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P r i m e R e t a i l I n v e s t m e n t O p p o r t u n i t y F o r S a l e b y P r i v a t e Tr e a t y ( E a s o n S t o r e N o t A f f e c t e d )
9 O ’ C o n n e l l S t r e e t & 2 7 C r u i s e ’ s S t r e e tL I M E R I C K
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Situated in the heart of Limerick’s
retail core opposite Penneys and Debenhams
High profile retail unit with frontage onto O’Connell Street and Cruise’s Street
Entire extends to 1,168.1 sq m
(12,573 sq ft) NIA
25 year lease to Eason Ltd. with 10 years term certain
Attractive NIY of 7.5% off
a market rent of €180,000 p.a.
9 O ’ C o n n e l l S t r e e t & 2 7 C r u i s e ’ s S t r e e tL I M E R I C K
M7
M7
N18
N24
M20
R445
R445
R527
R445
R464
R527
N69
TRAIN LINE
R I V E R S H A N N O N
TR
AIN
LIN
E
TRAIN LINE
TRAIN LINE
CastletroyPark Hotel
LimerickRailway Station
CresentShopping Centre
UniversityHospital Limerick
ParkwayRetail Park
Limerick OneShopping Park
LimerickGaelic Grounds
Limerick Instituteof Technology
Thomond Park
King John’sCaslte
LimerickTunnel
CastletroyGolf Course
RathbaneGolf Course
P L A S S E Y
P R O P O S E D N E W N O R T H E R ND I S T R I B U T I O N R O A D
M O N A L E E N
R A H E E N
Johnson & JohnsonVision Care
University OfLimerick
LimerickCity Centre
TroyStudios
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L I M E R I C K I N C O N T E X T
Limerick City, with a population of almost 100,000 people at the 2016 Census, is Ireland’s third largest city.
9 O ’ C o n n e l l S t r e e t & 2 7 C r u i s e ’ s S t r e e t
Limerick is the fastest growing region for Foreign Direct Investment outside the capital with multinational companies employing over 14,000 people. It is home to 115 IDA client companies with particular emphasis on the ICT, Life Sciences, Engineering and Content, Consumer and Business Services sectors.
The City has a student population of 24,000 with international students from more than 100 countries attending Limerick Institute of Technology and University of Limerick at its state of the art campus of the banks on the River Shannon.
Shannon International Airport is located just 25 kilometres from Limerick City and offers daily services to the US, UK and mainland Europe.
Debenhams
O’Connell Street
Penney’s
Arthur’s Quay Shopping Centre
RIV
ER
SH
AN
NO
N
Brown Thomas
Lifestyle Sports
New Look
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L O C A T I O N
O’Connell Street and Cruise’s Street are Limerick’s prime shopping areas and are home to a host of national and international retailers. The surrounding area is bolstered by a vibrant café, pub and casual dining scene which provides additional footfall to the area.
The subject property is located at the north-eastern end of O’Connell Street directly opposite Debenhams and Penney’s and adjoining Keanes Jewellers and Matthew Stephens Jewellers. Brown Thomas, Lifestyle Sports, McDonald’s, Costa Coffee and Arthur’s Quay Shopping Centre are all located within close proximity.
