Investment properties in Carlow town for €2.65m and €1.25m

Mixed-use buildings house retail, offices, apartments and a newspaper

 

Two mixed-use investment properties in Carlow town offering higher-than-usual returns go on sale from today through Dublin agent Murphy Mulhall.

That firm is quoting €2.65 million for a modern mixed-use building with retail, offices and apartments extending to more than 3,541sq m (37,152sq ft) at 38-42 Tullow Street.

The entire ground floor and part of the first floor are let to Dealz on a 10-year lease.

The remaining office space is vacant but, with all 15 two-bedroom apartments occupied, the rental income stands at €247,870, a figure that will show a yield of 8.62 per cent.

Murphy Mulhall is also seeking €1.25 million for Hanover House, a mixed-use retail and office block extending to 1,128sq m (12,142sq ft), occupied by the Department of Social Protection and the Nationalist newspaper.

There are two vacant retail units in the block, which produces a rental income of €137,500.

The initial yield will be no less than 10.14 per cent.

Brian Gaffney of the selling agents is expecting local and national interest in the investments, which showed particularly strong returns.

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