Cashel Town FOR SALE. In one or two lots SHOPPING CENTRE. CASHEL TOWN SHOPPING CENTRE, Cashel, Co. Tipperary

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Brianna Cox
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1 Cashel Town SHOPPING CENTRE FOR SALE In one or two lots TESCO PETROL FILLING STATION, Cashel, Co. Tipperary CASHEL TOWN SHOPPING CENTRE, Cashel, Co. Tipperary SHOPPING CENTRE INVESTMENT OPPORTUNITY ON THE INSTRUCTIONS OF DECLAN TAITE, STATUTORY RECEIVER

2 QUICK LOOK... The centre 6,537 sq m Scheme 3,511 sq m Tesco WAULT of 10.9 years to Tesco 342 Car Spaces Only significant purpose-built retail centre in Cashel The people 12,830 Primary Catchment Population (2011 Census) 46.75% ABC1 4,596 Households Annual Spend* relevant to Cashel Town Shopping Centre 52,205,435 The occupiers Anchor Tesco Passing Rent 821,646 2 SHOPPING CENTRE INVESTMENT OPPORTUNITY

CASHEL TOWN SHOPPING CENTRE R505 R660 R505 ROCK OF CASHEL R639 R691 BELFAST CASHEL R932 R639 GALWAY DUBLIN R692 N74 M8 R639 CASHEL CORK M8 N74 R688 Cashel is a historic town located in southern

3 CASHEL TOWN SHOPPING CENTRE R505 R660 R505 ROCK OF CASHEL R639 R691 BELFAST CASHEL R932 R639 GALWAY DUBLIN R692 N74 M8 R639 CASHEL CORK M8 N74 R688 Cashel is a historic town located in southern Tipperary which has a population of just over 4,000 people. It is 95 kms north of Cork and 160 kms south west of Dublin. The scheme is located on the south side of Cashel Town centre on the Cahir Road between the town centre and junction 9 of the M8 motorway. 3 SHOPPING CENTRE INVESTMENT OPPORTUNITY

Description The 6,537 sq m two storey scheme is the only significant purpose-built retail centre in Cashel and is anchored by a 3,511 sq m Tesco.

facilities. There are 342 surface car parking spaces with direct access into the shopping mall.

car park. The scheme is predominantly unlet providing significant asset management upside.

4 Description The 6,537 sq m two storey scheme is the only significant purpose-built retail centre in Cashel and is anchored by a 3,511 sq m Tesco. The scheme opened in late 2008 and offers good quality units in a convenient layout within walking distance of the town centre and excellent free parking facilities. There are 342 surface car parking spaces with direct access into the shopping mall. The retail units are spread over two levels with an impressive dual height galleried area overlooking the lower level where the anchor unit sits under the car park. The scheme is predominantly unlet providing significant asset management upside. A standalone Tesco petrol filling station on the western side of the Cahir Road between the shopping centre and junction 9 on the M8 motorway is also included in the sale. This is situated on a site of 2,562 sq m. 6,537 sq m Scheme 3,511 sq m Tesco 4 SHOPPING CENTRE INVESTMENT OPPORTUNITY

5 CASHEL TOWN SHOPPING CENTRE Rock of Cashel Cashel Town Centre The Green The Green Deerpark Road Old Road Spafield Crescent Cashel RFC Cahir Road Tesco Petrol Filling Station *For guidance purposes only. 5 SHOPPING CENTRE INVESTMENT OPPORTUNITY

6 Catchment Details The catchment area for Cashel Town Shopping Centre falls within a 15 minute drive-time capped by competing offers located in the towns of Thurles, Tipperary and Clonmel. The population of this catchment was 12,830 persons at the 2011 Census, representing a 10.74% increase since the previous Census in 2006, far exceeding the national average. This was the third consecutive Census since 2002 in which there was a positive population growth rate experienced. Census Population National Average % Change % Increase since previous Census 2002 Census 10, % 5.49% 2006 Census 11, % 8.46% 2011 Census 12, % 10.74% LIMERICK BIRDHILL R505 TEMPLEMORE THURLES M8 R639 BALLINGARRY KILKENNY M9 The demographic profile of the catchment can be categorised as follows; 46.75% of the catchment is within the top tier social class of professional, managerial, technical and non- manual workers (ABC1) % of the catchment is in employment. A further 36.15% are students, retired or dedicated to home duties, which is slightly above the national average. 38.3% of the catchment has completed third level or vocational education. There are a total of 4,596 households within the catchment, which represents an average household of 2.79 persons. This is on a par with the national average household size of 2.78 persons. 614 new housing units were developed between representing a 13% increase which is above the national average. According to Gamma*, the total annual household spend within the defined catchment is in the region of 161 million. This includes expenditure which is not relevant to goods and services that would be common in a shopping centre environment similar to Cashel Town Shopping Centre. The spend has been refined to reflect expenditure categories that are relevant to Cashel Town Shopping Centre. Category of Spend Annual Spend Relevant to Cashel Town Shopping Centre Clothing & Footwear 6,859,512 Drink & Tobacco (at home only)** 6,849,395 HERBERTSTOWN N74 R932 TIPPERARY N74 M8 CASHEL M8 CAHIR CLONMEL FETHARD M9 R692 Food Consumed at Home** 21,994,223 Household Durables** 3,439,577 Household non-durable 3,664,760 Other Misc. Expenditure** 9,397,968 TOTAL 52,205,435 MITCHELSTOWN * Annual spend is based on the 2011 Census and Household Budget Survey 2009/2010, adjusted by Gamma annually in line with the CSO CPI January data release. ** Spend categories have been adjusted to only reflect the nature of goods and services that are relevant to Cashel Town Shopping Centre. Primary Catchment 30 minute drive-time 6 SHOPPING CENTRE INVESTMENT OPPORTUNITY