9 O ’ C o n n e l l S t r e e t & 2 7 C r u i s e ’ s S t r e e t
P
P
P
WC
TAXI
TAXI
TAXI
TAXI
GERARD
UNZE
SUPERDRUG
BOOTS
THE
CHEM
IST
MOLLY
MALONES
MON
SOON
MICHAE
LTY
NAN
JDSPORTS
NIRVANA
FOOT LOCKER
SILVERWOOD
JEWELLERS
O`CONN
ORS
LEAVYS
LADB
ROKE
S
HICKEYS
LIFEST
YLESPORTS
LIMERIC
KSP
ORTSSTO
RE
THECARPHONEWAREHOUSEIRISH HANDCRAFTS
THE BAILEY
Z-WE-TON
THEOLD
QUARTER
SEXT
ONFO
RMEN
KABA
NOS
PENNY ARCADE
PRES
CRIPTIO
N
CENTR
E
JOHNCURLEY
FLANNERYS BAR
MOTHERCARE
GREEN
ES
EURODEA
LS
RIVE
RIS
LAND
RIVE
RIS
LAND
INSTO
RE
CARLSCARPA
GUINEYS
FLAN
NERYS
COST
ACO
FFEE
THERAPIE
COPPER & SPICE
REMIX
SEDUZCA
BUS
EIRM
AN
COSTUME
WORLD
IRW
INBROS
GOLDEN
GRILL
PENNEYS
COURTYARD
ANTIQUES
UTOPIA
QUIGLEYS
PRIMROSE
HOGANS
REMIX
HSA
MUEL
FOOT SOLUTIONS
EURO
STORE
NOONAN
CAND
LED
LIGH
T
PORTOBEL
LO
CLAI
RES
ACCE
SSOR
IES
KARTEL
J HIR
WIN
2
INK
REFI
LLDE
POT
NEW
MANS
CAMER
AS
EIR
BONKERS
FLAX INBLOOM
ENZO
S
RIVER DEEP
MOUNTAIN HIGH
VODAFONE
POPPADOM
SUBWAYM
&B
GARV
EY
L`OCC
ITAN
EEN
PROV
ENCE
BURGER KING
NEWLO
OK
UNIT
EDCO
LORS
OFBE
NETT
ON
DEBENHAMS
SHOE
ZONE
FOOD FAIR KIOSK
UNIT
3
PETER
MARK
MCGOVERNS
CUSH
YFE
ET
GAME
STOP
DR CHINA
BIRTHDAYS
FASHIONHOUSE
ARGOS
BEANA TITH
ORNTONS
CONNOLLYS
FORMAL WEAR
BOOJUM
SPECSAVERS
OPTICIANS
ANNSUMMERS
B BS COFFEE
& MUFFINS
BANK OF IRELAND
TONI & GUY
3ST
ORE
NANCY BLAKES
ROBIN
ARCHER
SHOE RACKE B
S
CONNOLLY MAN
HOUSE
OF SOLO
SMYTHS
SERAN
O
KEBA
BISH
BROWN THOMAS
MARBLES
HOLL
AND
&BA
RRET
T
KNOCK
MCDON
ALDS
FREN
CHCO
NNEC
TION
HAIRGALL
ERY
INVO
GUE
CENT
RACOMPU B
CHOI
CE
JUMPJUICE BARS
ARIO ASIAN
STREET FOOD
O`CONNORS
GARDENW
ORLD
AWEAR
MATTHEWSTEPHENS
THURS QUAY
BOSS
CHAPPS
NEWSTOP
OLIO & FAIN CA
REW
S
JESS
ICAS
MULLANYS
NDW
ICSH
OP
GLI
TZI B
ITZ
PARI
S
MELT CHOCOLATECAFE
RW
OODMOO
R
SHOE
S
EYE
THE
STILL
HOUS
ENA
MEIT
PAPERDO
THE CORNMARKET BARSUPERMACS
THE
YELL
OW
LEMO
N
WACKY SHOES
R POT
O`MAHONYS
PERM
ANEN
TTS
B
UNISLIM
OW
ABRAKEBABRAIRE MUS C
SEOID
IN
FRANKIES
A
THE
SALE
SHOP
LIMER
ICK
TRAV
EL
LEONARDS
ROYAL DORBAR
CASANOVA
HIGHSTREET
BOOKSTORE
DIES
EL
K&
JONE
S
SUBWAY
LECHO
COLA
T
WILDONION
ZANET
PA
MARTI
N
TURKUAZ
AME
CLOTHING
SHOES
PCRE
PAIR
ALLE
NSCRED
IT U
NION
VACANTOUTLET
PUBLICHOUSE
