Kehoe & Assoc

Email: sales@kehoeproperty.com

Phone: 053 9144393

Commercial Investment at Walker’s Mall, North Main Street, Wexford

  • P.O.A
  • 500 M2
  • BER No. 800833436
  • Performance 351.17 kWh/m2/yr
BER Rating

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.

 

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.

 

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