Private investors looking for an attractive yield underpinned by secure rental income may be interested in the opportunity presented by the sale of Unit 301 at The Square Shopping Centre in Tallaght.
The premises, a prominent retail unit of 950sq ft, is being offered to the market by agent Colliers with a new long-term lease in place to a strong tenant at a guide price of €1.2 million.
Unit 301 is let to Rubybridge Ltd trading as Spar at a passing rent of €90,000 a year, secured on a 10-year lease from September 2025, with five-yearly rent reviews and no break options. The lease is guaranteed by Ginos Italian Ltd.
The subject property occupies a high-footfall position at the western entrance to The Square, opposite Belgard Square West, which also serves as the main access way from the Tallaght Luas red-line stop. The unit is also located directly opposite the cinema which drives additional footfall.
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Should a sale of the unit proceed at the guide price, the buyer would be in line for a net initial yield of 6.82 per after standard purchaser’s costs of 9.96 per cent.
John Landers of Colliers says: “This is an opportunity to acquire a high-performing, retail investment, secured to a strong tenant who are committed to these premises by way of a long-term lease, with no break options”.
