Retail InvestmentAn interesting retail investment has come on the market in Wexford town centre. DTZ Sherry Fitz-Gerald is seeking over €8.5 million for the New Look premises at North Main Street which was extensively refurbished before being let to the UK fashion tenant earlier this year.

The rent of €375,000 will give a net initial yield of 3.96 per cent.

The premises has 1,050sq m (11,302sq ft) of retail space over three floors and is subject to five yearly upwards only rent reviews. New Look Retailers have a break option in year 15 subject to six months prior notice.

Katie Horridge of DTZ Sherry FitzGerald said Wexford town had been a target for many UK multiples such as New Look and other occupiers included Boots, Argos and the Arcadia Group.

The main street benefitted from a strong footfall du to the attractive retail environment and the character which the buildings offered.