THE Newtown Centre, a two-story commercial development in Annacotty, is on the market with a guide price of €2.75 million.
The sale of the development – which generates an annual rent in the region of €268,000 – is being handled by Savills Cork on the instruction of the Receiver Grant Thornton. The Newtown Centre is located between Newtown and Annacotty, around 1km east of Castletroy.
Siobhan Young of Savills commented, “The Newtown Centre provides investors with the opportunity to acquire a finished property with strong tenant occupancy levels and a considerable rent receivable per annum.”
“The current vacant office units provide scope to increase future rental income and we expect to receive high levels of enquiries for this investment,” Ms Young revealed.
The modern two storey commercial development occupies a site of 2.17 acres. There are nine fully occupied ground floor retail units and 10 first floor office units, seven of which are currently occupied. Current tenants including Bord Gais, Mace, Curves and Bambury Bookmakers, are not affected by the sale.
The development also includes an extensive surface car park sits at the front of the property providing an abundance of customer parking.
