Stradbally Shopping Centre for €3m

Complex includes nine retail units and 10 apartments producing rent roll of €284,579

Stradbally Shopping Centre in Co Laois, with nine retail units and 10 apartments, for sale for €3m

Stradbally Shopping Centre in Co Laois, with nine retail units and 10 apartments, for sale for €3m

 

Lisney is seeking €3 million for Stradbally Shopping Centre in Co Laois, which will show a net return of 9.08 per cent.

The nine-year-old complex includes nine retail units and 10 apartments which are producing a rental income of €284,579.

The building also includes over 80 communal car-parking spaces. Five of the other apartments were previously sold off individually. The remaining buildings extend to 2,972sq m (31,991sq ft).

The shopping centre is anchored by DC Supermarkets, trading as Supervalu. The other traders include Chemco Pharmacy, An Post, Stradbally Fayre and a food takeaway called The Arch.

The combined income from the commercial lettings is €240,911.

One of the 10 apartments, extending to 139sq m (1,500sq ft) is in shell and core condition.

The residential income stands at €43,886, equating to an average of €5,460 per apartment.

Christopher Belton of Lisney said the investment was likely to appeal to private investors seeking a high yielding but stable level of return. Investors would take comfort from the fact that most of the rents had been adjusted in recent years to market levels.