€500,000 for mixed-use office and retail investment in Glasvevin

CBRE is quoting €500,000 for a mixed-use retail and office investment at Fitzmaurice Road in Glasnevin, Dublin 9, which will give a new owner a net return of 8.38 per cent.

The two-storey building has an overall floor area of 216sq m (2,325sq ft) and is located in the centre of Glasnevin, close to the National Botanic Gardens.

The ground floor is let to a Spar franchise on a 35-year lease from 1984 at a rent of €33,600 per annum. The office is let to the same tenant on a 35-year lease from 1986 a €10,200 per annum. Rent reviews in both cases are due in 2015.

CBRE says it expects strong interest in the investment because the tenant was trading well and offered a long-term income stream.