Investment yields 7.2%

THE most recent investment to be sold in Temple Bar produced a yield of 7.25 per cent. A consortium of Dublin businessmen paid over £1 million for the five unit investment on Temple Bar Square. It includes the Trasteverre restaurant, which.is rented at £45,000 per annum. The sale was handled by Douglas Newman Good (DNG).

DNG is also handling the sale of Meeting House Square, where the Sycamore Building has been let at £55,000 to Larry's Piano Bar. The agents are quoting £675,000 plus for the investment, suggesting a 7.5 percent yield.

The Cobbles at East Essex Street was handled by DNG. A 1,700 square foot unit, occupied by La Med restaurant at £30,000, was sold for £390,000 (7.1 per cent yield). Unit three, occupied by Planet Web was sold for £380,000 at a rent of £30,000 (7.45 per cent yield). A 450 square foot unit occupied by Tag Records, with a rent roll of £10,000, was sold for £100,000 (9.2 per cent yield).

In February, Temple Bar Properties secured £500,000 (7 per cent yield) for a retail building at 50/51 Dame Street let to Gurteen Furniture. The Temple Bar Pharmacy was sold last year for £195,000. The rent is £14,000 per annum (9 per cent yield) Red or Dead is taking 3,000 square feet in the Green Building at a rent of £60,000, but the investment is still for sale.