Retail units in Dublin south suburbs
Three distressed retail investments for sale in south Dublin suburbs are likely to appeal to anyone waiting to buy a long-term investment or a top-up to a pension fund.
Martin O’Mahony of estate agents Property Team O’Mahony is to sell all three properties on the instructions of receiver Declan McDonald of PwC.
The agent is suggesting a guide price of €425,000 for a three-storey commercial property in the centre of Ranelagh which is currently producing a total of €45,677 from three tenants.
La Reserve Brasserie is paying a rent of €30,000 for the ground floor, which extends to 73sq m (785 sq ft), under a 30-year lease with regular break options.
The Thai Well Centre is paying €10,800 rather than the contracted rent of €12,500 for accommodation on the first floor. The third floor is rented at €4,877 to a hairdresser who has been in occupation for the past 26 years.
A price of €215,000 is being sought for a fast-food outlet with an overhead apartment at 12 Orwell Road, Rathgar. The 45sq m (486 sq ft) shop with a separate stores is currently producing €21,000 rather than the contracted rent of €36,000.
The third investment relates to a mid-terrace commercial building with a 90.76 sq m (977 sq ft) retail unit on the ground floor and overhead storage and office accommodation. The tenant, Blue Door Interiors, is paying a rent of €25, 000 per annum on a 15-year lease with five-yearly rent reviews.