Market Square Car Park Ennis Co. Clare

INVESTMENT HIGHLIGHTS
High Income producing asset with annual turnover of c.€210,000 per annum (Net) located in Ennis town centre.
Purpose built facility with 300 car parking spaces.
Currently operated by Q-Park Management Limited and vacant possession can be delivered.
Q-Park Management Limited are a multi-national operator with over 6,300 parking facilities across Europe.

LOCATION
Ennis is located in the eastern Clare region and is the commercial and administrative capital of County Clare.
Ennis has a population of approximately 25,276 no. persons according to the CSO Census of Population 2016.
The town is situated just west of the M18 Galway-Limerick Motorway. Ennis is located approximately 37km north of Limerick and approximately 68km south of Galway and approximately 24km north of Shannon International Airport.
According to the CSO there are approximately 12,200 persons employed in the Ennis area. The key sectors are in the areas of computer & electronic equipment, pharmaceuticals and the public sector.
Market Square MSCP is centrally located within the town centre of Ennis in close proximity to the main retail thoroughfares of O’Connell Street, High Street and Bank Place.

DESCRIPTION
Market Square Multi-Storey Car Park offers a total of 300 car parking spaces located in Ennis town centre. The facility is situated less than a five minute walk from the towns main shopping thoroughfares including O’Connell Street which is occupied by high profile retailers such as Dunnes Stores, Pamela Scott, Boots, Carphone Warehouse, Pandora, DV8 and Game Stop.
The facility is of concrete portal frame construction and has been constructed over four levels incorporating 300 car parking spaces. Vehicular access to the car park is gained directly off Market Square, a pedestrian access is also located adjacent to the main vehicular entrance/exit.
The primary source of income for the Car Park is from short-term stays derived from retail footfall within the town centre.

MANAGEMENT
The facility has been managed and operated by Q-Park Management Limited since April 2012, initially under a 3 year term which was extended for a further 3 year term on expiry. Q-Park Management Limited continue to operate the facility under agreement with the owner, however vacant possession can be delivered. The annual Management Fee amounts to €28,000 per annum.

BER
Exempt
RATES
€14,831.92 per annum.
PRICE
Offers sought in excess of €950,000 (ex VAT)