(IWI) acquire high profile Tesco unit in Dublin City centre for over €2.5m

(13 Sep 2013)

DSC00964 large Thumbnail0Ireland World Investments (IWI) has successfully secured the high profile Tesco Express, Moland House, Talbot Street in Dublin City centre for over €2.5m for private clients. The subject property was put on the market by CBRE in November 2012.

Mr Richard Coffey , Managing Partner of ( IWI) said "he was delighted to acquire the premises on behalf of private clients." The property comprises of a single storey over basement convenience store which extends to 565.7 sq m in total. The ground floor is laid out in regular format and comprises the main retailing area which includes an ATM and full off-licence.

Tesco Express occupies a high profile pitch on Talbot Street, Dublin 1 located between the intersection with Gardiner Street and Marlborough Street.

Talbot Street connects with North Earl Street which in turn intersects with O’Connell Street, Dublin’s main thoroughfare. Neighbouring occupiers include The Irish Life Shopping Mall, Bank of Ireland and Clery’s Department Store.

The property extends to a total area of 565.7 sq m in total with excellent frontage onto Talbot Street. The building is laid out to provide ground floor and basement accommodation.

The ground floor area which is the main retailing area includes an ATM and full off licence.The entire is let to Tesco Ireland Limited which is a wholly owned subsidiary of Tesco Ireland Holdings Limited and the ultimate parent is Tesco Plc which has over 1,000 stores world wide and has a group turnover of £72 billion.

Tesco occupy the premises under the terms of a 25 year lease from the 21st December 2007 subject to an annual rent of €209,000 per annum.

 





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