Douglas Village Shopping Centre, Douglas, Co Cork.€21,000,000 For Sale 21,863.00 sqm approx
Prime shopping centre extending to 21,863 sq m (230,000 sq ft) strategically situated in the heart of Douglas adjacent to the N40 providing access through Cork suburbs.
Current rent receivable of €2,407,282 pa with another deal in legals.
The scheme is anchored by Tesco (held unit a 999 year lease), Bank of Ireland, Marks & Spencer and TK Maxx.
Benefits from a mix of local, national and international retailers such as Bank of Ireland, Starbucks, Eurogiant and CEX, Trespass & Ulla Popken.
It is in exceptional condition, benefitting from extensive refurbishment over the past 24 months.
Variety of immediate asset management opportunities, including lease regears, extensions and unit configuration options to increase the rent receivable.
Cushman & Wakefield are quoting an attractive guide price in excess of €21,000,000 (exclusive of VAT) reflecting a net initial yield of 10.42% assuming standard purchaser costs of 9.96%. In addition, the vendor is in a position to provide debt terms to a proposed purchaser.