Heads are turning for pharmacy investment property in the heart of buzzing Charleville

Huge footfall and an attractive guide price of €1 million for high-yielding pharmacy investment property in heart of Charleville Shopping Centre

Thu, 19 Feb, 2026 - 08:00

Sponsored

With a guide of €1 million, this pharmacy in Charleville is a prime investment opportunity; as rare as it is attractive, it is investors’ eye-candy in a town famous for its diverse retail offer.

With 15,000 vehicles passing through it on a daily basis and with an extraordinary mixture of varied thriving retail outlets, restaurants, bars and services, the North Cork town has few rivals in the country as a market town. One might even call it a “super” market town.

Charleville is one of the busiest market towns in North Cork, with more than 15,000 vehicles passing through it on a daily basis.

With a property on offer right in the heart of Charleville, Shelly Fitzgerald Commercial are selling McCabes Pharmacy – a high-yielding pharmacy investment property in Charleville Shopping Centre.

Fronting out onto the Main Street of the town that also features a SuperValu, as well as an Aldi and a Lidl supermarket, Charleville Town Centre was completed in 2007 by BWP Charleville Ltd. at a cost of €20 million. It covers some 4,200m2, comprising anchor tenants Dunnes Stores and Elvery Sports, as well as 12 other retails units, a café, restaurant, 9 office units and a 2-bed duplex apartment.

It has become the beating heart of commercial life in the town and its 450 free car spaces constitute the main source of off-street parking in Charleville. Unsurprisingly, Charleville Town Centre has an annual footfall of some 750,000 people.

The shopping centre got a strong investment boost in 2018 under new ownership and has gone from strength to strength since, enticing new tenants, and transforming it into a smart and busy modern facility serving the eternally industrious town. This fully-fitted pharmacy unit extends to approximately 294m2 and is occupied by McCabes Pharmacy (formerly Lloyds Pharmacy).

The high-profile unit is located directly opposite Dunnes Stores, fronting onto a partially-covered pedestrian street, which is accessed via Main Street and Bakers Lane. One of the prominent features of its design is the extensive glass-front onto the main open-air retail thoroughfare / plaza.

The asset generates a strong rental income of €180,000 per annum exclusive and is let on a 25-year full repairing and insuring (FRI) lease from October 2008, with 7.5 years to expiry. The lease incorporates upwards-only rent reviews.

“Pharmacy investments such as this one don’t typically come to the market that often,” says Amanda Isherwood, Senior Surveyor at Sherry Fitzgerald Commercial. “It is certainly a rare opportunity.”

Lloyds Pharmacy is Ireland’s leading pharmacy chain, with 82 outlets located across the country, providing a robust covenant. In 2023, German Healthcare Group PHOENIX acquired the chain. Subsequently, in April 2024, the company acquired McCabes Pharmacy, bringing two of Ireland’s best known and must trusted retail pharmacy brands under one roof.

The PHOENIX Group is Europe’s leading healthcare provider and is headquartered in Mannheim, Germany – between Frankfurt and Stuttgart. Its international presence comprises more than 49,000 employees from 29 countries, including 223 pharmaceutical distribution sites. The company has more than 3,300 owned pharmacies and 17,000 partner pharmacies. In the fiscal year 2024/25, the group reported revenue of €49.7 billion; up 5.7% on the previous year, with all regions achieving growth. Profit before tax totalled €465.5 million.

McCabes Pharmacy has a pivotal location in Charleville Shopping Centre, where Dunnes is an anchor tenant. Charleville is a thriving market town with an extraordinary mixture of varied thriving retail outlets, restaurants, bars and services.

PHX Ireland – PHOENIX Group’s subsidiary in Ireland – commenced rebranding all Lloyd pharmacies under the McCabes Pharmacy name.

“It was in the latter half of 2025 that the company started the rebranding process of the pharmacies from Lloyds to McCabes,” says Amanda. “We would expect there to be good interest in this property, particularly at the price we’re guiding of around €1,000,000.

“It would appeal to those that would have very strong pension funds, because there is something of a gap in the market at that level and even just in investment stock in general.

“The fact that it’s actually in the shopping centre is another very attractive aspect of the property. For people are coming in and out, they can park in Dunnes Stores for free and run into the pharmacy without having to watch where they’ve parked … there are other pharmacies on the Main Street in Charleville, but it’s that little bit more attractive being located in the shopping centre itself.”

Located on the N20 40km from Limerick and 60km from Cork, Charleville enjoys both regular rail and bus connections and has a population in the region of 4,000 people. The town is served by a Primary Care Centre and Kerry Foods is the most significant employer in the area. The Irish multinational has a large production facility on 40 acres on the edge of the town.

With other notable occupiers including DV8 and Insomnia, Charleville Town Centre is a social and commercial hub for a large catchment area and currently has an 85% occupancy rate.

The centre is fully managed by Savills and the common areas have recently undergone a full refurbishment.

Lloyds/McCabes Pharmacy at Charleville Town Centre is for sale by Private Treaty and the agents are guiding a sale price of €1million which reflects a Net Initial Yield of 16.37%, assuming standard acquisition costs. The existing tenant is not affected by the sale.

David McCarthy of Sherry FitzGerald Commercial commented: “The property represents a rare opportunity to acquire a compact easily managed investment underpinned by an exceptionally strong covenant, long unexpired lease term and guaranteed income, which makes this an ideal private pension investment.”