Donnybrook and Rathfarnham shops for €2.4m and €1.1m
Boots in Donnybrook: rented at ¤185,400.
With investors again looking for secure medium-sized retailinvestments in strong Dublin locations, there is likely to be good interest in the forthcoming sale of a Boots chemist in Donnybrook and a EuroGiant store at Nutgrove shopping centre in Rathfarnham, Dublin 14.
Agent Bannon is seeking in excess of €2.4 million for the attractive store developed especially for Boots at Morehampton Road in Donnybrook which will give the new owner a return of over 7.5 per cent.
The 340sq m (3,667sq ft) modern building is producing a rental income of €185,400 under a 25-year lease to Boots from 2008. The upwards-only lease provides for a break in the tenth year subject to nine months notice and a six months penalty clause.
The property, located a few doors from the highly successful Donnybrook Fair, is an ideal lot size for a small pension investor or an investor seeking a secure high yield home for a cash deposit.
Meanwhile agent Murphy Mulhall is guiding €1.1 million for the EuroGiant outlet which is located on the main concourse in the successful Nutgrove shopping complex. EuroGiant is paying a rent of €100,000 for the 209sq m (2,249sq ft) unit which is held on a 25-year lease from 2000. This will show a yield of 8.7 per cent.
Robert Murphy says EuroGiant continues to trade strongly as consumer seek greater value for their disposable income.