Modern block in Rathmines for €790,000

DTZ is quoting €790,000 for a modern commercial building at 1 Upper Rathmines Road in Dublin 6, which is for sale by private treaty.

The high-profile block extends to 497sq m (5,351sq ft) and is currently producing a rent roll of €58,750 per annum. Apart from the vacant space on the ground floor, which comes with planning for a food take-away business, there are three overhead floors of offices with a weighted average unexpired lease term of 1.55 years.

The selling price equates to capital value of €148 per sq ft while the initial yield will work out at 7.12 per cent.

Ciara Horgan of DTZ said that the high profile location of the building at the intersection of Upper Rathmines Road and Rathgar Road within the village centre was certain to generate interest among investors.