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Tipp Town Shopping Centre, Limerick Road, Tipperary, Co. Tipperary, E34 P958

  • Auction
  • Ireland
  • Retail
  • Commercial

Guide Price €1,600,000

Bidder Security €50,000 *fully refundable if unsuccessful bidder
Auction Date 21 March
Bidding Opens 08:00 (GMT)
Bidding Closes To be Confirmed

Property Viewings

Viewings have not yet been scheduled for this property.
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Property Summary

  • Modern purpose built Shopping Centre anchored by Dunnes Stores (not included in sale). 
  • Comprising ground and first floor retail, pharmacy and restaurant units together with separate car wash. 
  • Two development sites extending to approximately 0.48 hectares (1.19 acres) in total.
  • Benefits from free car parking with approx. 308 spaces.
  • Annual footfall 1.3m +
  • Retail units extending to approximately 1,707 sqm. (18,377 sq ft), in total.
  • Current passing rental income €229,485 per annum. 
  • 2 x vacant retail units extending to approximately 291sqm (2,711sq ft) providing asset management opportunity.
  • HOT's agreed on Unit 3 with Card Factory Ireland Ltd.
  • WAULT of 8.17 years to expiry.
  • NIY 13.04%
  • Tenants not affected

Contact Us

Richard Hoey
Richard Hoey
Property Agent, here to help.
Robert Hefferon
Robert Hefferon
Property Agent, here to help.
Rachel Rodgers
Vendor's Solicitor

Contact Us

Richard Hoey
Richard Hoey
Property Agent, here to help.
Robert Hefferon
Robert Hefferon
Property Agent, here to help.
Rachel Rodgers
Vendor's Solicitor

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Property description

Tipp Town Centre is a modern, purpose built shopping centre comprising a large anchor grocery store and a total of 9 retail and restaurant units over ground and part first floor. The property also benefits from the provision of circa 308 surface car parking spaces. and onsite car wash facility. The grocery store, Dunnes Stores, occupies their own unit and does not form part of this sale.

The entire development extends to approximately 1,707 sqm. (18,377 sq ft) and is producing an annual income of  €229,485 p.a. with approximately 291 sqm (2,711 sq ft) of lettable vacant retail space providing asset management opportunities. 

The asset is being sold with 2 x sites with potential development contained within folios TY52806F and TY60649F.  Site 1 is located to the rear of the car park and extends to approximately 0.32 ha (0.8 acres). Site 2 is located adjoining a garden centre and extends to approximately 0.16 ha (0.39 acres). 

Location

Tipp Town Shopping Centre is conveniently located, approximately 1km outside the town on the N4 Limerick Road at the Bohercrow roundabout.  The shopping centre is anchored by a 4,200 sq. m. Dunnes Stores with other large retailers present within the vicinity including SuperValu, Mr. Price, Lidl, and Tesco Superstore along with a number of independent retailers.Tipp Town Shopping Centre is the principal shopping centre in Tipp Town.

Tipperary Town is located along the N74 and N24 national roads, with

  • Limerick approx. 39km north west,
  • Cork 76 km south west
  • Waterford  approx. 76 km to the south east.

Tipperary Town is easily accessible via the national road network, as well as by bus via the Tipperary Town Bus station and Tipperary Town Train Station. 

Additional Details

UnitUseSize sq. m.Size sq. ft. OccupierLease Commencement Lease ExpiryBreak Option Current Passing Rent
 
1Retail1221,323En Paris 01/07/201730/04/2020  (overholding) *€ 18,708
1ARetail1151,243Speed Queen Launderette06/02/202406/02/2044Year 10 €14,000
2Retail1451,569Pure Pharmacy 08/01/201807/01/203308/01/2028€ 45,000
3Retail1311,408Vacant    **
4Retail 1151,245Vacant   -
5Restaurant 4755,111The Carvery Restaurant 01/02/200831/01/2033 € 91,000
5ARetail80870Smart Tech 09/12/202208/12/203208/12/2025€ 20,500
6Retail1371,466Vacant   -
7Retail3804,099DV809/10/201708/10/2027Rolling 6 month break***€16,877
Car Wash Car Wash NaNaY&D Car Wash 07/07/202106/07/2026License Agreement€ 12,000
Advertising Advertising NaNaClearhill 14/11/202213/11/2025License Agreement€ 2,400
Advertising Advertising NANaClear Channel10/10/202309/10/2029License Agreement € 8,000
Recycle Centre Recycle Centre NANaDunnes Stores 05/01/202404/01/1934License Agreement € 1,000
Total 1,707 Sq. M.18,334 Sq. Ft.     € 229,485

 

Please note there are landlord liabilities of circa €45,382  for vacant units 3,4,6 in regards to rates/service charges/insurance. 

*Unit 1A New 5 year lease issued to the tenants for signing. 

**Unit 3 terms agreed with Card Factory Ireland Ltd.  for a 5 year term with tenant break option at the end of Year 3. Base rent of €10,000 pa + 7% turnover top up, capped at €20,000 total. 

***Unit 7 passing rent based off an all inclusive deal (rent, service charges, rates & insurance) based on 10% of tenants annual turnover.

All intending purchasers are advised to satisfy themselves as to the accuracy of the measurements provided.

 

 

VAT

Please refer to Legal Documents

BER Rating

B2 - E1

BER Identification Number

Available From Bidx1

Energy Performance Indicator

198.54 kWh/m²/yr - 2016.62 kWh/m²/yr

Helpful links

*Terms & Conditions

No information, statement, description, quantity or measurement contained in any sales particulars or given orally or contained in any webpage, brochure, catalogue, email, letter, report, docket or hand out issued by or on behalf of BidX1 or the vendor in respect of the property shall constitute a representation or a condition or a warranty on behalf of BidX1 or the vendor. Any information, statement, description, quantity or measurement so given or contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the vendor are for illustration purposes only and are not to be taken as matters of fact. Any mistake, omission, inaccuracy or mis-description given orally or contained in any sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the vendor shall not give rise to any right of action, claim, entitlement or compensation against BidX1 or the vendor. All bidders must satisfy themselves by carrying out their own independent due diligence, inspections or otherwise as to the correctness of any and all of the information, statements, descriptions, quantity or measurements contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the vendor.

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