Talbot Street retail investment for €1.1m
Lease on 186sq m ground-floor retail space is subject to upwards-only rent reviews
96-97 Talbot Street, Dublin 1, let to TUI Travel
A retail investment let to TUI Travel at 96-97 Talbot Street in Dublin 1 is on the market at more than €1.1 million through BNP Paribas Real Estate.
The shop is producing a rent roll of €85,000 and, given the guide price, this would reflect a net initial yield of 7.12 per cent.
The lease, which is subject to upwards-only rent reviews, is for a 35-year term from January 1994 and has a weighted average unexpired term of about 9.8 years.
No 96-97 has 186sq m (2,002sq ft) of ground-floor retail space and 6.4m of street frontage.
The shop, which is being sold by a private investor, is not far from the former Clerys department store, where work is due to get under way shortly on large mixed-use scheme with three floors of retail space, three floors of offices, restaurants and a 176-bedroom four-star hotel.
TUI Travel, formally Falcon Holidays, is one of the world’s biggest tourism businesses.