Dublin retail investment quoting €900,000 produces €85,000 in rent

Stillorgan Industrial Estate unit of about 1,115sq m is let to three tenants

Unit 1C at Birch Avenue in Stillorgan Industrial Estate: the three tenants share 13 surface car-parking spaces to the front.

Unit 1C at Birch Avenue in Stillorgan Industrial Estate: the three tenants share 13 surface car-parking spaces to the front.

 

A small retail investment in Stillorgan Industrial Estate which is producing a rent roll of €85,000 is fresh to the market this week with Turley Property Advisors quoting €900,000.

Unit 1C at Birch Avenue extends to about 1,115sq m (12,000sq ft) – including a mezzanine level – and is let to three tenants who share 13 surface car-parking spaces to the front.

Balloon Man is the largest tenant on a new 10-year lease with a break option in year seven. It rents 715sq m (7,700sq ft) and pays €55,000 a year in rent.

Rugart, whose lease runs till December 2019, pays €12,000 a year for about 167sq m (1,800sq ft), while Christoff Kitchens pays €18,000 a year for 186sq m (2,000sq ft) on a rolling monthly agreement basis.

“Unit 1C is just more example of where Stillorgan Industrial Estate is turning more to retail than industrial,” says agent Michael Turley.