Shops and apartments for €3.75m

Twenty apartments and three retail units in a modern development at Mulhuddart are on the market through Ganly Walters at €3.75 million.

All the apartments are let and are producing a rent roll of €204,360 a year. The shops are rented for a combined €123,000 while one tenant (Spar in unit three) is paying an abated rent of €48,000, down from the contracted €137,297, though this arrangement has not been formalised.

The mixed-use investment is located at the Crescent on Church Road in Dublin 15 and was completed in 2004. All the shops and apartments are in the four-storey building, with retail on the ground floor and apartments overhead.

There are 40 customer parking spaces to the front and 37 residential spaces to the rear. The entire development consists of 24 apartments and five retail units – four apartments have been sold by the current owners and two of the retail units, which do not form part of this sale, have also previously been sold.

Spar occupies a 319sq m (3,433sq ft) unit on a 25-year lease from June 2004 while Carry Out off licence pays rent of €24,000 for a 151sq m (1,625sq ft) shop on a 30-year lease from 2004. The last retail unit is occupied by Boyle Sports, which pays €51,000 for 103sq m (1,109sq ft) on a 35-year lease from 2004.

The 20 apartments for sale are a mix of two- and three-bed units that range in size from 69sq m (743sq ft) to 91sq m (980sq ft). Monthly rents are from €850-€900 per unit, while the monthly rent roll is €17,030. All the residential units are registered with the Private Residential Tenancies Board and all are being sold with tenants in situ.

Each apartment has a fitted Bob Bushell kitchen, bathrooms (most with en suites) and balconies. Every floor has lift access and there is a rooftop garden with decking and seating areas.

The Crescent is beside a pivotal roundabout on the northwestern edge of Mulhuddart just north of the M3 motorway. It 14km from Dublin city centre.