Belfast Telegraph

18 retail units in Dublin on sale for £5m

By Donal Buckley

An investment portfolio of 18 retail units at Belgard Square West in Tallaght, Dublin 24 is for sale with a €5.75m (£4.9m) guide price.

Bryan Garry of sales agents QRE says that based off a net operating income of €672,096 per annum, the quoted price equates to a net initial yield of 10.63%. That also allows for standard purchaser's costs of 9.96%.

"It also reflects an attractive capital value of approximately €117 per sq ft," he added.

All located on the ground floor, the units range in floor area from 775 sq ft to 15,000 sq ft and extend to about 49,000 sq ft in total.

All own-door units fronting onto public footpaths, some of them face onto the public car park at The Square Shopping Centre. The units include Euro Giant, Boyle Sports and Smiles Dental. These three premises generate more than 70% of the rent and the Euro Giant store is sublet from Musgraves, whose lease with the landlord runs until December 2030.

There are currently five vacant units within the scheme, totalling about 9,706 sq ft.

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