Unit 2 & 3, Market Cross SC, Kilkenny

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Unit 2 & 3, Market Cross SC, Kilkenny

Summary

Retail Investment situated in the heart of Kilkenny City Centre within Market Cross Shopping Centre
Occupied by Dealz on a new 10 year lease from March 2018
Passing Rent of €165,000 per annum
WAULT of 6 years

Location

Market Cross Shopping Centre is situated in the heart of the Kilkenny City and forms an intrinsic part of the city’s retail fabric comprising 45 retail units together with a 500 space multi storey car park.

The two level retail schemes was built in the early 1990’s and provides two uncovered retail malls with a focal point Central Square.

Notable occupiers in the scheme include SuperValu, Monsoon, Gamestop, Holland & Barrett and Penneys amongst others.

Kilkenny

Kilkenny City is the commercial base and administrative capital of the county. Kilkenny has a population (city & environs) of 26,512 persons (Census 2016). The city is positioned on the N10 national primary road which is accessed off the M9. Kilkenny has developed on either side of the River Nore.

The city is a popular tourist destination and as such commercial activity is focused on the tourism economy. Retail activity on High Street is typical of provincial centres with a large number of local and multinational retailers predominantly located within Market.

Cross Shopping Centre. High Street, the principle thoroughfare is a one way street running south to north from Kilkenny Castle to the Junction of Parliament Street. Occupiers along the thoroughfare include Argos, Permanent TSB, Monsoon (at entrance to Market Cross Shopping Centre), Boots, An Post and a number of other local and national retailers.

Significant employers within Kilkenny include Glanbia and brewing at St.Francis Abbey Brewery (Smithwicks). Retail warehousing is located in Kilkenny Retail Park (Waterford Road) and Ormonde Retail Park (Dublin Road), while industrial activity is centred around Hebron Business Park to the east of the town.

Description

The subject property comprises units 2/3, Market Cross Shopping Centre. It is occupied by Dealz , situated on the Square at the High Street level (lower ground level).

The property comprises a medium sized retail unit together with a disconnected but readily accessible remote storage unit.

The ‘L-shaped’ retail unit extends to a total net internal area of approximately 689.2 sq.m (7,419 sq.ft). The remote storage space extends to a further 99.1 sq.m (1,067 sq.ft).

Tenancy

The subject property is occupied by Poundland Ltd on a 10 year lease from 19th March 2018 with 5 yearly market rent reviews.

Tenant break option on the at the end of the 6th year (2024) of the term, subject to 6 months notice.

The contracted rent is €165,000 per annum exclusive.

Title

Long Leasehold

BER

BER Number: 800617466