Kites Chinese restaurant for €1.2m

Kites, the Chinese restaurant that has traded at Ballsbridge in Dublin 4 for more than 30 years, is to be sold as an investment.

BNP Paribas Real Estate and Flynn & Associates are guiding €1.2 million for the restaurant that is located alongside a parade of high- profile eateries at Ballsbridge Terrace that includes Roly’s Bistro, the Lobster Pot and the recently refurbished The Bridge.

Kites is rented at €78,000 per annum under a 20-year lease from 2000, providing the next owner with an initial return of 6.2 per cent.

Kenneth Rouse of BNPPRE said it was rare enough that an investment opportunity involving a Ballsbridge restaurant came on the market and he was confident that it would attract considerable interest because of the attractive lot size and the fact that the D4 location would resonate with many investors.