THE TENANT IS NOT AFFECTED BY THE SALE.
12 O'Connell Street comprises a part three storey, part two storey commercial property. The ground floor retail area and rear lower ground floor were renovated / developed in 2005 and provide excellent retail and back of house accommodation. Deliveries are serviced from the Quay to the rear which has a ramped delivery area connecting to the stock room and staff areas. The upper floors are presently accessed externally from Flag Lane but are not being used by the tenant.
The entire property is let to “New Look Retailers (Ireland) Limited” under a single FRI lease (as varied) for a term of 25 years from 7 February 2005 subject to a passing rent of €125,000 per annum payable monthly in advance. The lease is guaranteed by New Look Retailers Limited. The next rent review, which is upward only, is 7 February 2025. There is also tenant break option on 7 February 2025. New Look Retailers (Ireland) Limited have a Dun & Bradstreet financial covenant strength of 4 A1.
• Prime Retail Investment Property on O’Connell Street in Clonmel.
• Adjacent Retailers Include Penneys, Shoe Zone, Elvery’s, River Island, Dealz Ulster Bank, AIB & Heatons.
• Excellent and Profile Retail Fashion Tenant in Situ.
• Sustainable Passing Rent of €125,000 pa with approx. 6 years to Tenant Break Option.