The former O’Connor’s Shopping Centre on Martyr’s Road was withdrawn from auction this Tuesday after it attracted no bids at the latest Allsop Space sale in Dublin.
The centre, which closed in 2011 with the loss of 70 jobs, had a reserve of between €750,000 and €800,000. However, it is now open to offers.
However, an apartment block at 10-18 Ely O’Carroll Place in Nenagh sold for €350,000. The complex had a reserve of between €325,000 and €350,000 and is adjacent to Kenyon Street. The nine two-bedroom apartment comples attracts at annual rent of €44,900
Two other properties failed to sell, with 1 Coolbawn Quay unsold at €65,000 and a house at MacDonagh Street, with a reserve of €25,000 also left unsold.
However, the main interest from a Nenagh perspective was the O’Connor’s premises which sits on a five-acre site. It is believed that German chain Lidl did express at interest in it some time ago. Lidl has a shop to the rear of the property.
The former Nenagh Town Council had drawn up a redevelopment plan for the Martyr’s Road area of the town and the site comes within that plan. It is now a matter for conjecture as to what will become of the plan following the property’s withdrawal from auction.
It was generally accepted that the rejuvenation of the landmark could provide a huge boost in employment and trade in a town.
Nenagh Shopping Centre comprises a supermarket, retail unit, three warehouses and extends to approximately 77,790 square feet. It is easily accessible from the M7, which links Nenagh to Limerick and Dublin.