FOR SALE BY ONLINE AUCTION AT 12 NOON ON THURSDAY 30th June, 2022. Disclosed Reserve: €375,000
Bidders will be required to register, please click on the Offr button below.
The subject property known as ‘Walker’s Mall’ is situated on this busy high-profile junction between North Main Street & Charlotte Street, in Wexford town centre. This mixed-use commercial property is well positioned, on a busy pedestrianised portion of North Main Street. This is an important thoroughfare linking the Selskar / Redmond Square area of Wexford town to North Main Street / The Bull Ring. Occupiers in this area include; ‘Frank’s Place’, Super Drug, Fat Face, Shaws, Ulster Bank, The Centenary Stores, etc. Wexford is a thriving provincial town with a fine mix of international, national and indigenous retailers.
The subject property comprises 5 retail units at ground floor level, together with 5 residential units on the upper floors. Currently 4 of the retail units are occupied and the remainder of the building is vacant. We understand the building is currently producing a rent of €53,360 per annum. In our opinion there is potential to produce an additional c. €30,000 per annum. Therefore when fully let this building will have an ERV in the region of €85,000 per annum.
| Retail Unit No. 1 | This extends to c. 18.67sq.m. / 201 sq.ft. It is occupied by Michael Morrissey and trading as a barber shop. It is currently producing €10,560 p.a. The lease is for a term of 35 years from the 1st August, 2002. The tenant is responsible for Local Authority Rates and the usual outgoings.
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| Retail Unit No. 2 | This unit extends to c. 47 sq.m. / 570 sq.ft. This unit offers c. 30.8 sq.m. of retail space with store and w.c. to the rear. The property is occupied by John Linden, t/a Rainbow Wholefoods. We understand the property is held under a 5 year, expired. It is currently producing a rent of €18,000 per annum. The tenant is responsible for Local Authority Rates and usual outgoings. |
| Retail Unit No. 3 | This retail unit extends in total to c. 31.12 sq.m. / 335 sq.ft. with an additional c. 10 sq.m. store room and w.c. to the rear. It is currently trading as Babooshka. Lease expired. It is currently producing €20,000 p.a. The tenant is responsible for Local Authority Rates and the usual outgoings.
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| Retail Unit No. 4 | This unit extends to c. 28.24 sq.m. / 304 sq.ft. It is currently vacant. |
| Retail Unit No. 5 | This unit extends to c. 22.29 sq.m. / 240 sq.ft. It is currently occupied by Arena Sports Nutrition. We understand it is currently producing a rent of €4,800 per annum. The lease agreement has expired. The tenant is responsible for Local Authority Rates and the usual outgoings.
Please note there is a service entrance on the northern side of Unit No. 5 which leads to a lofted store, currently in disrepair. We understand there is a right of way access through this service entrance for the adjoining ‘ La Cuisine Restaurant’. |
| 5 Residential Units | |||
| Residential Unit known as ‘The Townhouse’ | |||
| First Floor | |||
| Entrance Hallway | 3.48m x 1.43m | ||
| Sitting Room | 5.00m x 3.10m | ||
| Kitchen/Diner | 3.42m x 2.23m | ||
| Second Floor | |||
| Landing | 3.48m x 1.43m | ||
| Bedroom 1 | 5.40m x 3.32m | ||
| Shower Room | 2.43m x 2.43m | ||
| In addition there are two no. 2 bed flats and two no. 1 bed flats at first floor level | |||
| Total Floor Area: The total floor area of the subject building is approximately 500 sq.m. / 5,381 sq.ft. | |||
| Property | BER | BER No. | Performance Indicator |
| Retail Unit 1 | D1 | 800834210 | 396.88 kWh/m2/yr |
| Retail Unit 2 | C1 | 800833436 | 351.17 kWh/m2/yr |
| Retail Unit 3 | D1 | 800833402 | 716.81 kWh/m2/yr |
| Retail Unit 4 | F | 800832032 | 941.57 kWh/m2/yr |
| Retail Unit 5 | C3 | 800832016 | 407.24 kWh/m2/yr |
| ‘The Townhouse’ | G | 114604556 | 1222.43 kWh/m2/yr |
| Residential Unit 1 | G | 114599335 | 475.43 kWh/m2/yr |
| Residential Unit 2 | G | 114604119 | 738.73 kWh/m2/yr |
| Residential Unit 3 | G | 114604317 | 778.43 kWh/m2/yr |
| Residential Unit 4 | G | To follow |
VIEWING: Strictly by prior appointment with the sole selling agents only.
LEGAL: Alan Mooney, Ensor O’Connor, solicitors, Westgate, Wexford. To download contracts for sale, visit kehoeproperty.com
Currently producing €53,360 per annum with huge potential for additional rent roll.
| Description | Status | Rent | Tenancy |
| Retail Unit 1 | Occupied | €10,560 p.a. | 35 year lease from 01/08/2002 |
| Retail Unit 2 | Occupied | €18,000 p.a. | Occupied – lease expired |
| Retail Unit 3 | Occupied | €20,000 p.a. | Occupied – lease expired |
| Retail Unit 4 | Vacant | ||
| Retail Unit 5 | Occupied | €4,800 p.a. | Occupied – lease expired |
| Residential | |||
| ‘The Townhouse’ | Vacant | ||
| Residential Unit 1 | Vacant | ||
| Residential Unit 2 | Vacant | ||
| Residential Unit 3 | Vacant | ||
| Residential Unit 4 | Vacant |