Ireland World Investments (IWI) secure the Tesco Express on St Agnes Road Crumlin Dublin 12 for private clients

(25 Jul 2013)

untitled Thumbnail0Ireland World Investments ( IWI) have secured the Tesco Express on St Agnes Road Crumlin Dublin 12 for private clients. On the instructions of Michael McAteer (Liquidator) for Grant Thornton the property was sucesssfully sold by DTZ Sherry Fitzgearld Ballsbridge and was seen as an excellent investment opportunity whereby the tenent was not affected. The Tesco Express property was newly constructed and completed on 2007 in the busy south Dublin retail parade with on street parking
Richard Coffey Managing Partner of Ireland World Investments believes this is an excellent investment opportunity as "Crumlin village is a vibrant commercial centre located in South Dublin City". The village serves a local population of 19,219 (CSO 2006). Crumlin is home to Our Lady’s Children’s Hospital, Ireland’s largest paediatric hospital. The Tesco express store is located on St Agnes Road in the heart of Crumlin Village and lies just 5km south west of St Stephens Green in Dublin City centre.

Prominently positioned, the Tesco express store is located in the centre of a commercial parade in the village centre. Adjoining occupiers include the EBS Building Society, Paddy Power, Unicare, Boylesports and a multitude of local traders such as a butchers, coffee shop and solicitors.
The property which extends to a Gross Internal Area of 389.91 sq m comprises a two storey purpose built mid terrace building with retail use at ground floor level and ancillary office and storage accommodation at first floor level. The store benefits from a Tesco Express format remodelling in 2009.

The property is let to Tesco Ireland Limited on a 25 year lease from July 2009 with five yearly rent reviews. The rent is linked to the Consumer Price Index and the initial rent is €85,000 per annum.

The next rent review date is 01 July 2014.

Tesco PLC is a global general merchandise retailer and has 5,380 stores (2010) worldwide. Tesco has 131 stores in Ireland (Tesco Ireland Ltd.) and continues to expand.

Tesco Ireland Ltd. is a wholly owned subsidiary of Tesco PLC. Tesco PLC had a turnover of Stg. £67.6 billion in 2010.

The breakdown of the Irish stores are as follows:

  • • 97 Tesco Supermarkets
  • • 13 Tesco Extra
  • • 27 Tesco Express

The number of people employed by Tesco Ireland Ltd. has increased by 55% since 1998, to over 14,000.
 

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  • 28-32 Upper Pembroke Street,
  • Dublin 2,
  • Ireland

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