Shops at Tallaght’s The Square for €1.35m

Two external retail outlets rented by Mao and Dominos at The Square town centre in Tallaght, Dublin 24, are to be offered for sale through the Bannon agency for €1,350,000.

The highly rated investment will show an immediate return of 7.22 per cent after standard acquisition costs are deducted.

Alex Patterson of Bannon advises that after a rent review due in 2017 on the Moa outlet the yield on the investment will rise to 9 per cent.

The two units are located next to the level 1 entrance and benefit from very considerable pedestrian traffic between The Square and Tallaght village.

Occupiers

Fast food giant Dominos occupies unit 135 which extends to 81.7sq m (879sq ft) on a 25-year lease from 1999 at a passing rent of €74,880.

There are eight years remaining on the upwards-only lease.

The outlet is believed to be one of the busiest in the country operated by Dominos.

Unit 137/a, extending to 136sq m (1,464sq ft), is occupied by Mao at Home on a new 15-year lease from 2012 at a low passing rent set in 2012 of €25,000. The agent expects this rent to double when it is reviewed next year.

Both units have shares in the centre management company.