Grafton Group pays €1.425m for premises

Irish Independent - Business Week - - COMMERCIAL PROPERTY - Donal Buck­ley

GRAFTON Group has paid €1.425m for the Gorey, Co. Wex­ford, premises where its Heiton Buck­ley busi­ness has been trad­ing.

Lo­cated within the Knock­mul­lan Re­tail Park, the prop­erty com­prises a com­mer­cial build­ing mea­sur­ing 2,423 sq m (26,085 sq ft), fit­ted out as a DIY store with a trade counter and an­cil­lary stor­age.

There is a large one acre yard to the rear with a sep­a­rate de­tached build­ing mea­sur­ing 285 sq m (3,075 sq ft) cur­rently used for stor­age.

There is also am­ple cus­tomer car park­ing to the front.

Richard Bie­len­berg of Col­liers In­ter­na­tional, who han­dled the sale on be­half of a lo­cal busi­ness­man, had ini­tially been ask­ing €1.1m for the prop­erty.

On the ba­sis of the pass­ing rent of €115,000 per an­num, the price ref lects a net ini­tial yield of 7.72pc.

Knock­mul­lan Re­tail Park is on the south eastern edge of Gorey Town and about 200 me­tres from Gorey Shop­ping Cen­tre.

Ben Pear­son of Agar ad­vised the pur­chasers, Grafton Mer­chant­ing ROI, which is the com­pany op­er­at­ing Heiton Buck­ley.

Grafton Mer­chant­ing is Ire­land’s lead­ing builders and plumbers mer­chant with a na­tion­wide net­work of branches that in­cludes Chad­wicks, Heiton Buck­ley, Sam Hire, Telfords and Davies.

It is owned by Grafton Group plc.

Ear­lier this year it an­nounced plans to cre­ate 170 new jobs as well as the open­ing of three new branches, which would in­crease its branch net­work to 47 stores na­tion­wide.

The Heiton Buck­ley premises in Knock­mul­lan Re­tail Park

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