Property Details

  • 889.446m2

    9574.0ft2

  • C2

Property Location

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  • T: (021) 427 7717

Units 1, 2 & 3, Ardfallen Mall, Douglas Road, Douglas, Co. Cork

  • 889.446
  • 9574.0

Cohalan Downing are delighted to offer Units 1, 2 & 3, Ardfallen Mall, Douglas Road, Cork. to the market For Sale as an Investment Opportunity with the Tenants Remaining Unaffected.

 

We are offering the property For Sale by Tender as a single Lot and the agreed date for the return of completed Tenders is no later than 12 Noon on Thursday the 8th of September 2022.

 

Investment Highlights Include;

 

  • Long Term Secure Income
  • Passive Investment Opportunity
  • 3 Modern, Ground floor units with 2 basements extending to 9,574 sq. ft. (889.5 sq. m.)
  • Customer Car Parking
  • Attractive Tenant mix.
  • Prime City Suburb location with impressive frontage onto the Douglas Road
  • WAULT of 5.2 Years to expiry
  • Upward Only Rent Review provision for Units 1 & 2.
  • Passing Rent €269,872 per annum
  • Tenants Not Affected

 

The Ardfallen Mall was developed some 20 years ago as a medical and neighbourhood centre. This established development has stood the test of time and remains one of the most in demand retail locations on the prosperous Douglas Road. The offering comprises 3 modern, own door retail units, currently trading as Iceland, Ardfallen Pharmacy and BoyleSports, with tenants remaining unaffected. The overhead medical units and creche facility are in separate ownership do NOT form part of the sale. The units are very well presented commensurate with their use as a food retailer, pharmacy and bookmaker. Units 1 & 2 further benefit from ancillary basements. Complimentary surface level onsite car parking is available to patrons of the Ardfallen Mall development.

 

Unit 1 – Iceland

  • Largest Unit with over 4,500 sq.ft at ground floor level with additional space at basement level.
  • Currently trading as Iceland under a 10 year sub-lease from Astenbond Ltd which commenced in May 2017
  • PLEASE NOTE Astenbond Ltd remain the primary tenant with full responsibility to the original 25 Year lease from May 2003.
  • Current Passing rent of €170,872 per annum

 

Unit 2 – Ardfallen Pharmacy

  • Middle Unit with over 1,650 sq.ft at ground floor level with additional space at basement level.
  • Currently trading as Ardfallen Pharmacy under a 25 year lease which commenced in October 2003
  • Current Passing rent of €52,000 per annum

 

Unit 3 – BoyleSports

  • End Terrace Unit with over 1,300 sq.ft at ground floor only.
  • Currently trading as BoyleSports under a 10 year lease which commenced in June 2014
  • Current Passing rent of €47,000 per annum

 

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