€1.9m for three retail units at Eastpoint Business Park in north Dublin docklands

Creche, sandwich bar and cafe currently produce an annual rent of €158,000

The creche at Eastpoint Business Park

The creche at Eastpoint Business Park

 

Agent Knight Frank is expecting strong interest in a retail investment portfolio at Eastpoint Business Park in the Dublin docklands, which will show an attractive return of 8 per cent.

Damien McCaffrey of the agency is guiding €1.9 million for the three separate retail properties – a creche, a sandwich bar and cafe/restaurant, which currently produce an annual rent of €158,000.

Links Childcare occupy a self-contained, purpose-fitted two-storey building extending to 700sq m (7,534sq ft) under a long-term lease at a rent of €90,000 per annum. The childcare facility comes with six parking spaces and is prominently located at the entrance to the business park.

Founded in 2004, Link Creche & Montessori is a family-owned and operated business that provides early childhood care and education for babies, toddlers, Montessori and after-school children. The company operates 10 creches in the greater Dublin area.

Munchies Sandwich Bar similarly trades under a long-term lease, with 11½ years to expiry. The company is soon to celebrate 20 years in business and has other outlets at Baggot Street, Sir John Rogerson’s Quay, the IFSC, Beacon South Quarter and Central Park in Leopardstown.

An international style cafe and restaurant trading as Urban Mess occupies the third property and offers an extensive menu and seating for 50-plus.

Urban Mess and Munchies trade from adjoining single-storey retail units at the dedicated recreational area within the park and pay a passing rent of €68,000 per annum.

East Point is one of Dublin’s most popular office parks. It is located on a 40-acre landscaped environment that enjoys a tranquil waterside setting overlooking Dublin bay. The park has attracted a strong mix of Irish and overseas companies, including Arvato, Google, Virgin Media Ireland, Cisco, Enterprise Ireland, Oracle and Deutsche Bank.