Yield of 8.5% on offer in Lucan

Tegan White of Savills is guiding €700,000 for a two-storey detached retail and office building at Main Street, Lucan, which is to be auctioned on November 6th.

Gandon House is currently producing a rental income of €56,000 from two retail units on the ground floor and two office suites overhead. A third office suite in the 252 sq m (2,723 sq ft) building is vacant. The ground floor retail space is shared by Smith Curley estate agents and Kinirons Pharmacy, while the two offices are rented by Cougar Recruitment. The current yield of 7.66 per cent will rise to 8.5 per cent when the third office suite is let.