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Sold
Units 135 and 137/a, The Square, Dublin 24
Two external retail units situated on busy thoroughfare between The Square and Tallaght Main Street.
- Unit 135 is let to Domino’s Pizza with c. 9 years unexpired at €74,880 p.a. with upwards only reviews.
- Unit 137/a is let to Mao at Home at low passing rent of rent of €25,000 p.a.
- Potential for Mao rent to double in 2017 at rent review (or on re-letting as tenant has break).
- Both units have shares in the shopping centre management company.
Location
The Square Town Centre is located approximately 9km South-West of Dublin City Centre and just 2km from the M50. The scheme is directly serviced by the Luas Red Line and 7 bus routes.
Tallaght and the greater Dublin 24 area indicates an immediate catchment of 213,240 (Source: 2011 Census). The Square is one of Ireland’s premier retail destinations since opening in the early 1990’s. The scheme is considered one of Dublin’s five major shopping centres on the M50.
The Square comprises of approximately 46,450 sq.m (500,000 sq.ft) of retail and leisure accommodation over 3 levels with 163 units. Annual footfall is in the region of 18 million.
Major occupiers include Dunnes Stores, Tesco, Argos, Boots, New Look, Dealz, River Island, H&M.
Description
Units 135 and 137/a are external units located next to the level 1 entrance to the shopping centre and adjacent to the multi-storey and surface car parks.
The units have excellent visibility and benefit from a high level of passing footfall coming to and from Tallaght Village.
Both units have regular floor plates and benefit from extensive shop frontage.
Neighbouring occupiers include Leo Burdocks, Aussie BBQ, Ladbrokes, Just Wing It, Body Talk and The Supplement Store.
Accommodation
| Unit | Area sq.m (NIA) | Area sq.ft (NIA) |
|---|---|---|
| 135 | 80.76 | 869 |
| 137/a | 135.14 | 1,455 |
| Totals | 215.90 | 2,324 |
*Interested parties should satisfy themselves as to the accuracy of the above floor areas.
Tenancy
| Unit | Tenant | Term | Commencement | Break | Contracted Rent | Rent Payable |
|---|---|---|---|---|---|---|
| 135 | Remo Foods Ltd t/a Dominos | 25 years | 21/11/1999 | n/a | €74,880 | €74,880 |
| 137/a | Tanbel Ltd t/a Mao at Home | 15 years | 25/06/2012 | Yr 5 & 10* | €25,000 | €25,000 |
*subject to 6 months notice
UNIT 135 – Domino’s
Unit 135 is let to Remo Foods Limited t/a Domino’s on a 25 year lease from November 1999.
Contracted rent of €74,880 per annum, with excellent payment history.
Approximately 9 years unexpired lease term with upward only rent reviews.
The Domino’s brand has 47 stores nationwide, with the Tallaght store understood to be one of their top performers.
UNIT 137/A – Mao
Unit 137/a is let to Tanbel Limited t/a Mao at Home on a 15 year lease from June 2012.
Very low passing rent of €25,000 per annum with significant revisionary potential.
Potential for rent to double at rent review or re-leting in 2017 if break option is exercised.
Mao at Home has nine outlets in Dublin.
Viewing
For further information, please contact the sole selling agent
Title
Freehold / Long Leasehold
VAT
TBC
BER
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Alex Patterson
- 016477900
- apatterson@bannon.ie
- PSRA Licence Number: 001830-002397