Prime retail block at prominent corner site for €1.4 million

 

Four adjoining retail buildings originally assembled with the intention of redeveloping them into a landmark retail and residential development at the corner of Upper Drumcondra Road and Richmond Road in Dublin 3 are back on the market on the instructions of receiver Simon Coyle of Mazars.

Paul Callanan of Savills is now guiding €1.4 million for the four properties – the same price the previous owner paid to buy in just one of the buildings occupied by Feet & Co.

The contracted rent for the parade of shops is €134,400 which will give a new owner an income yield of 9.19 per cent after costs.

The other tenants are Abrakababra, Daly & Manninga mixture of offices and apartments.