Station Road, Castlebar, F23AH51, Co. Mayo

An opportunity to acquire a substantial mixed use Commercial/Residential property on a 0.269 ha
(0.665 acre) site.
Superb going concern convenience store business for sale.
Substantial established turnover.
Investment income from pharmacy and flats.
Extensive carpark.
Freehold Title.

LOCATION:-

Castlebar is the administrative capital and county town of Co. Mayo with a population of 12,318 in the town and environs (census 2011). It is a traditional market town which has expanded enormously in recent times and is the second largest retail centre in Connaught, after Galway.
Major employers include Baxter Healthcare (1,000 people); the Revenue Commissioners and Department of Social Protection (500 people) in Michael Davitt House, directly across Station Road. A host of national and international retailers are represented in the town including Dunnes Store, Tesco, Boots, Aldi, Lidl, Elverys Sports, Heatons and Stauntons Pharmacy.
Apart from the Government offices opposite, the immediate area is characterised by good quality housing. The residential estates of Chestnut Grove and Cashel Park are located immediately to the rear of the store and are linked to the carpark by a pedestrian walk way.

Description:-
The property comprises a modern mostly single/part two storey, over basement building on a site of approximately 0.269 ha (0.665 acres).
The property is located on the west side of the N84 Castlebar to Ballinrobe Road, close to its junction with the N5 Castlebar/Dublin Road.
There is an extensive carpark (49 spaces) to the rear accessed via the side of the retail units. The ground floor is occupied by the convenience store with part given over to a pharmacy.

There are two units at the rear facing the carpark that have potential for quasi retail/office use.
The basement is unused. Pedestrian access from Chestnut Park and Cashel Grove.

The convenience store is fully fitted and set out in departments to include a butchery, delicatessen and bakery. There is a large store located to the rear with loading access from the carpark.
Customer access to the store is from Station Road and also from the side car park.

There are two 1 bed apartments overhead as well as ancillary offices and storage for the supermarket. There are significant redevelopment/asset management opportunities presented by the sale of this property.

Tenancy;-
The pharmacy unit is let on a 4 year 9 month lease from 24/03/2014 at a rent of 31,200 pa.
The two apartments are currently let on rolling one year leases at
rents of 90 euro per week. The tenants have been in possession since 2009.

Business
Further details of the business including accounts, department
breakdowns and margin are available to genuinely interested
parties.
Procedure
Access to the Data Room, which contains information on title, leases and the business, is available to genuinely interested parties. Please register your interest with the selling agents.

TITLE:-
We understand that the property is held on freehold title.
Rateable valuation: The Rates Valuation is 152.37. The rates
payable in 2015 were 10.476.96.

Accommodation

Convenience store
Ground Floor
Retail 408.77 sq.mt 4,400 sq.ft
Stores with loading bay 241.55 sq.mts 2,600 sq.ft

First Floor
Offices and stores 125.40 sq.mts 1,350 sq.ft
Basement

Pharmacy
Retail 67.81 sq.mts 730 sq.ft

Car park units
Unit 1 55.74 sq.mts 600 sq.ft
Unit 2 46.45 sq.mts 500 sq.ft
Unit 3 37.16 sq.mts 400 sq.ft

First Floor Residential
2 No 1 bed apartment 72.4 sq.mts 780 sq.ft

Price
Excess 1 million.

BER
BER Rating: C2. BER No: 800453953. EPI: 911.11 kWh/m/yr1.25.

VIEWING / FURTHER INFORMATION Only by prior confirmed appointment with the Joint Agents.
-Brian Moran – Moran Auctioneers
– Lisneys Dublin.