Johnstown Shopping Centre for sale
A significant part of Johnstown Shopping Centre in Navan has been put on the market for €3.8 million.
Johnstown Shopping Centre is a modern and established retail centre extending to a total area of 3,563 sq.m (38,347 sq.ft).
The centre is anchored by a very successful 2,160 sq.m (23,251 sq.ft) SuperValu which was recently subject to a complete store re-fit.
The subject sale includes the majority of units in the centre including Boyle Sports, Bennett Optical, Ischia Hair & Beauty, Park Avenue Homeware & Gifts, The Ivy Café, Pets & More, Just a Thought Newsagent, Tara Barbers and Final Touch Dry Cleaners, many of which are well established trading from the centre for well over a decade. The owner occupied elements of the scheme, SuperValu, Costa and the upper floor offices do not form part of the subject sale. In addition, Hickey's Pharmacy is held separately as a standalone investment.
The centre is serviced by a large surface car park with over 400 spaces which is shared with Taylors Bar & Fifty50 Restaurant, a former leisure centre and HSE healthcare facility which form part of the estate and provide additional footfall to the centre.
Johnstown Shopping Centre is located in Navan, a thriving commercial town with a population of over 30,170 people (Census 2016). The town is highly accessible and is less than an hour from Dublin (47 kms) via the M3 motorway.
The centre is located to the south-east of Navan town centre and is a densely populated with approximately 2,769 households (9,227 people) in the vicinity of the centre. Johnstown Shopping Centre is the only grocery centre serving this area.
There is active housing development in the area including the exclusive developments of Carne Wood (5 bed detached homes), Caislean Mainear (4 & 5 bed detached homes), Dunville (2, 3 & 4 bed homes) and Cois Glaisin (mix of 3, 4 & 5 bed homes) which collectively will add an additional 676 units once completed.
In addition, according to the Residential Land Availability Survey 2014 there is a further 57.0 ha (141 acres) of residential zoned lands which have the capacity to provide an For Illustration Purposes Only additional 2,200 homes to the area.