Tipperary Town Shopping Centre up For Auction Today

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Tipperary Town Shopping Centre is up for sale by online auction today. Bids begin at 1pm and the auction will close at 2pm. The sale is being handled by BidX1.The invited opening bid is €1.6M – those interested in bidding had to pre register and provide a €50,000 deposit. The sale of the shopping centre does not include the Dunnes Stores area of the complex and also includes two smaller adjacent sites that combined total 1.19 acres. The Centre boasts annual footfall in excess of 1.3M, 308 car park spaces and has a current passing rental income €227,085 per annum.

There are three vacant units at present with Card Factory Ireland Ltd expected to take up one of the vacant units for a 5 year term with tenant break option at the end of Year 3. The lease provides for a base rent of €10,000 pa + 7% turnover top up, capped at €20,000 total.