Two retail buildings in Dublin for €2.25m and €950,000

Lisney is selling a 399sq m property in Ballsbridge and a 300sq m one on O’Connell Street

 

With private investors now constantly seeking out well-located retail investments in Dublin city and suburbs, Lisney is expecting strong interest in two properties to be sold in the coming weeks – a modern retail and office building at the side of the AIB Bank Centre on Serpentine Road in Ballsbridge and another retail block at 8 Upper O’Connell Street.

Duncan Lyster is seeking offers in excess of €2.25 million for the Ballsbridge property, one of a number of business premises on the busy Serpentine Road. The four-storey building has retail use on the ground floor and offices overhead. It is let to McNally Kitchens at an abated rent of €150,000 until June, 2026. The original rent was €202,491.

The upper floors are air conditioned and served by a lift. Sub tenants include D4 Medical.

The building dates from 2001 and has an overall floor area of 399sq m (4,303sq ft).

At the €2.25 million selling price it will show a net initial yield of 6.38 per cent.

Meanwhile Christopher Belton is handling the sale of the building on the east side of Upper O’Connell Street which is expected to attract offers around €950,000.

The contracted rent of €82,500 will provide a net return of 8.31 per cent for investors.

The five-storey over basement building with a net internal floor area of 300sq m (3,229sq ft) is on a prominent corner at the junction with Cathedral Lane.

The ground floor and basement are let to a businessman running a Spar on a new 10-year lease from last January at a market rent of €47,500 a year.

The tenant has a break option at the end of 2018 subject to a penalty equal to six months rent. The upper floors produce an additional €35,000 in rental income.

Neighbouring traders on O’Connell Street include Burger King, McDonald’s, Beshoff, Kylemore and the Savoy cinema.