The Shannon Retail Centre in the centre of Athlone is to be sold for a reduced price of €2.3 million. The largely vacant shopping centre spans 8,426 sq m and includes 15 retail units - just two of which are in use at present.
The sale is being handled by Dublin-based agents TWM, who recently sold Athlone’s Golden Island shopping centre for €43.5 million. They describe the complex as having a “high profile location fronting onto Sean Costello Street”, with excellent accessibility.
Shannon Retail Centre opened more than 40 years ago and served as a supermarket for Tesco. When Tesco moved to Golden Island, the store was extended to accommodate Texas Department Store and a further 14 retail outlets.
The units range in size from ca 45 sq m to 5,575 sq m for the anchor unit. Agents TWM say the building could be put to alternative uses, subject to planning permission.
The two tenants currently trading in external units in the complex, in addition to an ATM dispenser, bring in combined rents of €66,368.
The complex is connected to an adjoining 401-space multi-storey carpark; however this is for sale separately through Lisney for €200,000.