Winters Property Management and TWM bring to the market a thriving neighbourhood retail centre investment opportunity in the expanding village of Clarinbridge, Galway. The Bridge Centre, which was developed in the mid 2000s, extends to approximately 32,000sq ft and comprises eight retail units and two apartments, laid out in two blocks with the benefit of generous parking facilities for customers.
The Bridge Centre offers a strong mix of retailers with tenants including Centra, Meadows & Byrne, Clarinbridge pharmacy, Poppyseed Café, and the Clarenbridge Garden Centre. The centre is currently producing a total annual rent of just over €225,000. One of the keys to the success of the centre has been the ease of access for customers with plentiful parking and the range of offerings available serving both the immediate catchment and passing traffic.
The Bridge Centre is situated in Clarinbridge village, a popular village outside Galway city, situated at the mouth of the Clarin river approximately 17km southeast from Galway city centre, along the N18 Galway-Limerick national primary road. The village is growing due to its popularity as a commuter town for Galway city and has experienced significant expansion in recent years with the construction of estates and one off housing developments due to the population doubling since 2006, and growth is anticipated to continue. The Bridge Centre forms the main retail base within the village.
The selling agents Winters and TWM are quoting a guide price in excess of €2.2 million which will provide an attractive net initial yield of 9.8 per cent. Ian Hutchinson of Winters Property Management, who is handling the sale, said: “We are delighted along with TWM to offer The Bridge Centre for sale, we envisage a lot of interest in the property as it is a fully let, thriving, local shopping centre with a strong mix of tenants and an attractive rent roll for any investor.”