Knocklyon centre sells for €3.8m

The Woodstown Village Centre at Knocklyon, Dublin 16, which was sold during the property boom in 2006 for over €8 million, has changed hands again for over €3.8million. David Carroll of Bannon handled the sale for Declan McDonald of PwC, who was appointed receiver by the Ulster Bank.

With the centre producing a rent roll of about €400,000, the new owner will get an initial return of 10 per cent, rising to about 11 per cent once tenants are found for two vacant units.

The centre is a split-level multi-let scheme accommodating 12 units in all and extending to 1,567sq m (16,874sq ft). It is anchored by a Spar store which pays a rent of €105,000.