Seven shops in Walkinstown Mall for sale with €2.9m tag

Space is producing €264,000 a year and expected to sell for asking price

Walkinstown Mall in Dublin 12

Seven shops with overhead offices at Walkinstown Mall in Dublin 12 are on the market at €2.9 million through agent Lambert Smith Hampton.

All the space is let and producing €264,000 a year in rent and, should it sell for the asking price, the investment would reflect a yield of 8.7 per cent.

Tenants, which are unaffected by the sale, include a convenience store, undertakers, recruitment specialist and a Chinese takeaway.

There are 34 car-parking spaces to the front of the early 1980s building which forms part of the property for sale. Walkinstown Mall is on the west side of Walkinstown Road at its junction with Kilnamanagh Road. Walkinstown roundabout is about 450 metres south and the Long Mile Road junction is 350 metres north.

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The surrounding area is predominantly residential.

"This is real solid investment and there are no arrears and no voids," says Nigel Kingston, a director at Lambert Smith Hampton. "The property was bought back in 1995 – by a group of private investors – for £745,000 (about €945,955) and produced a rent roll of £100,000 in 1995. It's been a really steady performer since."