South Dublin portfolio goes on market for €2m

Two retail investments and a mews building in Terenure village in Dublin 6 as well as a retail investment in Dundrum with an overall valuation of more than €2 million are to be offered for sale from today through Mason Owen & Lyons.

The portfolio is held by the Citron family who have owned property in Terenure since 1910 when Morris Isaacson bought their first investment.

Paul Kelly of the selling agent said the opening of stores in Terenure by Lidl and Aldi had greatly enhanced the retail strength of the village.

The agent is guiding €1 million for the EBS retail premises in the old town centre in Dundrum which is producing a rental income of €72,500. Two 35-year leases from 1989 have 8.2 years to run. The EBS accounts for 61 per cent of the rent.

A guide price of €600,000 is being quoted for the Sherry FitzGerald office on Terenure Road East which is currently rented at €49,000 a year. The lease has another 7.8 years to run.

Separately, Mason Owen & Lyons is quoting €375,000 for the Lisney-occupied retail premises on Rathfarnham Road in Terenure which is rented at €22,500 a year. There are three years remaining on the lease.

On Terenure Road East, the agent is guiding €75,000 for a two-storey mews building which is rented at €5,079 a year. The 35-year lease from 1996 has another 15 years to run.