STORE
SOLIC
VACA
NTOUT
LET
GIFTS
VAC
PHOTO
CENT
RE
CAFE
SHOES
BETT
ING
OFFIC
E
VACA
NTOUT
LET
VACANT BANK
VAC
VAC
VACAN
TOUTL
ET
BAR & RESTAURANT
VAC
VACANT OUTLET
MENS
WEA
R
S/W
BAR
VACANT
OUTLET
CHEM
VACA
NTOU
TLET
VAC
VACA
NTOUTL
ET
CAFE
HOUSHOLD
GOODS
OFFICE
HORA
N'S
HEAL
TH
STORE
FURNITU
RE&
COFFEE
SHOP
SHOES
VACANTOUTLET
PUBL
ICHOUSE
STORE
VACANTOUTLET
VAC
L/WR
CLOTH
ING
TRAV
ELAG
ENT
GIFTS
VACANT
OUTLET
CAFE
VACANTOUTLET
HEALTH
&BEAU
TY
ADSH
VACANT OUTLET
WAREHOUSE
BUTC
HER
VAC
M/WR
JEW
ELLE
R
SHOES
HOUS
EHOLD
GOODS
ANTS
OFFICE
ANTS
STORE
VACANTOUTL
ET
JEW
ELLE
R
LDGOODS
TIGER
COMP
SERV
PHOTO
GDS
KEANESJEWELLER
SHOESCAFE
OUT WR
TELEPHONES
INDIAN RESTAURANT
VAC
VACA
NTOUT
LET
HLTH
&BEA
FAST FOOD
RESTAURANT
STORE
CLOTH
ING
DEPARTMENT STORE
VACANT
SHOES
DELI
CO
FFSH
HAIRDRESSIN
G
ENSW
EAR
SHO
ES
COMPUTE
RGAMES
VACANTOUTLET
CARDS & GIFTS
VACANTOUTLET
TRAI
LFIN
DERS
BAKER& CAFE
CEX
MENS WEAR
GOLDEN D
ISCS
VIRGIN MEDIA
JACK
AND
JONE
S
HAIRDRESSING
PUBLICHOUSE
VAC &UND/ALTN
PUBLICHOUSE
HABER
SHOES
VACANT OUTLET
MENS WEAR
L ACCESS
BAR& RESTAURANT
JEW
ELLE
RT/A
DEPARTMENT STORE
HAIRDRESSIN
G
STORE
RELGGDS& GIFTS
F/FD
REST
LADI
ES&
MENS
WEA
R
HAIR
LADI
ESW
EAR
CONV
ENIE
NCE
STORE
COMP EQUIP
LADI
ESW
EAR
STO
BAKER
VACPH
LADIES WEAR
JEWELLER
DRSURGY
HAIR
MENS WEAR
CHEMIST
GARDEN
GOODS
LADI
ESW
EAR
HEAL
THFO
OD
BUILDIN
GSOCIETY
MOUNTAIN
WAREHOUSE
TEL
SPORTSGOODS
CAFE
LINGERIE
SPORTS GOODS
CONF &BI
S
CATALO
GUE
SHOWROOM
LADIESW
EAR
NATURTHPY
LADIES WEAR
HAIR
S/WBAR
L/WR
MENSWEAR
L ACC
ESS
FLOR
&G
IFTS
BEAUSAL
VACANTOUTLET
BAKER& CAFE
CLOTHING
JEW
ELLER
INDIAN REST &
THAI REST
CLOTHING
LADI
ES&
MEN
SW
EAR
LADI
ES&
MEN
SW
EAR
CHILDRENS WEAR
&
NURSERY GOODS
NIGHTC
LUB
PRT&PHCPY
AMUSEMENTS
BAR&
RESTAURANTCHINESE
RESTAURANT
CLOTHING
TEL
SPORTS
GOODS
SPORTSGOODS
HABERDASHERY
DR
S
VACANTOUTLET
ANK
CHAR
SH
TOURISTINFO
VACPH
VAC
JEW
ELLE
R
CONF & BIS& COFF SH
EAR
LAC
CES
S
BAR
CTN
EHOLD
GOODSR
GOODSVACANT RESTA
URA
CTN
DELICATESSE
VACA
NTOUT
LET
T WEA
R
HILD
RENS
WEA
R
PUBL
ICHO
USE
VACANTOUTLET
SHOES O
BOOKS
VACANTOUTLET
VACANTOUTLET
GIFTS
&JW
LR
OUTLET
STORE
VACANTOUTLET
VAC
NT OUTLET
CLO
VACANT OUTLET
SOLARIUM
T
T/A
VACA
