Opportunity to acquire Galway’s leading shopping centre located in the heart of the city. Eyre Square Shopping Centre comprises over 70 retail units and kiosks, laid out over two main floors.

The centre enjoys access to the Eyre Square car park which provides 450 car parking spaces and a direct link to Eyre Square, Edward Square and Shop Street.

› Opportunity includes eight retail units, common area / mall units and control of the centre

› Galway’s leading shopping centre

› High yielding opportunity

› Currently producing €1,029,402 per annum

› Excellent footfall – 270,000 per week (2019)

› Significant asset management opportunities

› Current income from Prime Retail Units of €869,200 per annum

› Current income from Common Area Units of €160,202 per annum

The city has a young, vibrant and highly skilled workforce, underpinned by its two 3rd level institutions; - National University of Ireland, Galway (NUIG) and Galway Mayo Institute of Technology (GMIT) – with a combined student population of with approx. 25,000.

Eyre Square Shopping Centre, Galway’s main shopping centre, occupies an unrivalled location in the heart of Galway city, overlooking Eyre Square. The immediate location provides for unparalleled representation of large anchor department stores, high street brands and national and international multiples, while the centre itself is home to Dunnes Stores, Penneys, JD Sports and Specsavers.

Footfall in the centre is running at approx. 270,000 per week (2019). It is the expansive mix of fashion uses together with daily shopping uses that drives footfall.

Galway is the largest urban centre and the premier retail destination on the west coast of Ireland, with a population of 360,000 within a 60 km radius.

Location

N59

N84

N83

N67N6

N6N6

N338

N338

N338

N339

N339

N865

N339

N336N864

N864

N338

N337

N336

N336

LETTERAGH

KNOCKNACARRA

BARNA/SP IDDAL

WESTEND

SALTH ILL

THECLADDAGH

TERRYLAND

CASTLEGAR

BALLYBR IT

BALLYLOUGHANE

MERVUE

BR IARH ILL

LOUGHATALIA

GALWAY BAY

RIVER COR RIB

DUBLIN/LIMERICK/

SHANNON AIRPORT

WEST OF IRELAND/

KNOCK AIRPORT

GALWAYGOLF CLUB

GALWAYRACECOURSE

GALWAYBAY GOLF

RESORT

SOUTHPARK

THE LEWDTUNES

N

S

W E

B Y C A R

Excellent road infrastructure – 2 hr drive by motorway from

Galway to Dublin

B Y A I R2 international airports within

1 hr drive

B Y R A I LExcellent inter-urban

rail connections to Dublin and Limerick

B Y B U SNumerous local

bus routes

E Y R E S Q U A R E S H O P P I N G C E N T R E

The eight no. retail units are located over both levels of the centre along its eastern boundary, close to the main entrance from Eyre Square. Tenant line-up includes JD Sports, The Great Outdoors, Specsavers, Diesel, Starbucks and Vero Moda. These units are currently producing a €869,200 per annum with a WAULT of approx. 6.24 years to break. Two of the units are vacant.

The Common Area Units comprise a number of short and long term rolling licence agreements to include various kiosks, store rooms, telecoms masts and general mall income. They are located over both floors of the centre with a current rent roll of €160,202 per annum. The units have enjoyed a consistently high occupancy rate, with average income over the last 5 years of

region €220,000 per annum. Kiosk operators include Café Express, Mark Twain and Over The Moon, with store rooms predominantly occupied by larger retailers who have a presence in the store. The mast income is from well-known providers; - Meteor Mobile, Esat Digifone and Vodafone.

Prime Retail Units

Common Area Units

The building forms part of a combined shopping centre with both Corbett Court and Edward Square Shopping Centre. Incorporating over 70 shops with a mix of local, national and international retailers. Anchored by Penneys and Dunnes Stores with other high-profile brands including JD Sports, DV8, Specsavers and Vero Moda. The centre has been the principal shopping centre on the west coast of Ireland since it opened in 1991. It recently under went substantial capital expenditure and refurbishment programme to provide a redesigned entrance from Eyre Square together with the development of modern retail accommodation and a restaurant.

The sale comprises eight no. retail units together with the freehold common areas and kiosks let to various retailers and casual traders.

Description

Eyre Square is a is a leading shopping centre, providing the perfect mix of modern retail space and large floor plates in an iconic, landmark building.

