Two adjoining retail outlets beside the Luas stop along the Millennium Walkway, directly opposite the Jervis Centre in Dublin 1, are expected to attract considerable interest when they go on the market from Wednesday through Coldwell Banker Commercial.
Nick Hughes of that agency is seeking €5.25 million for the two high-profile ground floor units and eight underground car parking spaces.
The main shop, occupied by Spar (a subsidiary of BWG Foods), extends to 497sq m (5,349sq ft) and produces an annual rent of €317,575. The second unit extends to 139sq m (1,496sq ft) and is occupied by the Sunshine Tanning Shop at a rent of €65,000 per annum. The lease expires on November 1st.
Coldwell Banker estimates that the car eight parking spaces should produce an additional €20,000 per annum. This would bring the overall rent roll to €402,575 and give the next owner a gross yield of 7.9 per cent.
Banking premises in Co Leitrim
Cushman & Wakefield Galway is seeking €2.25 million for a banking premises in Carrick-on-Shannon, Co Leitrim, which will show a return of 6.87 per cent.
The ground and first floors of the building are let to Bank of Ireland on a 25-year lease from July 2008 at a rent of €161,627 per annum. The second floor is vacant; when let it will obviously increase the rent roll. The overall building is well-maintained and has a floor area of more than 836sq m (9,000sq ft).
Patricia Staunton of Cushman & Wakefield says the agent is expecting strong interest in the investment, give that there is more than 15 years left on the lease.
Westmoreland Street junction
Stephen McCarthy of Savills is guiding €975,000 for a high-profile retail investment comprising part of the ground floor and basement of numbers 1, 2 and 3 Westmoreland Street, Dublin 2. The building is located at the junction of Westmoreland and College streets, directly opposite the Westin Hotel, and has a ground floor area of 108sq m (1,162sq ft) and a further 96sq m (1,032sq ft) at basement level.
The building is let to Fexco Group, the Kerry-based global foreign exchange firm, on a 15-year lease from November 2012. The rent was recently revised by agreement to €70,000 per annum.
Foxrock house plot for €450,000
How much would you expect to pay for a single house site in the Dublin 18 area of Foxrock? Finín O'Driscoll of agents Knight Frank has calculated that it should be in the region of €450,000 – and expects to prove his point by getting that figure for a ready-to-go plot in Avonmore, a treelined cul-de-sac off the Leopardstown Road. The site, on 0.13 of an acre, has planning permission for a detached two-storey house with four bedrooms and an overall floor area of 223sq m (2,400sq ft).
Dublin 8 investment
QRE is seeking €1.3 million for a mixed-use retail and residential investment in two adjoining buildings at Clanbrassil Street Lower, Dublin 8.
One retail unit is let and the second premises, suitable for use as a restaurant, is currently vacant. The residential facilities include two two-bedroom apartments, one three-bed duplex apartment, and one three-bedroom mews house. One of the apartments is presently vacant.
QRE says the four tenancies in place bring in €66,000. Once the available apartment and restaurant are also leased, the rent roll should increase to more than €100,000.
Production facility in Swords
Commercial property specialists William Harvey is quoting a rent of €250,000 for a modern detached production facility and offices with a floor area of 2,579sq m (27,760sq ft) at Swords Business Park in north Dublin. The production building offers bright accommodation with fluorescent lighting along with gas down blowers.
