Clonmel shopping centre comes to auction seeking €1.6m

A shopping centre in the heart of Clonmel, Co Tipperary, is set for auction on December 10th with a guide price of €1.6 million.

The Ormonde Centre is a modern retail development in the heart of the town, comprising a part three-storey, part single-storey development, offering both retail and office accommodation.

The property extends to about 3,140sq m (33,810sq ft) in total, with significant dual glazed frontage on to both Gladstone Street and the town centre car park.

The shopping unit currently has two tenants, with 80 per cent of the floor space vacant, offering significant opportunity to enhance return.

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The tenants, fashion outlet DV8 and menswear shop 6th Sense, bring in total current rent of €120,000 a year, with the former on a 15-year lease until 2027 and the latter on a 15-year lease until 2026.

The property will be auctioned on December 10th by BidX1.

The auction of the Ormonde Centre follows a number of other town centre shopping centres across the country being put on the market.

Back in September, Marathon Asset Management looked to dispose of Waterford’s landmark City Square Shopping Centre for €24.5 million, while Johnston Court Shopping Centre, a modern shopping centre in the heart of Sligo town centre, was also put up for sale in September seeking €5.7million.