Commercial Property

Mixed-use investment near Blackrock Dart station for €525,000

Two-storey building produces rent roll of nearly €32,000 from retail and office units

Blackrock mixed-use building at 13/15 Rockhill: its rent roll can be significantly increased once a tenant is found for the apartment on the top floor

Wed Feb 28 2018 - 06:30

Agent TWM is guiding in excess of €525,000 for a mixed-use investment building close to Blackrock Dart station in south Dublin.

The two-storey over-basement building at 13/15 Rockhill, Blackrock, extends to 204sq m (2,192sq ft) and produces a rental income of €31,784 from a retail unit at ground and basement levels and a separate office suite overhead. A two-bedroom apartment on the top floor is presently vacant.

Khan Fashion Boutique is paying a rent of €24,800 on a 15-year lease from September 2017, with a break option in year five.

The first floor office element is occupied by Smyly Trust at a rent of €6,984. The lease has expired and the tenant is currently overholding. The rent roll can be significantly increased once a tenant is found for the apartment.

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Ollie Lyons of TWM said he expects significant interest in the investment because of its location, attractive lot size and the potential for rental and capital appreciation.

TWM