Tullamore shopping centre portfolio guiding at €5.9m

Sale of 19 units at Bridge Shopping Centre offers prospective buyer 11.35% yield

Tullamore’s Bridge Shopping Centre is anchored by Dunnes Stores. Photograph: Gareth Byrne Photography

Tullamore’s Bridge Shopping Centre is anchored by Dunnes Stores. Photograph: Gareth Byrne Photography

 

A significant portion of the well-known Bridge Shopping Centre in Tullamore, Co Offaly has been brought to the market for a guide price of €5.95 million.

The sale which is being handled by agent HWBC includes 19 units comprising a total floor area of 1,709sq m (18,400sq ft). The portfolio is producing a current annual rental income of €732,000, representing a yield of 11.35 per cent after allowances for standard purchaser’s costs.

Built in 1995, the Bridge Shopping Centre is located on Tullamore town’s main thoroughfare, Bridge Street. Anchored by Dunnes Stores, the scheme has a total of 24 retail tenants, a cinema and 350 car-parking spaces.

Investors

Tenants of the 19 units for sale include Vodafone, Vera Modo and Holland & Barrett. The portfolio is being sold in one lot on behalf of eight private investors. None of the tenants are affected by the sale.

Kieran Curtin of HWBC says: “This is an opportunity to acquire a significant portion of a successful regional shopping centre. The Bridge is well located and widely regarded as Tullamore’s prime retail location.”