Canal Bank Cafe sells for €1,250,000

Turley Property Advisors have secured €1,250,000 – €150,000 above the guide price – for an investment in the Canal Bank Cafe on Upper Leeson Street, Dublin 2. The popular restaurant is let at a rent of €127,000 which has been abated to €90,000 a year. The 25-year lease has another 10 years to run.

Property Team O’Mahony Auctioneers are quoting €250,000 for a shop and overhead apartment off Patrick Street at Convent Road in Dun Laoghaire, Co Dublin, which is currently producing annual rents totalling €23,100.

The shop has 35.66sq m (384sq ft) and is let on a 21- year lease to 2019 at a rent of €12,000 a year. The two-bed apartment is producing €925 a month.