Fashionable spot for €2.1m

Lisney is quoting €2.1 million for a high-profile corner retail investment with overhead restaurant in the southside village of Monkstown.

At that price, a buyer would secure a net initial yield of 6.77 per cent.

One Monkstown Crescent marks the start of a fashionable parade of shops, restaurants and cafes. It includes two large ground-floor retail units and a vacant, fully fitted 40-seat restaurant.

The property is let to two retail tenants – Spar and Waterford Stanley – and is producing a rent roll €148,700. There is a weighted average unexpired lease term of over 12 years.

There is obvious potential to increase the rent roll when the first-floor restaurant is let. Notable restaurants nearby include FX Buckley, Salt Café and Seapoint restaurant.