Mixed-use building in heart of Ranelagh village for €725,000
Property comprises barber shop producing rent of €24,000 and two floors of offices
The mixed-use building in Ranelagh village extends to 149sq m over three storeys
It extends to 149sq m (1,600sq ft) over three storeys. The 60sq m (650sq ft) ground floor is let to barber Gmale at an annual rent of €24,000 and has renewed its 10-year lease with a break option in year five. The rent breaks back at €397.19 per sq m (€36.90 per sq ft).
The ground floor is fitted out to a high standard to provide salon, treatment rooms and staff facilities. It also benefits from side access to Ashfield Road.
Overhead, two floors of offices are vacant and could be upgraded or converted to residential use. These also have separate access off Ashfield Road.
At the quoted price, 73 Ranelagh offers a net initial yield of about 3 per cent and a capital value of €450 per sq ft.