Five shops in Blackrock for €3.5m

The demand for retail investments priced at up to €5 million should ensure an early sale of five adjoining shops with offices at 14-22 Main Street in Blackrock, Co Dublin, which have come on the market through agent Murphy Mulhall.

Robert Murphy of the agency is guiding €3.5 million for the properties where tenants include Boylesports, Supermac's, Eddie Rocket's, Kerins pharmacy, Tony & Guy, Ashtanga yoga, Walter Odlum Solicitors, Clara Hand & Foot Spa as well as Unravel.

The portfolio also includes a vacant apartment at the rear of 20 Idrone Mews.

The buildings extend to 1,514sq m (16,299sq ft) with more than 240sq m (2,594sq ft) of vacant office space at ground and first-floor levels.

It produces a rent roll of €293,655, but this can be increased to €360,000 through asset management and additional lettings. Even with the current rent, new owners can expect a net initial yield of 8.03 per cent.

Mr Murphy, handling the sale for receivers Stephen Tennant and Paul McCann of Grand Thornton, says they are expecting both local and national interest.