NTOUTL
ET
VACAN
TOUT
LET
PUBL
ICHO
USE
VACANTOUTLETNT
T
VACA
NTOUT
LET
CAFE
VACANTOUTLET
HAIR
S/W BAR
M/WR
VACANTOUTLET
VACA
NTOUT
LET
BAR
VACA
NTOUT
LET
BOOKS
TAKEAWAY
INDIAN REST
M/WR
TRAV
ELAG
ENT
L/WR&
M/WR
OFFIC
BUTCHER
ORING
F/FD REST
RESTAURANT
INDI
ANRE
ST
HEALTHCENTRE
BANK
ING
31
62
74
6867
29
11 - 12
16
33
14
18
2
9
15
59
2
14A
36
34
7
15
5
129
- 130
8
35
3
14
6A
ARTH
UR
S Q
UAY
SHO
PPIN
G C
ENTR
E
6
63
21
5
73
32B
19
4 - 5
33
5
3
18
2
19
57
12
1
8
9 - 10
10
7
10
20
13
6
3
2
2
3
16 - 17
13
26 8
64
28
11A
7B
40
10
11
18
2 - 3
60
11
3
4
K4
58
1
140
27
2A
134
- 136
132 - 1
33
6
22
9A9B
24
131
20- 2
1
7A
1
6
7
19
34
38
30
125 - 1
27
16
24
K3
19
9
20B
19
17A
10
9A
39
15
12- 1
6
35
8A
76- 7
8
1 - 2
61
11
10
9
17
8 -9
8B
1
22
9A
25 - 26
8
19A
19B
12- 1
4
A6A
9B
7
12A
3
32A
9B
36
13A
37
15A - 16A
8
10A
6B
23
20A
25
427
17
K1 - K2
21
137 - 1
39
22- 2
3
215
55
5657
75
4
14
57
54
74A 253
54
533
5655
124
1
2
122
24
6
120
4
6
119
2
81 - 3
17
121
1
8
1 - 12
4
13
23
23
5
2
5 - 7
6 - 7
3
4
6
5
3
123
2B
8
LITTL
EW
ILLIA
MST
REET
TTLE
CATH
ERIN
EST
REET
ELLEN STREET
O`CONN
ELL ST
REET
ROBERT STREET
PATRIC
KSTR
LITTLE ELLEN STREET
CHAPEL STREET
TODDS
ROW
WILLIAM STREET
QUAY
THOMAS S
CRUISES STREET
CRUISES STREET
SHOPPING
CRUISES STREET
DENMARK STREET
TODDS
ROW
WILL
IAMSC
OURT
SARSFIELD STREET
UPPERDENMARK STREET
LIMERIC
LIDDY
STRE
ET
ORD ROW
CORN MARKET
L STRE
ET
HIGH
STRE
ET
&
(2RE
TAIL
FLOO
RS)
(2 RETAIL FLOORS)
(2RET FL
RS)
OVER&
(2RE
TAIL
FLOO
RS)
(2 RETAIL FLOORS)(2 RETAIL FLOORS)
&
(4 RETAIL FLOORS)
(3RETA
ILFL
OORS)
(4 RETAIL FLOORS)
MULTI-STOREY
ROAD UNDER ALTERATION
(2RE
TAIL
FLOO
RS)
&
CLOSE
D
(PEDESTRIANS ONLY)
SEE LOWER GROUND
(2RE
TAIL
FLOO
RS)
YARDYARD
CLOSED
ENT TO
CARPARK
(2 RETAIL FLOORS)
MULTI-STOREY
OVER
WEL
LINGS
ENT
ENT
ENT
ENTRANCE
ENTRANCE
ENT
DWEL
LINGS
ENT
ENTRANCE
ENT
17
(350) (ACTUAL)
IREL
AND
(420) (ACTUAL)
(100) (ESTIMATED)
ART
& HO
BBY
S U B J E C T
P R O P E R T Y
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L I M E R I C K G O A D
Part of Eason’s basement extends under No. 10 O’Connell Street and No.’s 1,2 & 3 William Street (occupied by Keane’s Jeweller’s, H Samuel and Photo Centre).
