Sandyford Hall neighbourhood centre for €3.7m

The Centra-anchored neighbourhood centre at Sandyford Hall, Dublin 18, is quoting €3.7 million through agent Bannon. This price level would reflect an initial yield of 8.1 per cent.

Fully let, Sandyford Hall is producing a rent roll of €321,000 with a weighted average unexpired lease term of 10 years. Many of the tenants at the centre have been in occupation for more than a decade. Centra, whose store has recently been upgraded, occupies a 325sq m (3,500sq ft) unit with more than 18 years left on its lease.

Other occupiers include Costa Coffee, McCabes Pharmacy and Romayos Diner. There is also a crèche, dry cleaners and dentist.

Located in an affluent and mature south Dublin residential suburb, Sandyford Hall is spread over two levels with six retail units on the ground floor and a further five commercial and offices units on the first floor. According to the agent, 82 per cent of the rent roll comes from the ground floor retail units.

The entire neighbourhood centre extends to 1,423sq m (15,313sq ft) and benefits from more than 50 surface car-parking spaces.