FOR SALE BY ONLINE AUCTION AT 12 NOON ON THURSDAY 30th June, 2022. Disclosed Reserve: €375,000
Bidders will be required to register, please click on the Offr button below.
The subject property known as ‘Walker’s Mall’ is situated on this busy high-profile junction between North Main Street & Charlotte Street, in Wexford town centre. This mixed-use commercial property is well positioned, on a busy pedestrianised portion of North Main Street. This is an important thoroughfare linking the Selskar / Redmond Square area of Wexford town to North Main Street / The Bull Ring. Occupiers in this area include; ‘Frank’s Place’, Super Drug, Fat Face, Shaws, Ulster Bank, The Centenary Stores, etc. Wexford is a thriving provincial town with a fine mix of international, national and indigenous retailers.
The subject property comprises 5 retail units at ground floor level, together with 5 residential units on the upper floors. Currently 4 of the retail units are occupied and the remainder of the building is vacant. We understand the building is currently producing a rent of €53,360 per annum. In our opinion there is potential to produce an additional c. €30,000 per annum. Therefore when fully let this building will have an ERV in the region of €85,000 per annum.
|Retail Unit No. 1||This extends to c. 18.67sq.m. / 201 sq.ft. It is occupied by Michael Morrissey and trading as a barber shop. It is currently producing €10,560 p.a. The lease is for a term of 35 years from the 1st August, 2002. The tenant is responsible for Local Authority Rates and the usual outgoings.
|Retail Unit No. 2||This unit extends to c. 47 sq.m. / 570 sq.ft. This unit offers c. 30.8 sq.m. of retail space with store and w.c. to the rear. The property is occupied by John Linden, t/a Rainbow Wholefoods. We understand the property is held under a 5 year, expired. It is currently producing a rent of €18,000 per annum. The tenant is responsible for Local Authority Rates and usual outgoings.|
|Retail Unit No. 3||This retail unit extends in total to c. 31.12 sq.m. / 335 sq.ft. with an additional c. 10 sq.m. store room and w.c. to the rear. It is currently trading as Babooshka. Lease expired. It is currently producing €20,000 p.a. The tenant is responsible for Local Authority Rates and the usual outgoings.
|Retail Unit No. 4||This unit extends to c. 28.24 sq.m. / 304 sq.ft. It is currently vacant.|
|Retail Unit No. 5||This unit extends to c. 22.29 sq.m. / 240 sq.ft. It is currently occupied by Arena Sports Nutrition. We understand it is currently producing a rent of €4,800 per annum. The lease agreement has expired. The tenant is responsible for Local Authority Rates and the usual outgoings.
Please note there is a service entrance on the northern side of Unit No. 5 which leads to a lofted store, currently in disrepair. We understand there is a right of way access through this service entrance for the adjoining ‘ La Cuisine Restaurant’.
|5 Residential Units|
|Residential Unit known as ‘The Townhouse’|
|Entrance Hallway||3.48m x 1.43m|
|Sitting Room||5.00m x 3.10m|
|Kitchen/Diner||3.42m x 2.23m|
|Landing||3.48m x 1.43m|
|Bedroom 1||5.40m x 3.32m|
|Shower Room||2.43m x 2.43m|
|In addition there are two no. 2 bed flats and two no. 1 bed flats at first floor level|
|Total Floor Area: The total floor area of the subject building is approximately 500 sq.m. / 5,381 sq.ft.|
|Property||BER||BER No.||Performance Indicator|
|Retail Unit 1||D1||800834210||396.88 kWh/m2/yr|
|Retail Unit 2||C1||800833436||351.17 kWh/m2/yr|
|Retail Unit 3||D1||800833402||716.81 kWh/m2/yr|
|Retail Unit 4||F||800832032||941.57 kWh/m2/yr|
|Retail Unit 5||C3||800832016||407.24 kWh/m2/yr|
|‘The Townhouse’||G||114604556||1222.43 kWh/m2/yr|
|Residential Unit 1||G||114599335||475.43 kWh/m2/yr|
|Residential Unit 2||G||114604119||738.73 kWh/m2/yr|
|Residential Unit 3||G||114604317||778.43 kWh/m2/yr|
|Residential Unit 4||G||To follow|
VIEWING: Strictly by prior appointment with the sole selling agents only.
LEGAL: Alan Mooney, Ensor O’Connor, solicitors, Westgate, Wexford. To download contracts for sale, visit kehoeproperty.com
Currently producing €53,360 per annum with huge potential for additional rent roll.
|Retail Unit 1||Occupied||€10,560 p.a.||35 year lease from 01/08/2002|
|Retail Unit 2||Occupied||€18,000 p.a.||Occupied – lease expired|
|Retail Unit 3||Occupied||€20,000 p.a.||Occupied – lease expired|
|Retail Unit 4||Vacant|
|Retail Unit 5||Occupied||€4,800 p.a.||Occupied – lease expired|
|Residential Unit 1||Vacant|
|Residential Unit 2||Vacant|
|Residential Unit 3||Vacant|
|Residential Unit 4||Vacant|