E Y R E S Q U A R E S H O P P I N G C E N T R E

Tenant UnitArea

(Sq Ft)Lease Start

Lease End / Break Date

Review Type Rent Per Annum

JD Champion Ireland Limited t/a JD Sports

128 5,630 01/08/2007 01/09/2027 U/O € 320,000

Specsavers Opticians - t/a Specsavers

207 860 16/05/1991 25/05/2026 U/O € 86,000

Lemap Ltd - t/a Diesel 130 & 131 2,687 11/04/2017 10/04/2028 Market € 130,000

Vacant 132 & 133 678 n/a n/a n/a € -

Regatta Great Outdoors t/a Regatta 230 & 330 2,230 11/05/2017 10/05/2025 Market € 90,000

Conorro Ltd - t/a Starbucks231, 331

& Terrace 2,678 20/04/2017 19/10/2032 Market € 91,500

Vacant 232 95 n/a n/a n/a € -

Bestseller Retail Ireland Limited - t/a Vero Moda

217 1,517 16/05/1991 15/05/2027 U/O € 151,700

TOTAL 16,374 € 869,200

JD Sports are a leading retailer of fashionable branded and own brand sports and casual wear combining global brands such as Nike, Adidas, Puma and The North Face with own brand labels such as Pink Soda, and Supply & Demand. They currently have 23 stores in Ireland.

DIESEL was established in 1979 as a wholesale business supplying many independent retailers throughout the country. The brand had been highly successful and they successfully expanded their operation into retail in June 2009, and have since opened 16 retail stores throughout the country.

Vero Moda is a fashion brand originally established in Denmark. Part of the Best Seller group, their brands include Jack & Jones and Only. They opened their first shop in Eyre Square in 1991, followed by an outlet in the Omni Park Shopping Centre in Santry, Dublin and then Grafton Street. There are now shops in Cork, Waterford, Limerick and Kilkenny.

Top 3 Tenants

Tenancy Schedule - Prime Retail Units

The city is also a tourism hotspot and enjoys a high concentration of F & B and hospitality uses. Galway has a county wide catchment, with a focus on comparison shopping.

There are two main shopping centres in the city - Eyre Square Shopping Centre, situated in the heart of the city centre, would be regarded as the principal shopping destination. Galway Shopping Centre, located along Headford Road, is a 10 minute walk from the city centre.

Galway’s principal high street district is built around Shop Street, extending to Market Street, William Street, Williamsgate Street and Edward Square - which serves as the main pedestrian link between Eyre Square Shopping Centre and Shop Street. The area is home to many leading retailers, to include Brown Thomas, Penneys, TK Maxx, M&S, Elverys Sports, Jack & Jones, Vero Moda and many more.

Galway City Centre is the largest shopping destination on the west of Ireland, boasting a wide variety of local, national and international stores.

Retailing in GalwayRetailing in Galway

E Y R E S Q U A R E S H O P P I N G C E N T R E

GROUND FLOOR FIRST FLOOR

E Y R E S Q U A R E S H O P P I N G C E N T R E

Sole Selling Agents

Solicitors Further Information

Michele McGarry michele.mcgarry@colliers.com +353 87 205 0515

Stephen Conway stephen.conway@colliers.com +353 86 365 4387

Edmund Douglas edmund.douglas@colliers.com +353 87 255 9392

Hambleden House 19-26 Lower Pembroke Street Dublin 2

75 St. Stephen’s Green Dublin 2

Mary Mullen mary.mullen@maples.com +353 (1) 619 2053

Datasite eyresquareshoppingcentre.com

BER Rating

Title Freehold/Long Leasehold

Price / Bidding Process On Application

Colliers Ireland and the Vendor/Lessor give note that the particulars and information contained in this brochure do not form any part of any offer or contract and are for guidance only. The particulars, descriptions, dimensions, references to condition, permissions or licences for use or occupation, access and any other details, such as prices, rents or any other outgoings are for guidance only and are subject to change. Maps and plans are not to scale and measurements are approximate. Whilst care has been taken in the preparation of this brochure intending purchasers, Lessees or any third party should not rely on particulars and information contained in this brochure as statements of fact but must satisfy themselves as to the accuracy of details given to them. Neither Colliers nor any of its employees have any authority to make or give any representation or warranty (express or implied) in relation to the property and neither Colliers nor any of its employees nor the vendor or lessor shall be liable for any loss suffered by an intending purchaser/ Lessees or any third party arising from the particulars or information contained in this brochure. Prices quoted are exclusive of VAT (unless otherwise stated) and all negotiations are conducted on the basis that the purchasers/lessees shall be liable for any VAT arising on the transaction. This brochure is issued by Colliers on the understanding that any negotiations relating to the property are conducted through it.