Two investment properties for sale in Bray and IFSC

A prime retail investment at 12 Main Street in Bray, Co Wicklow, is on the market for €700,000 through agent Colliers International.

The high-profile corner shop is at the junction of Main Street and Florence Road and is arranged to provide a large open-plan sales area with staff office to the rear and storage on the first floor.

It has 2,442sq ft of space and is let to Tiger on a 10-year lease from December 2015 at a rent of €56,000 per annum. This rent is due to be reviewed in year five of the lease.

The guide price equates to a net initial yield of 7.66 per cent while nearby retailers include Boots, AIB, 3 and Dealz.

Colliers is also marketing a restaurant investment with a long unexpired lease term in the IFSC.

Unit 6 at Mayor Square in Dublin 1 is a ground-floor retail unit within a multistorey mixed-use block close to the Luas.

Pizza parlour

It trades as Broadway pizza parlour and has 1,035sq ft of space accommodating 38 diners. It is held under a 35-year lease from April 5th, 2000, and is subject to upwards-only rent reviews with 19 years unexpired on the term.

The rent roll, subject to review in 2020, amounts to €29,000 per annum – equating to a low passing rent of €28 per sq ft.

Colliers is guiding €350,000 for Unit 6 which would represent a net initial yield of 7.9 per cent