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IrelandCorkCork CityWiltonWilton Shopping Centre, Sarsfield Road, Wilton, Cork

€86,000,000

Wilton Shopping Centre, Sarsfield Road, Wilton, Cork

11277m 2Investment Property
#1 of 6 Properties Viewed in Wilton
Savills Commercial Investments
Savills Commercial Investments
Tel: 01 618 1300
PSRA Licence No. 002233
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Description

Wilton Shopping Centre is an excellent retail investment opportunity with significant mixed-use development potential.

Viewing Information

Wilton Shopping Centre was constructed in 1979 and extended in 2003/2004. It includes approx. 11,277 sq m (121,388 sq ft) of retail space, excluding the Tesco store, and stands on a site of approx. 11 acres. The anchor tenants are Penneys and Tesco (owner occupied). Other key retailers include Peter Mark, Euro Giant, Easons, KBC, EBS Ltd, Boots, New Look, Lifestyle Sports and Specsavers. There is an impressive footfall of over 5.5 million per annum. The centre retains virtually 100% occupancy. The net operating income (NOI) for the centre is approximately €5.54m. The WAULT is 7.3 years (to break). There are over 1,000 car parking spaces. Notification of Decision to Grant was recently received for a mixed-use development of approx. 39,121 sq m (421,095 sq ft) on the centre's northern section, offering the opportunity to significantly develop and build upon the existing scheme. Wilton Shopping Centre is situated within the established and accessible Bishopstown and Wilton suburb, 3km south west of Cork City Centre, opposite Cork University Hospital. Nearby is University College Cork to the north east and Cork Institute of Technology to the north west. The centre has a large catchment of ca. 200,000 people within 15 minutes' drive. The South Link/N22 bypass to the south provides excellent access to the east/west and south of the city, with the Wilton Road connecting the northside of the city. Guiding in excess of €86 million. For the avoidance of doubt, this is an investment sale and tenants are unaffected.

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