Major redevelopment opportunity in Naas guiding at €4.8m

Agent Cushman & Wakefield is guiding a price of €4.8 million for a major redevelopment opportunity at the heart of Naas in Co Kildare.

Completed to shell-and-core status in 2009, the 44-unit Naas Shopping Centre is being offered to the market along with four existing retail properties fronting on to Naas Main Street.

The standing structure of the shopping centre complex extends to 22,760sq m (245,000 sq ft) which incorporates two levels of commercial space with parking for 747 cars over basement and two upper levels.

Externally, the building has a steel frame silver and white cladding façade with large glazed frontage providing natural light into the centre. The shopping centre had a proposed pedestrian entrance via the Bank of Ireland façade on Naas Main Street, which provided direct access from the main street into the ground -floor commercial space.

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The scheme, as originally designed, provides for an anchor store of just over 7,150 sq m (76,961 sq ft) along with 43 retails units, but both levels of commercial space are currently laid out as open plan. Loading facilities and car parking access are provided at basement level through Corban’s Lane to the east of the property.

Other properties

In addition to Naas Shopping Centre, a number of associated properties on the Main Street in Naas also form part of the sale.

The properties are as follows:
The Former Tully's Bookmakers and Sarah Flood site is a brownfield site extending to 0.05 hectares (0.12 acres). While this site was originally acquired for the purpose of widening and upgrading the road between South Main Street and Corban's Lane, there is a seven-day publican's licence attached to it.

The Five Lamps is a licensed property located on the Main Street directly adjacent to Bank of Ireland. This property is laid out over two floors and is in reasonable condition.

50 Main Street comprises a two-storey former office premises located directly adjacent to The Five Lamps.

The Forge Inn also comprises a licensed property which is located adjacent to Bank of Ireland on the opposite side to The Five Lamps.

Peter Love, who is handling the sale on behalf of Cushman & Wakefield, says: “This property offers a range of opportunities to prospective investors and developers. It would be ideal for a range of uses including offices, leisure, retail, medical and educational, subject to planning permission.”

Naas is a well-established and ever-expanding commuter town. Located just 30 minutes from Dublin via the N7, the town itself has experienced a wave of residential and commercial development over recent years. Notable corporate occupiers in the area include the Kerry Group.