Eddie Rockets outlet on Dublin’s South Anne St for €4.685m

Four-storey building rents for more than €244,000 and will show net initial yield of 5%

The building housing Eddie Rockets on South Anne Street, for sale for under €5m. Photograph: Peter Moloney

The building housing Eddie Rockets on South Anne Street, for sale for under €5m. Photograph: Peter Moloney

 

The ever-increasing demand for retail investments priced below €5 million in Dublin’s south inner city should ensure considerable interest in the Eddie Rockets fast-food outlet at 7 South Anne Street, which is to be offered for sale through Cushman & Wakefield.

Clive Roche of that agency is seeking offers in excess of €4.685 million for the investment, which will show a net initial yield of 5 per cent after the purchaser’s costs are taken into account.

The four-storey, over-basement, mid-terrace building extends to 422sq m (4,542sq ft) and is let to Eddie Rockets on a 35-year full repairing and insuring lease from 1988, leaving more than 5.6 years remaining on the lease.

Profit

The net rent of €244,265 per annum is subject to five yearly upwards only rent reviews, with the next one due in June.

The property is laid out to provide a restaurant at ground-floor level, a food preparation and staff area in the basement, and offices overhead, including the company’s headquarters. In the year ended December 2015, Eddie Rockets (Ireland) recorded a pretax profit of €986,768 with net assets of €5.58 million.

The property is being sold by Alan Conway of Always Consulting Ltd on behalf of Ballybunion Capital.

Clive Roche expects a high level of interest due to the “city centre location, well secured income stream and the scarcity of similar prime retail properties for sale”.

The Irish Times Logo
Commenting on The Irish Times has changed. To comment you must now be an Irish Times subscriber.
SUBSCRIBE
GO BACK
Error Image
The account details entered are not currently associated with an Irish Times subscription. Please subscribe to sign in to comment.
Comment Sign In

Forgot password?
The Irish Times Logo
Thank you
You should receive instructions for resetting your password. When you have reset your password, you can Sign In.
The Irish Times Logo
Please choose a screen name. This name will appear beside any comments you post. Your screen name should follow the standards set out in our community standards.
Screen Name Selection

Hello

Please choose a screen name. This name will appear beside any comments you post. Your screen name should follow the standards set out in our community standards.

The Irish Times Logo
Commenting on The Irish Times has changed. To comment you must now be an Irish Times subscriber.
SUBSCRIBE
Forgot Password
Please enter your email address so we can send you a link to reset your password.

Sign In

Your Comments
We reserve the right to remove any content at any time from this Community, including without limitation if it violates the Community Standards. We ask that you report content that you in good faith believe violates the above rules by clicking the Flag link next to the offending comment or by filling out this form. New comments are only accepted for 3 days from the date of publication.