Park Road, Mallow, Co. Cork, P51P280

Exceptional opportunity for investors and / or developers to purchase a fully let retail unit with secure long term rental income at well below replacement build cost. High profile retail unit in Mallow Town Centre. Approx. 1,252 sq. m. retail store on 1.2 acres with 65 car spaces. Fully let Cwire 9 Ltd (t/a Chemist Warehouse) on a 20 year FRI lease from 22 May 2023 with 5 yearly open market rent reviews and no break option. Secure rental income, currently producing €115,000 per annum (€8.53 per sq ft). Excellent international tenant - Chemist Warehouse is the largest pharmacy group in Australia, opening their first store in Melbourne in 2000 and now operating over 500 stores in Australia, 50 stores in New Zealand and 7 stores in China, employing over 20,000 staff. It prides itself on offering discounted prices for pharmaceutical goods, bringing a unique and affordable shopping experience to its customers, €expanding its presence in Ireland, with 9 stores open to date. Town centre location, with adjacent walk through access to Mallow Main Street, opposite Mallow Town Park, approx. 400m from Tesco Superstore. Re-development potential subject to planning permission - the property is zoned MW-T 01 'Town Centre / Neighbourhood Centre' in the Cork Development Plan 2022-2028: 'Promote the Town Centre as the primary area for retail and mixed use development, encourage sensitive re-furbishment / redevelopment of existing sites and promote public realm improvements. Take appropriate consideration of the Architectural Conservation Area designation. * ' Permitted in Principle Uses include: Retail, hotel, leisure facilities, residential and mixed residential..