The building, which houses TK Maxx, is just one property which is up for sale as part of a massive portfolio encompassing most of Paul Quay and valued at approximately €6.75 million. Pic: Jim Campbell
A NUMBER of Paul Quay properties are to be sold off as part of a substantial property portfolio valued at nearly €7 million, and it is expected that it will not be on the market for long as it has already attracted a lot of interest.
The portfolio, which includes the six-storey building which currently houses the new TK Maxx store, is owned by Philip and Paula Stafford’s Streamline Properties and is being sold on the instructions of Grant Thornton who were appointed receivers by Bank of Ireland.
The properties in the portfolio are all located on Paul Quay and are being sold by DTZ Sherry Fitzgerald and Sherry Fitzgerald Haythornthwaite, with a guide price in excess of €6.75 million for the whole lot.
The portfolio is one of the most substantial ones to hit the Wexford market for many years and is both residential and commercial in nature.
One of the big selling points is the recently opened TK Maxx store on the ground floor of an apartment block, which houses 73 fully finished and fitted residential units. The fashion outlet is paying 5 percent of its turnover in rent which is thought to be working out at around €250,000 per annum and has a 15-year lease.
[Full story in this week’s Echo]