Subject property is shown for identification purposes.
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T H E P R O P E R T Y
The subject property is a mid-terraced ‘L’ shaped building extending to 1,168.1 sq m (12,573 sq ft) NIA incorporating 879 sq m (9,461 sq ft) of retail area over basement, ground and first floor levels.
The O’Connell Street building comprises a four storey over basement property with the basement element extending under adjoining properties on O’Connell Street (no. 10) and William Street (no.’s 1,2 & 3). The section fronting onto Cruise’s Street is a two-storey retail unit which interconnects with the O’Connell Street property at ground and first levels.
The property occupies a site of approximately 0.1 acres and benefits from dual frontage to O’Connell Street and to Cruise’s Street, nine metres and eight metres respectively.
I N S I D E T H E S H O P D O O R
Internally the unit is laid out to provide open plan retail areas at basement, ground and first floors whilst the upper floors are used for storage, offices and staff facilities.
An up-only escalator links the ground and first floor retail areas, which are also serviced by stairs and customer lift. Access to the upper floors and basement is also via stairs and lift.
S C H E D U L E O F A C C O M M O D A T I O N
* 275.1 Sq m (2,961 Sq Ft) of the basement extends under no. 10 O’Connell Street and no.’s 1,2 & 3 William Street.
Floor Use Sq M NIA Sq Ft NIA
Basement * Retail 396.6 4,269
Ground Retail 239.6 2,579
First Retail 242.8 2,613
Second Storage/Ancillary 140.2 1,509
Third Storage/Ancillary 148.9 1,603
Totals 1,168.1 12,573
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T H E L E A S E
Let to Eason Limited on a new 25 year FRI lease at an annual rent of €180,000. The lease provides for five yearly open market rent reviews and a break option (in favour of the tenant) at the end of year 10 subject to six months’ prior written notice.
C O V E N A N T Eason is Ireland’s leading book, stationery, news and magazines retailer with a portfolio of 60 stores nationwide and employing approximately 800 people. Eason Limited had a turnover of €109m in the year ended January 2018, with a profit after tax and restructuring costs (€3.3m) of €0.7m. The profit after tax for the year ending January 2019 is expected to be approximately €3m bringing the balance sheet value to c.€6m. Full accounts for 2018 and draft accounts for 2019 are available on request.
S H A N N O N S C A N L O N +353 1 637 [email protected]
28 Burlington Rd,Dublin 4Ireland
S O L I C I T O R
A L E X P A T T E R S O N+353 1 [email protected]: 001830-002397
R O D N O W L A N+353 1 [email protected]: 001830-002131
Hambleden House, 19/26 Pembroke Street Lower, Dublin 2
Disclaimer: These particulars are issued by Bannon on the understanding that any negotiations relating to the property are conducted through them. While every care is taken in preparing them, Bannon, for themselves and for the Vendor/lessor whose agents they are, give notice that: (1) The particulars are set out as a general outline for guiding potential purchasers/tenants and do not constitute any part of an offer or contract. (2) Any representation including description, dimensions, references to condition, permissions or licences for uses or occupation, access and any other details are given in good faith and are believed to be correct, but any intending purchaser or tenant should not rely on them as statements or representations of fact but must satisfy themselves (at their own expense) as to their correctness. (3) Bannon nor any of its employees have any authority to make or give any representation or warranty in relation to the property.
SALES PARTICULARS
The property is being offered on the basis of Sale and Leaseback via a Private Treaty process. Price on application.
DATAROOM
Further details pertaining to the sale are contained within a secure data room. Please log onto www.easonslimerick.com to register your interest.
VIEWINGS
Viewings are strictly through the sole selling agents, Bannon.
VAT
TBC.
TITLE
Part Fee Simple, Part Long Leasehold.
A G E N T
9 O ’ C o n n e l l S t r e e t & 2 7 C r u i s e ’ s S t r e e tL I M E R I C K
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