car Parking The development has the benefit of a multi storey car park with 450 car parking spaces which serves as the primary off street car park for the entire Town and generates footfall through the centre. The car park is accessed from Bakers Lane and has travelators linking all levels of the car park to the retail area. Location Charleville Town is located on the main Cork/Limerick N20 Road approximately 60km north of Cork city and 40km south of Limerick city with a population of approximately 3,970 (CSO 2022), making it a key stop between the two cities. The subject property is situated in the heart of the town in Charleville town centre on the eastern side of the N20 Cork to Limerick Road. The property has pedestrian access from Main Street and vehicular access from Bakers Road to its eastern boundary, making it easily accessible from both the town centre and the bypass roads. The centre serves as the main commercial hub for the local community and the surrounding hinterland. Charleville town is serviced with a Primary Care Centre and SuperValu, Aldi and Lidl all have a presence in the town. There are 2 no. service/ filling stations, 3 no. car show rooms and the Charleville Park Hotel. Charleville has four primary, and three secondary schools. Kerry Foods is a significant employer in the area with a food production facility situated on approximately 40 acres on the edge of the town. Charleville Town has a catchment of 82,000 people within a 30-minute drive time of the asset. Charleville train station is within walking distance and bus services link the Town Centre to both Cork and Limerick via routes 51 and 320.