FOR SALE BY PRIVATE TREATY THE HEART OF WATERFORD CITY C2 15/16 GREAT GEORGES STREET WATERFORD F
& Premier retail pitch in Waterford City s pedestrianised zone Fully let to Argos Distributors (Ireland) Ltd 10 year lease from 3 October, 2016 at 200,000 per annum Tenant break option in year 5 Parent company guarantee from Argos Limited Excellent retail unit with shop frontage of 14.8m Located opposite Penneys new flagship store Other local occupiers include Boots, Pandora, Clarks, Tommy Hilfiger and River Island High yielding and attractive lot size Tenant not affected EXECUTIVE SUMMARY
MICHAEL STREET MEAGHER S QUAY Waterford City has a population of 48,369 a 3.5% increase on 2011 census (Census 2016) The county population increased by 1.4% to 68,032 Thomas Hill O CONNELL STREET Meetinghouse Ln 15/16 GREAT GEORGES STREET KINGS TERRACE GLADSTONE STREET GREAT GEORGES STREET LITTLE PATRICK STREET LITTLE PATRICK STREET MEAGHER S QUAY BARRON STRAND STREET Broad St Broad St BLACKFRIARS ST Arundel Ln Catherdral Ln ARUNDEL SQUARE CONDUIT LANE HIGH STREET The retail catchment area of Waterford extends to Wexford, Carlow, Kilkenny & Tipperary PATRICK STREET PATRICK STREET Alexander St Lady Lane ARUNDEL SQUARE LOCATION 15-16 Great Georges Street is located in the prime retail area of Waterford city centre which is the pedestrianised areas of Georges Street, Broad Street and Barronstrand Street. All 3 streets converge at John Robert Square; where a number of high street retailers are represented. Waterford City Council has commenced a major programme of public realm improvement works that will initially see over 9.5m invested in the City Centre.
EXCHANGE STREET OLAF STREET KEIZER STREET HENRIETTA STREET CUSTOM HOUSE QUAY City Square Shopping Centre with occupiers such as Debenhams, Next, River Island, Early Learning, Specsavers and Dunne s Stores along with George s Court Shopping Centre are all within this pedestrianised zone. Other occupiers in the immediate area include Penneys, Mothercare, Tommy Hilfiger, Pandora, Lifestyle Sports, Pamela Scott and Foot Locker. The area is well served by McDonalds, Supermacs, Costa, Starbucks and local traders. Lady Lane SPRING GARDENS
DESCRIPTION 15-16 Great Georges Street has an extensive ground floor retail presence with external frontage of 14.8 meters. The upper levels provide ancillary staff facilities and generous storage accommodation, the property has rear access and loading facilities from Jenkins Lane. Internally the ground floor is laid out to provide a main retail area to the front with extensive storage accommodation to the rear. ACCOMMODATION Murphy Surveys assignable report January 2018 SQ.M. SQ.FT. Ground floor retail 590.4 6,355 First floor stores 189.8 2,043 Second floor stores 708.5 7,626 1,488.7sq m 16,024sq ft ACCOMMODATION FOR RENT REVIEW PURPOSES: SQ.M. SQ.FT. Ground floor retail 629.04 6,771 First floor stores 0 0 Second floor stores 278.71 3,000 907.75 sq m 9,771 ft TENANCY SCHEDULE Tenant Guarantor Lease Start Date Lease Term Break Date Break Notice Next Rent Review Argos Distributors (Ireland) Limited Argos Limited 3rd October 2016 10 years 2nd October 2021 Not less than six months Assignable building and measurement surveys are available on request. Contracted Rent p.a. 3rd October 2021 200,000
Zoning City Centre Commercial and Core Shopping Area Opportunity Sites under the Waterford City Development Plan 2013-2019 BER Rating F F BER number, Energy Performance Indicators & Full Building Energy Rating Certificate available on request. Title Freehold VAT We understand VAT is applicable on this sale by way of Transfer of Business Relief Proposal Offers are sought in excess of 1,800,000 equating to a Net Initial Yield of 10.24% assuming standard purchaser costs of 8.46%. Viewings Strictly by appointment with the sole selling agents, please contact Patricia Ward or Michele Jackson at TWM. 4/5 Dawson Street D02 FH72 Ireland Patricia Ward T: +353 1 611 0324 M: +353 86 243 7912 E: patricia@twmproperty.ie Michele Jackson T: +353 1 611 0323 M: +353 86 857 2700 E: michele@twmproperty.ie Deirdre Griffin T: +353 1 649 2233 E: dgriffin@algoodbody.com TWM for themselves and for the vendor/lessor of the property whose agents they are, give notice that: 1.These particulars do not constitute an offer or contract or any part thereof and none of the statements contained in the particulars as to the property are to be relied on as a statement or representation of fact. 2. The vendor does not make or give, nor is the Agent(s) or its staff authorised to make or give any representation or warranty in respect to this property. 3. All descriptions, dimensions, references to condition and necessary permission for use and occupation, and other details are given in good faith and are believed to be correct but any intending purchaser or tenant should not rely on them as statements or representations of fact but must satisfy himself/herself by inspection or otherwise as to the correctness of each of them. 4. In the event of any inconsistency between these particulars and the contract of sale, the latter shall prevail. 5. VAT may be payable on the purchase price. PSRA No: 001835