Argos store in Waterford city for sale at €1.8m

High-profile building on Great George’s Street set to produce net yield of 10.24%

The Argos building extends to 1,488.70sq m, and as well as a 15m frontage on to Great George’s Street it has convenient loading facilities at the rear

The Argos building extends to 1,488.70sq m, and as well as a 15m frontage on to Great George’s Street it has convenient loading facilities at the rear

 

Agent TWM expects considerable interest from investors in a high-profile Argos store in Waterford city, which is set to produce an attractive net initial yield of 10.24 per cent

Offers in excess of €1.8 million are being sought for the strongly performing store at 15/16 Great George’s Street, in the centre of the pedestrianised zone which joins up at John Robert Square.

Argos has traded from the freehold property for more than 20 years, and negotiated a new 10-year full repairing and insuring lease from last October at an annual rent of €200,000 per annum.

The building extends to 1,488.70sq m (16,024sq ft), and as well as a 15m frontage on to Great George’s Street it has convenient loading facilities at the rear.

Argos’s success has been helped by its close proximity to an enlarged Penneys store as well as other traders such as Sketchers, Clarks, Pandora, Costa and the strong line-up of traders in City Square shopping centre.

Patricia Ward of TWM said the investment opportunity was rack rented at present and was well-positioned to benefit from future rental growth.

The Irish Times Logo
Commenting on The Irish Times has changed. To comment you must now be an Irish Times subscriber.
SUBSCRIBE
GO BACK
Error Image
The account details entered are not currently associated with an Irish Times subscription. Please subscribe to sign in to comment.
Comment Sign In

Forgot password?
The Irish Times Logo
Thank you
You should receive instructions for resetting your password. When you have reset your password, you can Sign In.
The Irish Times Logo
Please choose a screen name. This name will appear beside any comments you post. Your screen name should follow the standards set out in our community standards.
Screen Name Selection

Hello

Please choose a screen name. This name will appear beside any comments you post. Your screen name should follow the standards set out in our community standards.

The Irish Times Logo
Commenting on The Irish Times has changed. To comment you must now be an Irish Times subscriber.
SUBSCRIBE
Forgot Password
Please enter your email address so we can send you a link to reset your password.

Sign In

Your Comments
We reserve the right to remove any content at any time from this Community, including without limitation if it violates the Community Standards. We ask that you report content that you in good faith believe violates the above rules by clicking the Flag link next to the offending comment or by filling out this form. New comments are only accepted for 3 days from the date of publication.