Tesco-occupied property for sale at €1m with yield of 7.2%
The multiple is to pay a rent of €75,000 for the store, which is let on a 25-year lease
Another Tesco-occupied retail property comes on the market this week in the Dublin suburb of Fairview following the recent sales of similar investments in Rathmines and Crumlin.
Agent Knight Frank is seeking €1 million for the ground floor Tesco Express which will give the new owner a net return of 7.2 per cent. The UK multiple is to pay an initial rent of €75,000 for the store which has been let on a 25-year lease from November, 2010, with break options at the end of years 10 and 15. The ground floor extends to more than 392sq m of which 265sq m is in retail use with the balance as storage. Tesco is the State’s largest food retailer with a market share of 26.8 per cent.