Strong prices for Dublin retail investments

Nigel Kingston of Douglas Newman Good Commercial Property has achieved strong prices for two Dublin retail investments, both involving Paddy Power betting shops.

A private investor has paid well in excess of €700,000 for a two-storey premises at 369 North Circular Road, Phibsborough, Dublin 7, which is producing a rent of €73,500 per annum. There are just under 10 years remaining on the lease which provides for five-year upwards-only rent reviews.

A second investor has paid marginally over €400,000 for another two-storey Paddy Power betting office at 13 Stoneybatter, Dublin 7, which is rented at €43,000 per year. The lease runs until 2017 with five-yearly rent reviews.

Jack Fagan

Jack Fagan

Jack Fagan is the former commercial-property editor of The Irish Times