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Digital Sale
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Units 1-8 Silverbridge Shopping Centre, Claremorris, Co. Mayo, F12 X4K0

  • Digital Sale
  • Ireland
  • Retail
  • Commercial

Sold

Sold for €1,525,000

Property Summary

  • Strong performing, service led, regional shopping centre 
  • Comprising of 8 retail units
  • Current passing rental income €182,600 p.a.*
  • NIY of 10.4% *
  • Potential for Reversionary Yield in excess of 13%
  • WAULT of 11.4 years*
  • Highly accessible surface car parking with approx. 385 spaces
  • Tenants not affected

Contact Us

Johnny O’Connor
Johnny O’Connor
Property Agent, here to help.
johnny.oconnor@bidx1.com
+353 (0) 86 380 1639
Nana Collins
Nana Collins
Property Agent, here to help.
nana.collins@bidx1.com
+353 (0) 86 877 3522
Legal Contact
Frank Cunningham
Vendor's Solicitor
fcunningham@osmpartners.ie
+353 (0) 1 691 5900

Contact Us

Johnny O’Connor
Johnny O’Connor
Property Agent, here to help.
johnny.oconnor@bidx1.com
+353 (0) 86 380 1639
Nana Collins
Nana Collins
Property Agent, here to help.
nana.collins@bidx1.com
+353 (0) 86 877 3522
Legal Contact
Frank Cunningham
Vendor's Solicitor
fcunningham@osmpartners.ie
+353 (0) 1 691 5900

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Property description

Silverbridge Shopping Centre is a modern, purpose built shopping centre comprising of a large anchor grocery store and 8 mall fronting retail units. The grocery store, Tesco, occupies their own unit and does not form part of this sale.

The centre generates footfall from the immediate Claremorris area and due to the strength of the Tesco Superstore offering the catchment extends to the greater Mayo, Roscommon and Galway border areas.

All units are situated on the Ground Floor and range in size between 365 sq ft and 2,311 sq. ft. These front onto a double height, covered mall which is naturally lit through the glazed mall roof.

Silverbridge Shopping Centre is a service led retail centre, offering a range of retail uses including Pharmacy, Café, Newsagent, Health Store and Hair and Beauty.

A management company is in place who is responsible for the management and upkeep of the common areas, therefore the centre has been well maintained and kept in very good condition. 

The common areas and car park do not form part of the sale.

 

Location

Silverbridge Shopping Centre is located in Claremorris, a town situated in the south of Co Mayo, with a population of approx. 3,687 people according to the 2016 Census. 

Claremorris is located along the M7, with

  • Castlebar approx. 26 km to the west,
  • Tuam 28 km south and
  • Roscommon town approx. 50 km to the east.

Claremorris is easily accessible via the national motorway and road network as well as by train via the Dublin - Westport rail service.

Silverbridge Shopping Centre is situated at the northern end of Claremorris town centre with convenient access directly off the N60.

Retailers present within the town include Aldi, SuperValu and a number of independent retailers.

Tenancy

There are 6 tenancies in place as outlined in the table below. Further details are included in the legal pack. 

Unit NoSize
Sq. Ft.  		Occupier

Lease Start

Lease End / Break Option

Current Annual Rent
12,311TPOS Healthcare Limited01-Sep-2131-Aug-31€47,500
2635Honeybee Health Food Store26-Apr-2127-Apr-25€15,600
3365David Martin Hairdressing05-Jan-1104-Jan-36€15,000
4850Vacant - Terms Agreed with Kelco t/a Vodafone--€0
51,528Vacant (previous Jack Dylan Jewellers)--€0
61,528Daily’s Newsagents26-Nov-0725-Nov-32€29,000
7*1,507The Food Store*01-May-0830-Apr-33€32,000*
81,399O’Hehir’s Café14-Apr-0814-Apr-33€42,000
Totals10,123   €182,600

* Unit 7

We have been advised that the tenant has served a notice to break the lease, vacated the premises and no longer trades from the unit. The Landlord has not accepted the break notice and challenges the notice's validity. Please refer to legal documents for details.

Unit 4:

Terms agreed with Kelco communications t/a Vodafone. €22,000 p.a., 10 year lease with break at year 5. Currently in legals.

VAT

Please refer to Legal Documents

BER Rating

B3 - D2

BER Identification Number

800649931

Energy Performance Indicator

198.51 kgCO2 /m²/yr

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*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 interested parties 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.