Galway Bay fm newsroom – A shopping centre in Oranmore has gone on the market with a guide price of over five million euro.
Agents TWM are asking 5.25 million euro for OranTown Centre, a 45 thousand square foot development located in the village.
The OranTown Centre was constructed in the late 1990’s and includes 35 retail and office units with 230 car parking spaces.
The Development is anchored by Nestors Super-Valu and yields an annual rental income of just over half a million euro.
TWM, who is handling the sale, says that the centre has an average unexpired lease term of more than 12 years and a vacancy rate of just over 11 per cent.
Meanwhile, the Irish Times reports that DTZ Sherry FitzGerald is studying a second round of bidding for another zoned site in the village.
It’s quoting in excess of 17 million euro for Pairc an Clochair, a 3.6 hectare site with two food stores rented by Tesco and Aldi, a range of other buildings and 1,000 car parking spaces.