SuperValu’s premises at the Pavilions Shopping Centre in Swords, Co. Dublin has reportedly been brought to the market by Savills on behalf of its owners, Aviva, at a guide price of €27 million.
The store, which extends to 4,522sq m (48,674sq ft), is let on a 25-year lease from September 2005, leaving a weighted average unexpired lease term of 10.28 years reports the Irish Times.
The current rent amount is in the region of €1.8 million per annum, which is believed to be subject to an open market rent review every five years or a review that is based on the consumer price index, whichever is greater, the newspaper reported.
The Pavilions officially re-opened on Monday 15 June along with other shopping centres in Ireland such as Dundrum Town Centre, and the Ilac Centre.
Fastest-growing retailer SuperValu claimed the largest market share for the second month in a row and saw sales rise by 32.7% in May, research showed.
SuperValu’s locally-focused store estate helped it to benefit from people shopping closer to home and it welcomed 64,000 additional shoppers through its doors during the period.
The latest figures from Kantar revealed that Irish take-home grocery sales rose by 25.4% during the 12 weeks to 17 May, the fastest rate of growth recorded in the past fifteen years.
© 2020 Checkout – your source for the latest Irish retail news. Click sign-up to subscribe to Checkout.