5pm, Thursday, 24 October 2019
(unless previously sold)
Full details at: www.westcityretailpark.com
West City Retail Park presents a high profile mixed-use retail and development opportunity in the popular Cork suburb of Ballincollig.
- 4 modern retail/showroom/retail warehouse units & 2.2 acre development site
- Located in Cork (Ballincollig) Ireland’s second largest city
- Comprising approx. 5,854.19 sq.m. of retail/showroom accommodation in total
- Anchored by Lidl on a long term lease from 2009
- High reversionary potential with opportunity to let a further approx. 4,114.69 sq.m.
- Approx. 300 customer car parking spaces
- Opportunity to add significant value to the portfolio through active asset management & development of vacant site
- Development site zoned “existing built up area”
- Tenants are not affected
West City Retail Park is a purpose built retail warehouse/showroom complex.
The entire retail site extends to approximately 5.5 acres and comprises an L-shaped scheme extending to 64,100 sq. ft. of retail, storage and ancillary accommodatio and a 2.2 Acre development site.
The complex offers extensive surface car parking facilities, with approx. 300 customer car spaces allowing direct and convenient customer access to each of the retail units.
RETAIL WAREHOUSE UNITS
The standing units comprise a Lidl Food Store of approx. 1,640.40sq.m. (17,657 sq.ft.) and a further approx. 4,114.69 sq.m. (44,291 sq.ft.). of vacant open plan retail warehouse/showroom space with the benefit of generous circulation space, service yards and surface car parking. Loading is to the side and rear of the retail warehouse units.
The site comprises a brownfield site extending to approximately 2.2 acres. The site is regular in shape and is generally level in topography. The site benefits from excellent dual road frontage and adjoins Dell EMC to its southern boundary and the Retail Park to the West. The site offers potential for future development subject to planning permission
Unit 4 is let to Lidl on a long term lease from 2009, featuring upward only rent reviews on last days of the tenth, fifteenth and twentieth years of the term. The lease features a tenant break option in 2024 subject to 12 months’ notice and a 6 month rent penalty.
SCHEDULE OF ACCOMMODATION (GIA)
No. 1 Vacant 2,496.31 sq.m. (26,870 sq.ft.)
No. 2 & 3 Vacant 1,618.48 sq.m. (17,421 sq.ft.)
No. 4 Lidl 1,640.40 Sq.m. (17,657 sq.ft.)
TOTAL 5,854.19 Sq.m. (63,015 sq.ft.)
The development site comprises approx. 2.2 acres
Long Leasehold - Held for a term of 500 years from 1 day of January 1976 subject to the annual rent of £50. Folio 17483L of the register of leaseholders County Cork.
Discount Retail Store, Retail Warehouse (bulky/heavy goods), Showroom & Zoned Development Site