Headquarters of iconic Tipperary business hits the market for a whopping €7.5 million
The premises in Nenagh is currently leased to Banaghan & Company Limited
Unit 1DA, Stereame Business Park, Nenagh, Tipperary has hit the market in the last week with investment management company 'Colliers' listing the premises at a guiding price of €7.5 million.
The premises is currently home to the iconic Tipperary business 'Banaghans' or Banaghan & Company Limited to call it by its formal name.
The sale of the property will not immediately effect Banaghans' base at the premises as they work on a 10 year lease term with the commencement date of the current lease date being January 1, 2021 and a total passing rent of €400,000. Although, there is a landlord/tenant break option on December 31st, 2025, subject to six months’ notice.
Richard Bielenberg of Colliers says: “This property offers an excellent asset-management opportunity or the ability to exercise the landlord break option and achieve full vacant possession by the end of 2025.”