Developed in 2006, Nenagh Retail Park comprises 7 modern, purpose built retail warehouse units and has over 400 parking spaces.
The park is anchored by Woodies DIY who account for over 43% of the current total rental income which is approximately €240,000 – this rent is set to increase to over €290,000 as letting terms are now agreed on one of the currently vacant retail units.
Aldi, Expert Electrical, World of Wonder, Jump N Gyms and Slattery's Tiles are the other businesses operating on the site.
The sale is being handled by Savills on the instructions of receivers Duff and Phelps.
Also included in the sale are two neighbouring sites totalling approximately 3.1 acres, which offer future development potential, and a light industrial unit to the rear of the retail park.
The immediate area is set to benefit greatly with the recent announcement that the global payment technology solutions company First Data will soon be establishing a research and development centre in the headquarter office premises located on the same complex within 300 meters from the retail park which will create 300 new jobs for Nenagh.
Savills is seeking offers in excess of €2.6 million for Nenagh Retail Park and say pricing at the guide level offers an income yield of approximately 9%.
