Mixed-use retail/office block in Swords for €2.6m
Three retail units and five overhead office suits produce rent roll of €227,300
St Fintans, Swords: The three retail units and five office suits are for sale for €2.6m
A mixed-use development of three retail units and five overhead office suites at the junction of North Street and Balhealy Road in Swords, Co Dublin, goes for sale today at more than €2.6 million.
Agent Lambert Smith Hampton estimates that the 10-year-old development, which produces a current rent roll of €227,300, will show a net initial yield of 8.37 per cent.
Two of the three retail units at street level in St Fintans are let to Gourmet Food Market at €8,000 and Paddy Power at €30,000. A third shop extending to 73sq m (785sq ft) and with planning permission for a food takeaway outlet is vacant.
Four of the five office units are let to the HSE, Flexsource, Gourmet Food Market and Connect Serviced Offices. Rental terms have been agreed on a fifth office suite, according to Nigel Kingston of Lambert Smith Hampton.
The sale also includes 44 car-parking spaces accessed via an electric gate on Balheary Road. An apartment portfolio with 26 residential units on the upper floors are in separate ownership.