A retail and office investment in Rathgar village in Dublin 6 is quoting €1 million through agent Lambert Smith Hampton which would represent a net initial yield of 7.75 per cent.
The investment, at 16-18 Orwell Road, extends to 219sq m (2,362sq ft) and is producing a rent roll of €80,000 per annum from three tenants, all of whom are on long leases.
Kanum Thai pays €38,000 for a ground-floor unit and part of the first floor, Today’s Express rents a second ground-floor unit for €32,000 and Art Studio occupies the remainder of the first floor at €11,000 a year.
For sale by private treaty, the property last changed hands in 1983 when today’s sellers acquired it for £80,000. It is laid out as two retail units on the ground floor with offices overhead.
The location, opposite Supervalu, is a big selling point and agent Nigel Kingston says it is a "neat, easily managed commercial investment" in a price bracket where there is a "real shortage".
