DescriptionThe property is arranged to provide a prominent five-storey over basement corner building. Internally, the ground floor is laid out as an open plan retail store and currently trades as a mobile phone shop. The first and second floors are fitted and are in use as offices and staff areas. The third, fourth and basement floors comprise storage accommodation. The upper floors are accessed via an internal stairs and also have the benefit of a separate external door from Abbeygate Street. The property benefits from dual frontage onto Shop Street and Abbeygate Street.
Galway is the fourth largest city in Ireland with an urban population of some 75,000 people (as of the 2016 Census).The city is situated approximately 98km north of Limerick and approximately 85km west of Athlone.Transport links are provided by the M6 Motorway which is situated approximately 5km to the east, public transport is served via a number of bus routes and Ceannt Rail Station.The property is situated in a prime location in Galway city centre at the junction of Shop Street and Abbeygate Street.The property is located directly opposite AIB and adjacent to Lifestyle Sports.Shop Street offers a unique shopping experience with a wide array of well known retailers together with a host of tourist attractions, bars and restaurants.
The entire property is let to Three Ireland (Hutchison) Limited on a 10 year FRI lease from May 2016. The lease provides for an open market rent review in May 2021, the rent will be reviewed to open market rental value. A deed of renunciation has been executed by the tenant.Three Ireland (Hutchison) Limited has a Vision Net Rating of 71/100. Three is one of Ireland's leading mobile operators with 35% market share and 2.2 million customers (as of March 2019). Three is 100% owned by CK Hutchison Holdings Limited (CK Hutchison), a renowned multinational conglomerate committed to innovation and technology with businesses spanning the globe. With operations in over 50 countries and over 300,000 employees worldwide.
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