Retail warehouse units with a strong covenant 3km from Wexford town centre are on the market at €850,000 through agents DTZ Sherry FitzGerald and Sherry FitzGerald Haythornthwaite.
Units 2-4 Clonard Retail Park comprises three adjoining retail warehouse units extending to about 2,078.3sq m (22,371sq ft) with an additional mezzanine floor of 177.67sq m (1,912sq ft).
The entire property is let to Homestore + More on a 15-year lease from March 22nd, 2012, at a passing rent is €140,000 per annum. This rent is subject to open market reviews while the tenant has break options in years seven and 12.
Units 2-4 occupy a high-profile position fronting onto White Mill Road. Nearby occupiers include Woodies, Aldi, DID and Halfords. The park is close to the N25, which provides access from Cork to Rosslare Europort via Waterford city.
Should the investment sell for its guide price, an investor would secure a net initial yield of 15.77 per cent after standard purchaser’s costs of 4.46 per cent.