7 CASHEL TOWN SHOPPING CENTRE 7 SHOPPING CENTRE INVESTMENT OPPORTUNITY

8 Scheme Floor Plans Ground Floor First Floor CAHIR ROAD Travelator CAHIR ROAD Void Travelator Toilets O Dwyers Pharmacy SPAFIELD CRESCENT SPAFIELD CRESCENT Retail Units Anchor Not to scale for guidance purposes only 8 SHOPPING CENTRE INVESTMENT OPPORTUNITY

Tenancy Schedule Unit Tenant Area Sq M Lease Start Lease End Term

Anchor Tesco Ireland 3,511 24/11/08 23/11/33 25 01/09/27 801,125

163,750 163,750 N/A 9 O'Dwyer's Pharmacy 250 01/12/08 30/11/33 25

03/11/22 7 03/11/2018 & 02/11/2020 32,000 32,000 7,917 Totals 4,059

9 Tenancy Schedule Unit Tenant Area Sq M Lease Start Lease End Term Years Break Option Contracted Rent Passing Rent Service Charge Anchor Tesco Ireland 3,511 24/11/08 23/11/ /09/27 801, ,000 72,184 PFS Tesco Ireland 22/10/08 21/11/ /11/23 163, ,750 N/A 9 O'Dwyer's Pharmacy /12/08 30/11/ ,700 60,896 11,072 Office Suite Cordis Cashel Ltd /11/15 03/11/ /11/2018 & 02/11/ ,000 32,000 7,917 Totals 4,059 1,134, , ,173* *Landlord Liability 130,827 9 SHOPPING CENTRE INVESTMENT OPPORTUNITY

10 CASHEL TOWN SHOPPING CENTRE Tesco Petrol Filling Station 10 SHOPPING CENTRE INVESTMENT OPPORTUNITY

11 BER Certificate Contact Title The property is held under freehold title. Guide Price 6,500,000 million for the enitre. Offers for the Shopping Centre and Petrol Filling Station will be considered as separate lots. VAT Transfer of business relief will apply, in default joint option to tax will be exercised. Solicitor s Details Hambleden House, 19/26 Pembroke Street Lower, Dublin 2, Ireland. PSRA NO: Roderick Nowlan Director, Investment +353 (0) rnowlan@bannon.ie PSRA: St. Stephen s Green House, Earlsfort Terrace, Dublin 2, Ireland. PSRA NO: Margaret Kelleher Director mkelleher@lisney.com PSRA: Alexandra Patterson Associate, Investment +353 (0) apatterson@bannon.ie PSRA: Duncan Lyster Director, Investment dlyster@lisney.com PSRA: Viewings Viewings are strictly to be arranged through the joint selling agents. This is an investment sale and as a result tenants are not affected. RDJ Cork & Galway International House, 3, Harbourmaster Place, IFSC, Dublin (0) Ronan Daly Jermyn Patrick Ahern patrick.ahern@rdj.ie T: +353 (0) Further Information Detailed tenancy schedule and further information on the asset is available on request. PROPERTY MISREPRESENTATION ACT: The joint agents and the Vendor/Lessor give note that the particulars and information contained in this brochure do not form any part of any offer or contract and are for guidance only. The particulars, descriptions, dimensions, references to condition, permissions or licences for use or occupation, access and any other details, such as prices, rents or any other outgoings are for guidance only and are subject to change. Maps and plans are not to scale and measurements are approximate. Whilst care has been taken in the preparation of this brochure intending purchasers, Lessees or any third party should not rely on particulars and information contained in this brochure as statements of fact but must satisfy themselves as to the accuracy of details given to them. Neither Bannon, Lisney nor any of their employees have any authority to make or give any representation or warranty (express or implied) in relation to the property and neither Bannon, Lisney nor any of their employees nor the vendor or lessor shall be liable for any loss suffered by an intending purchaser/lessees or any third party arising from the particulars or information contained in this brochure. Prices quoted are exclusive of VAT (unless otherwise stated) and all negotiations are conducted on the basis that the purchasers/lessees shall be liable for any VAT arising on the transaction. All maps produced by permission of the Ordnance Survey Ireland Licence No AU Government of Ireland. Brochure designed by 11 SHOPPING CENTRE INVESTMENT OPPORTUNITY

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